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CVM Supplier Diversity Blog

What Is a Supplier Risk Assessment?

Companies need suppliers to provide key functions, goods, and services to thrive. When the supply chain is diverse, organizations benefit even more.

Yet, every vendor you contract, every component you buy for your production line, and every operational necessity you outsource carries added risk. Unless you plan on not using a single supplier at all—which is, of course, virtually impossible—that risk is unavoidable.

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5 Benefits to Implementing a Supplier Registration Portal

Becoming a supplier diversity professional was supposed to be how you changed the world or at least improved a corner of it. You got into supplier diversity to strengthen the supply chain, bring innovative solutions to your organization, and positively impact both your company's bottom line and the diverse suppliers you cultivate relationships with. Instead, you spend hours collecting and entering supplier data into spreadsheets, calling to verify your data is correct, and wondering where it all went wrong. 

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How Often Should Data Enrichment Be on Your Radar?

Did you know that every year approximately one-third of supplier data become outdated? That's disheartening news if you're still spending hours and hours manually entering and verifying supplier data. Manually adding and verifying supplier information is time-consuming and costly. Unfortunately, because we are human, manual data preparation is also a guaranteed path to data inaccuracy.

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Trying to Do Supplier Management Using Excel?

Many businesses begin their supplier management program using Microsoft Excel, that old stalwart of the business world, to track suppliers and spend. In the beginning, using Excel is generally adequate, but as your supplier base grows and you begin to develop goals and strategies related to your suppliers, you need more than what Excel can offer.

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What is the Federal Acquisition Regulation? And Why Is Being FAR Compliant Important?

In May 2016, the Department of Defense (DoD), General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA) issued a Final Rule to add a new subpart and contract clause (52.204-21) to the Federal Acquisition Regulation (FAR) “for the basic safeguarding of contractor information systems that process, store, or transmit Federal contract information.”

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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.