What Is Diversity Supply?

Diversity supply is goods and services provided by minority-owned businesses.

In today's competitive commercial and federal contracting environment, "diversity" is big business. The National Minority Supplier Development Council reports that Fortune 500 companies spend more than $80 billion a year in goods and services from diverse suppliers, and this volume is expected to grow exponentially over the next 50 years.

Because of rapid demographic changes, companies are increasingly committed to working with minority-owned organizations for several reasons:

It opens doors. Thirteen of America's largest corporations are members of the Billion Dollar Roundtable—an elite group of companies that spend more than $1 billion annually in the purchase of goods and services from minority-owned suppliers.

It provides cultural versatility. Working with minority-owned businesses aligns companies with the increasingly diverse make-up of the markets in which they operate, giving them an edge as a well-rounded competitor. As the marketplace becomes more ethnically diverse, partnering with a diversity supplier helps to provide greater insight into the economic terrain by understanding the needs of diverse customers and markets, and creating new interest for technologies and products.

It adds company value. Diversity suppliers bring creativity and innovation to the table. A company that aligns itself with the changing marketplace is a socially responsible company, and a socially responsible company has more value.

Managed Business Solutions (MBS) recognizes the incredible opportunities and benefits of diversity supply and has made diversity investments a core part of its strategic business plan.