Certification in Supplier Diversity Practice Exam

Which method is NOT mentioned as a way to identify opportunities for diverse suppliers?

1. Monitoring new and existing businesses

2. Utilizing social media platforms

3. Managing in the contracting process

4. Building time into bidding schedules

The correct answer is: Utilizing social media platforms

Using social media platforms is not highlighted as a method for identifying opportunities for diverse suppliers. Training on supplier diversity emphasizes traditional and strategic approaches that directly relate to identifying and engaging with diverse businesses. Monitoring new and existing businesses allows organizations to stay abreast of potential diverse suppliers entering the marketplace. This method often involves research and outreach to various industry sectors, enabling procurement teams to identify suppliers that meet diversity criteria. Managing in the contracting process implies ensuring that diversity requirements are integrated throughout procurement operations. This can include pre-qualification of diverse suppliers and maintaining an inclusive approach throughout the awarding of contracts. Building time into bidding schedules can facilitate the inclusion of diverse suppliers by ensuring they have sufficient opportunity to prepare their submissions, thus encouraging participation in the procurement process. By focusing on traditional approaches and processes, businesses can create more effective strategies for building a diverse supplier base.