Principle 5 Business, Supply Chain, and Marketing Practices
Key Element B Procurement

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Procurement policies and practices set the standards for supplier selection and can ensure that women have an opportunity to participate. This in turn can help create opportunities for women's employment and entrepreneurship. Studies increasingly demonstrate that women's economic growth goes hand-in-hand with broader economic development. When women have the opportunity to develop and launch businesses, for instance, countries can reap tremendous benefits. It is particularly important to pay attention to fair credit practices and lending terms which can help stimulate the economy by allowing entrepreneurs, many of whom are women, build lines of credit and graduate to larger loans and conventional finance mechanisms. Women-owned businesses offer unique insights into areas such as product development and distribution, advertising and marketing strategies, and emerging customer and market opportunities.

There are 5 indicators for this element.
Indicator 1

Extend the organization's non-discrimination policy to all supply chain, vendor, and procurement contracts.

Implementation level
Action/Notes
Indicator 2

Analyze the organization's procurement practices for total amount and percentage spent on first and second-tier suppliers that are verified women-owned enterprises.

Implementation level
Action/Notes
Indicator 3

Require the consideration of women-owned enterprises in all supply chain and procurement decisions and contracts. Utilize procurement fairs, supplier rotational programs, and lists of certified women-owned suppliers.

Implementation level
Action/Notes
Indicator 4

Identify a "women's enterprise champion" within the organization to target women-owned enterprises and help them access resources, such as credit, contacts, and training. Offer a supplier mentoring program and highlight success stories.

Implementation level
Action/Notes
Indicator 5

Set measurable targets to increase the use of women-owned enterprises and tie supplier diversity goals and achievements to performance evaluations and compensation.

Implementation level
Action/Notes

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