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CVM Supplier Diversity Blog

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Recent Posts

Discussing the Benefits of a Supplier Diversity Program with Your CFO

 

The chief financial officer (CFO) is the steward of any organization’s finances. This senior executive, charged with duties that include financial planning, maintaining cash flow, managing financial risk, leading budget management, forecasting, and record-keeping, likely will have a say in all major decisions of the company.

As procurement and supplier diversity managers know, communicating with the CFO on the benefits of supplier diversity programs and initiatives is essential to success. Fully articulating the business case for the supplier diversity program to the CFO, along with other top executives, including the CEO, is always a good idea. The aim is to get buy-in for initiatives from the highest levels of the organization the benefits of business and cultural diversity to the organization.

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Tier 2 Reporting a Key Component of Sustainable SD Programs

 

If you are looking to expand your supplier diversity efforts and push your program to greater heights, thus ensuring that a sustainable process continues for bringing diverse suppliers into your supply chain, look no further than Tier 2 reporting. 

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5 Ways to Strengthen Your Supplier Management Process

As benign terms go, “supplier management” must be at the top of the list. Yet in the world of corporate procurement, no term may be as important. Supplier management is analogous to managing relationships and interactions with external organizations that supply goods and services to your organization. It is essentially your strategic plan for managing supplier resources that permeate throughout your organization. You need to meet the market’s demand for your products in a highly competitive global sourcing environment, and your suppliers must be right there with you.

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3 P's to Supplier Diversity

Marcus Lemonis, the host of “The Profit” television program on CNBC, works with ailing businesses to turn them around. Shayna Rattler is a diversity business strategist who works with organizations on supplier diversity initiatives through her Supplier Diversity Academy website.

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How Data Enrichment Leads to Successful Supplier Diversity Programs

Your successful supplier diversity program requires accurate, relevant data to ensure not only the integrity of reporting but the strength and quality of the program. Industry best practices advise regular data cleansing and data enrichment to ensure quality, up-to-date data.

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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.