7 benefits to engaging small, local, and diverse suppliers in procurement opportunities

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When people think about supporting local, they often imagine grabbing a coffee at their local artisanal coffee shop, ordering from a craft brewery or shopping at a boutique nearby. Supporting local doesn’t only benefit those at the retail level, it can positively impact a community at the business-to-business (B2B) level too.

Many organizations can look in their backyard to source out construction, roof repairs, architecture, snow removal and even tech companies to support their procurement projects. With the variety of services available, organizations can get their projects completed more efficiently while also supporting the community’s local economy. It all starts with integrating local and diverse purchasing guidelines into your procurement plans.

Where to start

The key to engaging local and diverse suppliers is building purchasing guidelines into your policies and public procurement programs. Guidelines lay out qualifications for suppliers by either evaluating in absolute terms or percentages to determine if the supplier meets the objectives of your organization. These guidelines can include geographic location, workforce diversity, manufacturing within the state or province, providing fair wages or following environmentally sustainable practices, based on your organization’s goals.

Looking for extra guidance? Our skilled bids&tenders team has you covered with an eProcurement platform that makes it easy to build purchasing guidelines into your evaluation processes. Contact us for a demo today.

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7 benefits to engaging small, local, and diverse suppliers in procurement opportunities
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