How much of the trillions of dollars spent acquiring goods and services each year go to women-owned businesses?
That stark statistic has led UN Women to develop a new guide that gives corporations and their suppliers an in-depth understanding of the obstacles and challenges that restrict women-owned businesses from broader participation in local and global supply chains. Outlining tools and processes for mitigating or eliminating those obstacles, “The power of procurement: How to source from women-owned businesses” shares ways in which the significant unrealized economic potential of women-owned businesses can be utilized in the supply chain.
UN Women states, “For many women, entrepreneurship offers a path to economic empowerment and it is incumbent upon corporations to help create conditions that permit this. Investing in women-owned businesses and integrating them into corporate supply chains is ‘smart economics’ and good for business. Women-owned businesses contribute significantly to the world economy, generating millions of new employment opportunities”
UN Women, which was founded in 2010, designed this prescriptive manual to “support signatories of the Women’s Empowerment Principles, which UN Women and UN Global Compact jointly promulgate, to take action on Principle 5: Implement enterprise development, supply chain and marketing practices that empower women.”
Download the report today to learn how your organization can do more to support gender diversity in the supply chain through your procurement policies and practices.