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CVM Supplier Diversity Blog

4 Ways to Build Your Supplier Diversity Program

How to overcome challenges you face to start or advance your program

Supplier diversity and procurement professionals often mention one of two issues when it comes to starting or advancing their supplier diversity programs. They lack expertise in certain areas, or they don’t have enough resources and face time constraints. No matter the stage of your program, here are 4 things you need to implement today.

1.  Establish a Supplier Diversity program foundation

To not only launch a supplier diversity program but to create a sustainable one, you need to develop a business case and framework to gain executive support. This is the most important element in your programs’ success early. Program development services are available to consult with ensuring you are not leaving out any crucial pieces that are paramount to establishing a foundation.

Program Development Services

 

2.  Institute best practices to achieve program growth

It’s not a matter of if, but when you will face supplier diversity program challenges. To advance your program and meet corporate initiatives, you need to create a detailed project plan with a defined growth strategy and clear, measurable goals. Program advancement services can assist you in overcoming these challenges and help improve bottom-line results.

Program Advancement Services

 

3.  Develop specialized reports relevant to your organization

The most cumbersome, and time-consuming tasks any supplier diversity program professional entails, involves diversity reporting. The truth is though; reporting is the most critical component to measure success of your program. Utilize special diverse reporting services to develop custom reports that enable your organization to fulfill its reporting requirements in a more cost and time effective manner.

 Special Reporting Services

 

4.  Launch an effective Tier 2 program with ongoing management

Establishing a Tier 2 program is fundamental in advancing and maturing your supplier diversity program. It’s important that you create a plan that includes, onboarding and training suppliers, validating diverse spend reporting and effective communication of reports. Tier 2 Program Management services will enable you to increase your diverse spend so you can continue to focus on more strategic initiatives.  

Tier 2 Program Management Services

 

No longer do you have to be alone on the Supplier Diversity Island. Don’t let your constraints become excuses for not achieving supplier diversity program growth. If you are running into one of the many challenges supplier diversity and procurement professionals face, there are consultative, supplier diversity program management and staff augmentation services that can assist you in your initiatives. To learn more about supplier diversity program assistance, check out CVM's supplier diversity services.

CVM's Services

 

 

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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.