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Supplier Intelligence

3 Key Takeaways from the 2017 NMSDC Conference

At the 2017 NMSDC Conference and Business Opportunity Exchange, attendees were offered a selection of technology-focused programming that looked forward to the future of the supply chain. Sessions ranged in topic from cybersecurity and cyber threats to embracing digital disruption and how small businesses can leverage existing technology for success.

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The World of Supplier Diversity—As Seen from Diverse Suppliers

Perhaps the most important aspect of supplier diversity is the diverse suppliers themselves. Thanks to these key vendors, companies can realize the economic, operational, and reputational advantages of a diverse supply chain. At the same time, diverse suppliers are given additional opportunities to thrive and show they can deliver excellence as well as, if not better than, their larger, non-diverse counterparts.

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Which Features Are Important in Vendor Management Software

Supplier diversity programs are typically understaffed and under-resourced, yet the work done by supplier diversity professionals is vital to the health and growth of the supply chain. Adding another element–such as Tier 2 reporting, vetting potential suppliers, or verifying data integrity–might be necessary to grow your supplier diversity program, but who has the time?

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How Can Supplier Diversity Reduce the Risk to an Organization?

“Consolidation is the key to success!” “Streamline your supply chain for maximum efficiency and cost savings!” Sound familiar? We've been told for decades that using a single supplier for as many products and services as possible is a smart business decision.

But what if it's not? What if consolidation is the key to catastrophe?

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4 Ways to Achieve Supplier Diversity Program Excellence

Recent research from The Hackett Group confirmed what supplier diversity experts have been saying all along: A strong supplier diversity program offers innumerable benefits without overburdening the organization. From Hackett’s news release, this quote from Laura Gibbons, Hackett’s Research Director, particularly caught our eye:

“Overall, the risks to focusing on supplier diversity are quite low, and the potential upside is significant. In fact, up to 10 percent of sales come with supplier diversity requirements, suggesting that the lack of such a program can even result in lost revenue.”

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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.