What is supplier diversity in SAP EPM-SA - SAP Spend Performance Management?

SAP Term: supplier diversity

• Component: EPM-SA

• Component Name: SAP Spend Performance Management

• Description: An organization’s efforts to include suppliers that are at least 51% owned and operated by an individual or group that is part of a traditionally underrepresented or underserved group.

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• Key Concepts: 
  Supplier diversity is a term used to describe the practice of actively seeking out and engaging with suppliers from a variety of backgrounds, including minority-owned, women-owned, veteran-owned, and LGBT-owned businesses. It is an important part of corporate social responsibility and can help organizations create a more diverse and inclusive supply chain.
  
  How to use it: 
  The SAP Spend Performance Management (EPM-SA) module allows organizations to track their supplier diversity initiatives. It provides visibility into the diversity of suppliers in the supply chain, allowing organizations to identify areas where they can improve their supplier diversity efforts. Additionally, it provides insights into the performance of diverse suppliers, allowing organizations to make informed decisions about which suppliers to engage with.
  
  Tips & Tricks: 
  When using the SAP Spend Performance Management module, it is important to ensure that all supplier data is accurate and up-to-date. This will ensure that the insights provided by the module are reliable and can be used to make informed decisions about supplier diversity initiatives. Additionally, it is important to regularly review supplier diversity data to ensure that progress is being made towards achieving organizational goals.
  
  Related Information: 
  The SAP Spend Performance Management module can be used in conjunction with other SAP modules such as Supplier Relationship Management (SRM) and Supplier Lifecycle Management (SLM) to further enhance supplier diversity initiatives. Additionally, organizations can leverage external data sources such as Dun & Bradstreet’s Diversity Spend Analysis tool to gain further insights into their supplier diversity efforts.