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Supplier Intelligence

6 Great Resources for Asian-American-Owned Small Business Enterprises

Asian-American business owners can take advantage of a number of resources to help propel their small business enterprises, including in both the public and private sectors.

An obvious starting point is to consider the resources available through the U.S. government, notably the U.S. Small Business Administration and the U.S. Minority Business Development Agency. These two agencies were created to serve small and minority-owned firms, and Asian-American businesses fall within these categories. The help that is available from these agencies runs the gamut from financing and access to capital, business planning, networking, and mentoring.

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How to Implement Your Supplier Development Program

Supplier development is a natural extension of your supplier diversity program. Through targeted efforts, you can help your suppliers stabilize and scale, ultimately strengthening your supply base. Sounds good, your C-suite says, but how much will it cost us? Good news: Supplier development doesn’t have to be expensive or time-consuming.

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When Is It Time for a New Supplier Management Solution?

Do your stakeholders question the value of your supplier diversity program due to lackluster results? Is your supplier diversity team struggling to meet established goals? Are you losing your passion for supplier diversity under the seemingly endless tasks of manually verifying data and preparing reports? Then it might be time for a new supplier management solution.

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What Is Supplier Diversity and Why Is It Important?

Supplier diversity is a business strategy that ensures a diverse supplier base in the procurement of goods and services for any business or organization. It emphasizes the creation of a diverse supply chain that works to secure the inclusion of diverse groups in the procurement plans for government, not-for-profits, and private industry. Research shows that companies that embrace diversity are more profitable than companies that don’t:

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The Biggest Challenges When Managing Supplier Diversity

Managing supplier diversity initiatives is hardly like putting out a shingle on a storefront or placing an advertisement in a publication and having the masses come to you. In this instance, the masses you are trying to attract are diverse suppliers that can offer value to your supply chain.

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For over a decade CVM's mission has remained unchanged, to lead the transformation of Supplier Diversity program management and to support Supplier Diversity programs. CVM helps corporate supplier diversity programs in every stage of their evolution; from those that are just getting started, to the most advanced, world-class programs. Equipped with unparalleled data intelligence, superior technology and expertise guidance, businesses can effectively establish and advance their Supplier Diversity initiatives.