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CVM Supplier Diversity Blog

3 Steps to Beginning Tier 2 Reporting

When your supplier diversity program has been established and Tier 1 reporting is well underway, it's time to expand into tracking and reporting Tier 2 spend. 

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Boost MWBE Spend Through Tier 2 Diversity Initiatives

This blog was originally published on 6/1/2013 and updated on 12/30/2019.

When considering strategies to increase engagement and spend with diverse suppliers, supplier diversity programs must be willing to be moved to tiers. (Sorry, we couldn’t resist the obvious pun!) Tier 1 and Tier 2 are important terms to know when describing suppliers, especially diverse suppliers, and the supplier diversity Tier goals that companies set and strive to meet. Tier 2 suppliers are of special note because these businesses offer the potential to partner with more diverse suppliers and grow your diversity initiatives.

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What You Should Know: Tier 1 vs Tier 2 Supplier Diversity Spend

What is the difference between Tier 1 and Tier 2 Supplier Diversity Spend?

What about direct and indirect spend? Third parties and fourth parties?

These terms are used often in procurement and have inevitably found a place in the supplier diversity discussion. The distinction between each of them is something you should be paying attention to.

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The Keys to Building a Strong Tier 2 Program

Establishing a Tier 2 supplier diversity program is fundamental in advancing and maturing your supplier diversity program. Strong Tier 2 programs are built on a foundation of measurable goals, timely communication, and the tools to help track and report spend.

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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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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.