Certification in Supplier Diversity Practice Exam

What should be included in developing a capacity building model?

1. Reduced supplier diversity strategy

2. Existing supplier diversity development strategy

3. Weekly performance reviews

4. Short-term procurement goals

The correct answer is: Existing supplier diversity development strategy

In developing a capacity building model, it is essential to include an existing supplier diversity development strategy. This approach provides a foundation upon which to enhance the capabilities of diverse suppliers. By leveraging existing strategies, organizations can identify strengths, weaknesses, and opportunities for improvement, ensuring that the model is aligned with best practices and established frameworks. An existing supplier diversity development strategy informs the capacity building efforts by highlighting areas where support is needed, such as training, resources, or mentorship programs. It allows organizations to tailor their capacity building efforts to the specific needs of diverse suppliers, fostering sustainable growth and increasing their ability to compete in the marketplace. In contrast, other options may not contribute effectively to a comprehensive capacity building model. For instance, a reduced supplier diversity strategy could limit opportunities and resources rather than support capacity building, while weekly performance reviews and short-term procurement goals typically focus on operational metrics and immediate outcomes, rather than the overarching goal of developing long-term supplier capabilities.