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Timely Topics in 2022: Diversity and Inflation

By staying on top of trending and timely topics such as DEI and inflation, procurement offices can help future-proof their strategies."

In 2022, news about diversity, equity, and inclusion (DEI) and rising inflation filled our news headlines and social feeds.

And procurement offices were paying a lot of attention. From diversifying supplier pools to managing budgets amongst rising costs, both topics garnered much discussion throughout the year.

Seeking diverse suppliers

In an environment where DEI is front-page news, many companies are not just taking notice, but also taking bolder steps to be more socially conscious. Higher education institutions have always been at the forefront of the fight for equal rights. And that’s why today, more than ever before, it is important for institutions to take steps to ensure that the goods and services they use are sourced according to the high standards of ethics they apply to selecting students and delivering education. That’s why selecting diverse suppliers is becoming an even greater priority for procurement offices across the nation and we are proud to say that ESM is a trailblazer in this field. Read more.

Make your procurement inflation-proof

Colleges and universities are not immune to inflation. And with everything from gas to groceries costing more than they have in the past, those in management and on the frontline within institutions are looking for new strategies to balance rising costs with flat or declining budgets. ESM offers three strategies to help make your procurement inflation-proof:

  1. Drive pricing stability through structured sourcing arrangements
  2. Make it easy for your buyers to shop for the resources they need
  3. Use a modern procurement solution

Unfortunately, ESM can’t change inflation nor can we make it go away. But we can help institutions mitigate and navigate inflation-based issues. Applying these three strategies can really help, too.

By staying on top of trending and timely topics such as DEI and inflation, procurement offices can help future-proof their strategies and ensure their technology can support ever-changing economic environments.

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