WESTCHESTER, Ill., April 3, 2018 /PRNewswire/ -- CVM Solutions, a Kroll company and leading provider of supplier diversity technology, data, and services, today announced the results of two supplier diversity surveys they conducted in December 2017 and January 2018. Reports examining the results of these surveys can be downloaded at https://info.cvmsolutions.com/download-the-2018-state-of-supplier-diversity-reports.
Last year, CVM published two groundbreaking reports that revealed what supplier diversity professionals experience with their own programs, as well as how diverse businesses navigate the supplier diversity environment. For 2018, CVM expands the survey's scope. The results, generated from the responses of 162 supplier diversity professionals and 380 suppliers, provide another keen overview of the state of supplier diversity. Among the findings:
- 72 percent of supplier diversity programs cited corporate social responsibility as the top driver of their efforts.
- Certification agencies are the primary way companies find diverse suppliers, with 72 percent of respondents saying this is one of the methods they employ.
- Tier 2 spend is tracked by 68 percent of surveyed supplier diversity programs.
- 62 percent of diverse suppliers surveyed have been in business for at least 11 years.
- 92 percent of responding minority-owned businesses are certified as such by an appropriate reporting agency, as are 87 percent of woman-owned businesses.
"Diverse suppliers have tremendous opportunities in 2018, as well as valid concerns, including the struggle to connect with new partners," says John Suarez, Marketing Manager for CVM Solutions. "Also, our survey found that although supplier diversity programs are expanding and finding success, many still face challenges in achieving and surpassing their goals. Once again, our reports explore the current supplier diversity landscape and offer an enlightening look at the future of the industry."
For additional information about these reports or CVM's services, visit the company's website at www.cvmsolutions.com.
About CVM Solutions
CVM Solutions, a Kroll Company, is a leading provider of global supplier data and supplier diversity solutions. CVM delivers data, services, and technology critical to supplier data management, and to the advancement of supplier diversity initiatives and corporate sourcing objectives. As a data aggregator and originator for Tier 1 and Tier 2, CVM has partnered with more than half of the Fortune 100 and Billion Dollar Roundtable members to leverage and consolidate supplier information, thus enabling CVM's clients to increase supplier diversity results and take their programs to the next level. For more information, visit www.cvmsolutions.com.
Contact Info:John Suarez, Marketing Manager