If your business is required to attain Supplier Diversity goals, working with Teltek can help you fulfill that obligation. We’ll start by providing an overview of what Supplier Diversity means and how to determine its significance to your business.
What is Supplier Diversity?
Supplier Diversity is a business strategy designed to ensure that a company’s supplier base includes organizations of all sizes that are owned and operated by qualified members of diverse ethnicity, veteran, women or disabled groups.
How can a supplier prove its diversity?
MBE/DBE/SBE status shows that a supplier has been verified by a third-party certification body to be owned, managed and controlled by a qualifying diverse group.
What kinds of companies are required to meet Supplier Diversity goals?
Companies required to meet Supplier Diversity goals often include government agencies, construction companies focusing on public work and larger corporations that have committed to working with minorities and disadvantaged companies.
What do Supplier Diversity goals look like?
For example, below is a list of the goals established by federal executive agencies:
- 23% of prime contracts for small businesses
- 5% of prime and subcontracts for women-owned small businesses
- 5% of prime and subcontracts for small disadvantaged businesses
- 3% of prime and subcontracts for service-disabled veteran-owned small businesses
- 3% of prime and subcontracts for HUBZone certified small businesses
What happens if a company fails to comply with Supplier Diversity goals?
The Office of Federal Contract Compliance Programs (OFCCP) monitors and enforces supplier diversity compliance for federal contractors and subcontractors by conducting compliance reviews. Failing to comply with Supplier Diversity goals can result in the loss of a company’s federal contracts.
How can Teltek help companies meet Supplier Diversity and technology improvement goals?
In addition to our MBE/DBE/SBE status, Teltek offers a broad range of services that includes voice and data cabling, IT support, phone system sales and service, and security products. For a comprehensive list of our capabilities, please visit our Government Contracting page.