Our recent CODE Workshop on Inclusive Procurement, in partnership with Canada’s 2SLGBTQI+ Chamber of Commerce (CGLCC), was an insightful and engaging session that explored how businesses can integrate diversity and inclusion into their procurement strategies. For those who couldn’t attend, here’s a comprehensive recap of the significant takeaways to help you understand the value of inclusive procurement and provide practical tips to start or enhance your journey toward supplier diversity. 

What is Inclusive Procurement?

According to CGLCC, “Inclusive procurement helps your organization tap into the widest available talent pool of suppliers by proactively providing diverse suppliers with an opportunity to bid on business opportunities for your organization.”

Why Inclusive Procurement Matters 

Inclusive procurement is more than just a trend; it’s a vital business strategy that fosters economic growth and community support. By intentionally sourcing goods and services from diverse suppliers, including those owned by 2SLGBTQI+ individuals, businesses can unlock new markets, drive innovation, and build a more resilient supply chain. In the workshop, participants learned how embracing inclusive procurement practices can: 

• Drive Economic Growth: Supporting diverse businesses not only promotes equity but also contributes to a more vibrant, competitive economy. 

• Boost Innovation: Diverse suppliers bring unique perspectives and ideas, helping companies create products and services that cater to a broader audience. 

• Enhance Brand Reputation: Companies committed to diversity and inclusion are more attractive to consumers, employees, and partners. 

Tips for Implementing Inclusive Procurement 

The session provided practical tips and strategies for integrating inclusive procurement into your business operations: 

1. Evaluate Your Current Procurement Practices: Start by assessing your current supplier base. Are there diverse businesses you could be sourcing from? Identify gaps and opportunities for improvement.
2. Set Clear Diversity Objectives: Outline what you aim to achieve with your procurement strategy. Whether it’s sourcing a specific percentage of goods from diverse suppliers or expanding your network to include more 2SLGBTQI+ owned businesses, setting measurable goals is key. 
3. Ensure Transparency in the Procurement Process: Create an open and accessible procurement process. Clear criteria, guidelines, and feedback mechanisms can encourage diverse suppliers to participate. 
4. Build Partnerships with Diverse Suppliers: Seek out and establish partnerships with diverse supplier networks. Organizations like CGLCC can help connect you with 2SLGBTQI+ owned businesses and offer resources to guide your journey. 
5. Track and Measure Impact: Measure the success of your inclusive procurement strategy by tracking key metrics such as the number of diverse suppliers, the percentage of spending on these suppliers, and the overall impact on business performance. 

How to Get Started With Inclusive Procurement

If you’re ready to take the next step towards more inclusive procurement but need guidance on where to start, we encourage you to reach out to our partner, the CGLCC, for tailored support. They offer resources and connections to help you build a procurement strategy that aligns with your business values and objectives. 

Contact Information:
Kailey Gilchrist (she/her)
Business Development Manager
Canada’s 2SLGBTQI+ Chamber of Commerce
Direct Line: 416-761-5151 x102 

This workshop was just the beginning. By adopting inclusive procurement practices, you can support diverse businesses, strengthen your brand, and contribute to a more equitable economy. Reach out to Kailey to learn more about how you can get started today! 

Learn more about our upcoming CODE Workshops and register here.