To download the entire Impact Report click here.
CAMSC invests significant efforts in enhancing the business value of supplier diversity to our membership base. In celebration of our 10th anniversary in 2014, we thought it worthwhile to pause and reflect as well on the broader impacts of supplier diversity.
The Impact Report highlights the shared business, economic and social value of supply chain diversity.
CAMSC corporate members are revising procurement processes to enable active outreach and inclusion of diverse suppliers in bid opportunities. This has resulted in business awards to competitive, quality-driven and innovative Aboriginal and minority suppliers. Since 2004, CAMSC corporate members have spent more than $1.2 billion with CAMSC certified suppliers.
Corporations are tracking the positive returns on investment of supplier diversity, including its contributions to cost savings and innovative solutions, increased corporate and government revenue, as well as brand loyalty in the fast growing Aboriginal and minority consumer base. Based on more than 180 contracts awarded in 2013, corporate members identified that CAMSC certified suppliers were awarded business based on cost competitiveness, cost savings, as well as enhanced product/service quality.
A small number of rapidly growing firms create the majority of jobs in many economies. CAMSC certified suppliers are growing faster than the average Canadian SME. This means they are an increasingly significant economic contributor, given that almost 12% of SMEs across Canada are Aboriginal or visible minority owned.
Here are a few highlights of CAMSC suppliers who have successfully grown their businesses since becoming CAMSC certified.
The entire Impact Report can be downloaded by clicking here.