As one of the Tampa Bay region鈥檚 largest economic engines, the University of South Florida System鈥檚 commitment to supporting the diverse small business community is as strong as ever.
Established in 2017, the USF Office of Supplier Diversity (OSD) has made tremendous strides in strengthening the relationship between the university and minority, woman and veteran-owned organizations interested in opportunities across the System. OSD has developed rich partnerships with countless local organizations, continued to educate vendors about USF鈥檚 procurement process and is hosting the second annual Supplier Diversity Day to connect various businesses with units across campus.
Along with its external efforts, OSD has also implemented training programs for USF employees to educate them on best practices in the procurement of goods, services and other contracts.
The efforts have paid off. In the most recent fiscal year, the university spent $27.5 million with diverse-owned suppliers, or roughly 8 percent of USF鈥檚 total addressable purchases, a nearly $10 million increase from just one year earlier.
Assistant Vice President Terrie Daniel, USF Office of Supplier Diversity.
Assistant Vice President Terrie Daniel, hired last year to build the supplier diversity program, says the improvement is an undeniable reflection of USF鈥檚 targeted investments in the area.
鈥淚n a short period of time, we have implemented a foundation for success, and we鈥檙e already seeing new opportunities created for our suppliers every day,鈥� she said. 鈥淏ecause of the leadership of our Board of Trustees, President Judy Genshaft and other key contributors across the 哔咔漫画 System who are champions for this initiative, we are making significant progress that will be transformational for our campus climate.鈥�
Daniel says that while the university鈥檚 improvements will continue to propel it to reach even higher, the real success is in the tangible impact OSD has had on local businesses across the region. One such success story is Bay Coffee & Tea Company 鈥� a campus coffee supplier with a newly opened brick and mortar store in USF鈥檚 Argos Exchange.
鈥淔or us, it鈥檚 humbling to have this extraordinary relationship with such an incredible university,鈥� said Carole Colvin, co-owner of Bay Coffee & Tea Company. 鈥淭he university is an iconic representation of the best the Tampa Bay area has to offer. So, having the chance to work with USF is incredible.鈥�
Started more than a decade ago as a popular stand at local farmers鈥� markets, Bay Coffee & Tea Company has only recently began working with USF. Colvin says their relationship with USF Dining Services/Aramark, as well as the critical support from Daniel and her team at OSD, has helped benefit the company鈥檚 bottom line while also providing them the chance to spread their message of sustainability to a new audience.
As a minority owned business, OSD recognized the potential for even greater collaboration with Bay Coffee & Tea. After participating in the university鈥檚 first Supplier Diversity Day in 2017, Daniel has continued to support and promote Bay Coffee for even greater opportunities 鈥� efforts that helped spur the company鈥檚 physical footprint on campus.
鈥淲e are creating an eco-system of economic development and growth for the diverse business community and it is exciting to be a part of something much bigger than myself,鈥� Daniel said. 鈥淗owever, we cannot rest on our laurels but will continue to promote this initiative and raise awareness internally and externally.鈥�
And while successes like Bay Coffee & Tea Company continue to pile up for the Office of Supplier Diversity, Daniel says they are only just getting started. With plans to increase the total addressable purchases with minority-owned businesses to between 13-20 percent, Daniel says she is thrilled with their momentum and excited to see what her office, with help from the entire USF and Tampa Bay community, can achieve next.
To learn more about the USF Office of Supplier Diversity, visit their website.