While the report does not address how that might be challenged by the crises surrounding the COVID-19 pandemic, as well as it's economic aftermath, a new report from the ANA indicates that 75% of its members have at least some form of formalized supplier diversity program and that 40% explicitly impacts the supply of marketing and/or advertising products or services.
The study, “The Power of Supplier Diversity,” also reveals that among those with a supplier diversity strategy, the top segments targeted are women-owned (98%), ethnic/minority-owned (95%), veteran-owned (90%), LGBTQ-owned (88%), and disability-owned (80%).
A recent study of C-level executives across corporate American by consultant West Monroe found that "supply chain risk" was the fourth top concern related to the pandemic.
Moreover, during a recent Media Village webcast featuring ANA chief Bob Liodice and 4As chief Marla Kaplowitz, the trade association heads spoke about the need for advertisers and agencies to be flexible, creative and resourceful in terms of sourcing advertising production and creative output during the pandemic, as many traditional sources of production, as well as location shoots, have been severely challenged by work-at-home and social distancing directives.
Interestingly, the ANA's new report indicates that while 75% of marketing organizations have a supplier diversity initiative, only 40% said it explicitly involved marketing/advertising services.