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CVM Supplier Diversity Blog

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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5 Ways to Streamline Your Tier 2 Reporting

The successful supplier diversity program includes robust Tier 2 spend, but collecting and reporting that data can be cumbersome and time consuming. Streamlining Tier 2 reporting through strategic partnerships, automation and validation not only saves time and money, they allow you to report results with confidence and focus on building relationships with primes and subcontractors.

These five strategies for streamlining Tier 2 reporting can boost the efficiency and efficacy of your supplier diversity program.

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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.