At Aramark, Supplier Diversity is defined as a business strategy that ensures a diverse supplier base in the procurement of goods and services for any businesses. It is a means to foster economic growth within the women and ethnic business communities and to bring more diverse entrepreneurs into the mainstream of the U.S. free enterprise system. Aramark tracks Tier I, Tier II and Economic Impact with over $2 Billion in job creation, tax revenue and income growth in the US attributed to Aramark’s supplier diversity program.
Diverse-owned businesses represent the fastest-growing segment in the U.S. supply chain which reflects the changing demographics in the marketplace.
There are approximately 16 categories used to identify diverse businesses. Common examples include Small Business Enterprise, Minority-owned Business Enterprise, and of course, Women Business Enterprise.
At Aramark, supplier diversity is neither a social program nor a promise that participating companies will secure business from partnering corporations. It is not a guarantee of business to a diverse/small supplier but is a market-access opportunity.