Certification in Supplier Diversity Practice Exam

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What is the first typical step in a supplier recognition program?

Establish evaluation criteria
Formulate and publicize a supplier awards program
Promote a supplier awards program to all suppliers
Establish award types and values

The correct answer is: Formulate and publicize a supplier awards program

The first typical step in a supplier recognition program involves initiating the process by formulating and publicizing a supplier awards program. It is essential to create a comprehensive framework that lays out the purpose and benefits of the recognition program before any further actions are taken. This includes defining the vision of the awards, outlining how suppliers can participate, and generating enthusiasm among them. By publicizing the program at the outset, organizations can ensure that all suppliers are aware of the awards, understand the criteria that will be used for evaluation, and feel encouraged to strive for recognition. This communication sets the tone for the entire recognition initiative, fostering engagement and participation from the supplier community which is crucial for the program's success. Establishing evaluation criteria, awards types, and values comes after the initial rollout and promotion, focusing on details that will inform suppliers how they can excel. Therefore, prioritizing the development and communication of the awards program is a foundational step that establishes the framework for the recognition effort.