Building a diverse supply chain is an art form we must invest in

Building a truly inclusive workforce on projects can be a form of art. And just like any exemplary art, the ones we invest the most in – both physically and emotionally – are often the ones that yield the most long-term value.

When investing in supply chain, commercial managers have a responsibility to curate teams that will leave a lasting impact which can extend far beyond the project’s completion.

With hundreds upon thousands of different types of businesses that thread into our industry’s rich tapestry, we should choose the ones that are able to illustrate the most vibrant picture.

Designing an environment fit for a diverse workforce allows under-represented businesses and talents to play a key role in building state-of-the-art spaces that authentically reflect the values of the brands that occupy them.

Benefits of procuring differently? Let me paint you a picture...

As a business, we are experiencing positive changes - where Diversity, equity and inclusion (DEI) focused approaches are becoming ever more popular in strategic planning. But why is this beneficial to our procurement processes? And what impact does this have on our commercial strategies?

When we invite different perspectives and underrepresented talents to our sites, we are welcoming economic growth. And in an industry that’s facing a major skills shortage crisis, it’s more imperative than ever to create equitable and accessible opportunities to build the right teams to deliver our projects.

But the onus can’t solely be on our social value team’s brilliant minds. Investment in building truly inclusive projects should be a common action for all levels of the board.

DEI project requirements are growing tenfold. And when DEI isn’t treated as an afterthought, commercial teams can build a cost model for ESG that prioritises long term gains over short term savings. Quantifying the amount of social value generated as a greater return on investment and indicator of success, rather than some of the more traditional valuation metrics.

Drawing synergies between brand, place and supply chain

ISG is proud to partner with brands that commit to inclusivity and innovation, while working alongside workforces comprised of underrepresented businesses and talents; setting a new standard for exemplary workplace delivery. Including minority owned businesses, SME’s and suppliers from lower socioeconomic status.

The 'people driven’ ethos is embedded within every step of the planning and execution of ISG. So that we create and pioneer a distinctive supply chain strategy that underpins shifting perspectives and radical storytelling.

Weaving a brand’s culture and social value strategy into every operational fabric

In theory, there are unlimited opportunities to build more inclusive organisational frameworks. But every project is different, and there is a fine art in balancing purpose and profit. We must seek to identify every potential for better diversity at the start of the project, while maximizing those opportunities without financially overwhelming clients, consultants, and the logistics network.

Quantifiable initiatives commercial teams can influence from the outset:

• Partnering with supplier diversity organisations to allow for accurate forecasting of material and labour costs
• Reviewing packages and allocating bespoke trade opportunities to increase supplier diversity spend which meets the financial stability, capacity, forward order book, and turnover of underrepresented suppliers
• Identifying opportunities to present a lower risk profile for SME’s, to allow smaller contractors to tender and have more opportunity in securing works tailored to company offerings; including relaxed payment terms and advanced payment bonds
• Host workshops with external professionals and trade contractors to knowledge share and maximise opportunities to achieve a client’s DEI aspirations and go above and beyond requirements with the Social Value Portal

The finished design

Diversifying our supply chains is not only the right thing to do, but also a good business strategy.

We’ve long understood the importance of building diverse workforces and inclusive organisational frameworks. But when it comes to investing in our supply chain, there’s so much untapped talent with significant potential in driving value.

If we visualise each project as a blank canvas for opportunity in social growth, we enhance our ability to deliver on the ESG agenda and ultimately, equitable financial gains for our clients.