Powering Supply Chains: IE&D’s Impact Unveiled The Association for Supply Chain Management (ASCM), in collaboration with SHRM and the SHRM Foundation, has released a report titled “The Power of IE&D in the Supply Chain: Unlocking Resilience and Growth.” This report delves into the state of inclusion, equity, and diversity (IE&D) within the supply chain industry. Findings reveal that effective IE&D implementation leads to significant competitive advantages, with 73% of supply chain managers reporting outperformance of competitors. Moreover, companies with effective IE&D experience lower turnover rates and higher employee satisfaction.
Johnny C. Taylor, Jr., SHRM-SCP, President and CEO of SHRM, highlights that IE&D are not just moral imperatives but strategic advantages in supply chain management. Inclusive practices foster commitment and belongingness among stakeholders, enhancing morale and productivity. IE&D make supply chains more adaptable, responsive, and competitive in the global market, ultimately improving customer service.
Despite the prevalence of IE&D initiatives, effectiveness remains a challenge. Only a minority of supply chain managers and HR professionals rate their companies as very effective at achieving IE&D progress. Ineffective IE&D significantly influences employee retention, especially among women and workers of color, contributing to burnout and desire to quit.
Key findings from the report emphasize the importance of accountability, comprehensive initiatives, and involvement at all organizational levels in achieving IE&D progress. Strengthening IE&D is crucial for talent development, resilience, and profitability in supply chains.
The report suggests strategies for organizations to enhance IE&D efforts, including establishing buy-in at leadership levels, setting IE&D goals, integrating supply chain into IE&D conversations, and utilizing training as a resource.
The report’s methodology involved a U.S.-based sample of 1,442 participants, including supply chain managers, workers, and HR professionals, surveyed between October and December 2023. Data collection was facilitated through ASCM’s and SHRM’s networks.
For access to the full report, visit SHRM and ASCM websites.
