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Supplier Intelligence

Supplier Diversity vs. Small-Business Programs

The terms “supplier diversity” and “small business” are often used interchangeably, but are they really the same thing? If your company has a small-business program, is that the same as a supplier diversity program? While the two may seem the same on the surface, they are different categories and should be treated as such by your procurement professionals.

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[Infographic Part 1] 2017 State of Supplier Diversity Report—Supplier Diversity Programs

Back in February, CVM created the first-ever State of Supplier Diversity survey to take the pulse of the industry. Both supplier diversity programs and diverse suppliers provided input as we sought to get a full picture of what both sides of the coin experience.

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Which Features Are Important in Vendor Management Software

Supplier diversity programs are typically understaffed and under-resourced, yet the work done by supplier diversity professionals is vital to the health and growth of the supply chain. Adding another element–such as Tier 2 reporting, vetting potential suppliers, or verifying data integrity–might be necessary to grow your supplier diversity program, but who has the time?

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7 Key Insights into the State of Supplier Diversity in 2017

We at CVM Solutions wanted to learn more about the state of supplier diversity in 2017. We wanted to know what was happening in the trenches, from the supplier diversity professionals throwing all their energy into ensuring their programs are identifying, contracting, and developing diverse suppliers. So, we decided to ask them.

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The 7 Main Characteristics of a Supplier Diversity Program

The term “supplier diversity” is used often these days, but for companies that are striving or are mandated to increase diverse spend in their supply chains, establishing, maintaining, and growing a supplier diversity program isn’t so clear-cut. In short, supplier diversity is (defined more in this post here) a strategy to achieve a more diverse supplier base, emphasizing the inclusion of vendors such as minority-owned business enterprises, women-owned business enterprises, small businesses, LGBT-owned businesses, and veteran- and disabled-owned businesses.

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For over a decade CVM's mission has remained unchanged: lead the transformation of Supplier Diversity program management and 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.