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CVM Supplier Diversity Blog

CVM Solutions

Recent Posts

Understanding Supplier Diversity Compliance

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Can Supplier Diversity Reduce the Impact of Coronavirus on the Supply Chain?

The novel coronavirus (COVID-19) is impacting our world in unprecedented ways. Schools are closed. People have been asked to stay home whenever possible. Masks and gloves are common sights. Shelves in stores are empty of many basic supplies.

As the global pandemic continues to disrupt business—and life—as usual, our global supply chain is straining under the pressure to fulfill essential needs. Restrictions on importing from certain locations along with increased and new demand for certain commodities are exposing weaknesses in the supply chain. 

As procurement teams search for alternative sources to fill temporary gaps, it’s time to consider new suppliers and partners in the marketplace.

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Getting The Most out of Economic Impact Modeling for Your Supplier Diversity Program

In CVM’s 2019 supplier diversity survey, 32 percent of respondents said they currently measure the economic impact of their supplier diversity program. This is an increase over the 19 percent who reported tracking that metric in 2017, indicating that more and more companies are recognizing the value of looking beyond spend, competitive advantage, and cost savings. 

Of course, all of those metrics are important, but they don’t tell the whole story.

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State of Supplier Diversity: Service-Focused Industries

For the third consecutive year, we at CVM, a supplier.io company, conducted our survey of supplier diversity professionals and diverse suppliers. This first-of-its-kind survey offers insight into what supplier diversity professionals experience within their own programs, as well as how diverse suppliers navigate the supplier diversity environment.

The full report also offers a broad view of the overall state of supplier diversity, but just like when you drill down into your supplier diversity metrics for more granular reporting, it's worth taking a closer look at these responses and how they relate to different areas of supplier diversity.

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Supplier Diversity Tracking, Metrics and Reporting

This blog was originally published on 12/6/2018 and updated 1/7/2020

After 50 years of supplier diversity initiatives, we know that building inclusive supply chains enable underrepresented populations to compete and thrive in business. In addition to empowering diverse-owned businesses, supplier diversity initiatives also have significant payoffs for the companies that enact them. 

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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 expert guidance, businesses can effectively establish and advance their Supplier Diversity initiatives.