The Economic Impact Award recognizes companies that treat an inclusive supply chain as a competitive advantage — those that intentionally widen the field of qualified suppliers competing for their business and direct measurable economic impact into the regional economy (PA, DE, and Southern NJ).
Access & Opportunity
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Establishing or expanding programs that improve qualified small and emerging businesses' access to contracting opportunities — supplier development, mentorship, capacity-building, technical assistance, and other measures that reduce barriers to bid.
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Lowering structural barriers to competition, such as simplifying bid and RFP requirements, unbundling large contracts into scopes a smaller firm can realistically win, and making solicitation processes and portals easy to find and navigate.
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Investing in supplier capability — financing access, performance feedback and scorecards, education — so suppliers can scale and take on larger scopes over time.
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Offering modified terms that help smaller suppliers manage cash flow and compete on equal footing.
Measurable Growth (Year over Year)
- A year-over-year increase in the percentage of total sourcing directed to qualified suppliers within the regional economy
Details
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The Award Celebration will be held in concert with WBEC-East’s annual Desserts & More Fundraiser on Thursday, October 22nd, 5:30 PM in Center City, Philadelphia. While not a requirement to be present during the Award Ceremony it will be appreciated for both the Nominee and Nominating Individual to plan to participate.
Submissions are due Friday, August 7th!