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           Supplier Diversity Program Support & Management

 

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Whether you're just beginning your Supplier Diversity Program, advancing your SD program, or have a special supplier diversity project that you need assistance with, CVM is here to help every step of the way.

A CVM Supplier Diversity subject-matter expert can provide guidance and handle the creation of a world-class Supplier Diversity program.

Supplier Diversity Program Creation

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Create the Business Case and Establish Program Goals

Developing an effective business case is a critical component of gaining executive buy-in and attaining necessary budget required to successfully establish a Supplier Diversity program. A CVM supplier diversity expert will interview key stakeholders within your organization to evaluate and determine the business drivers for developing your program. From there, we’ll help you develop your short and long term goals, incorporating benchmarking statistics within your industry. We’ll provide proposed methods for measuring and reporting your success, as well as co-present your program plan and goals with your executive staff.

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Define Your Supplier Diversity Scope and Certification Policies

Defining the scope of your organization’s Supplier Diversity program is a critical element to its success. Developing certification policies, deciding whether to report on spend with classified suppliers and/or small businesses, which certifications to accept, as well as determining which diversity categories to track are just some of the initial steps in defining your program guidelines. CVM will work with your organization to develop and document the guidelines and framework of your program.

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Establish Internal and External Communication Plans

Most Supplier Diversity programs are managed by one or two individuals within the procurement organization, a relatively small team for a BIG job. For this reason, developing and executing a thorough internal communication plan is imperative to achieving your program goals, as success is achieved through internal contributions from the entire organization. CVM’s expert staff has communication plan execution down to a science. We’ll assist you with drafting multiple messages specific to internal and external audiences that clearly define the program scope, details, and goals.

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Establish a Diverse Supplier Baseline

Once you’ve outlined the scope of your Supplier Diversity program the next step is to establish a diverse supplier baseline to identify which of your current suppliers are diverse and/or small business enterprises. This is accomplished by engaging CVM for a complete Data Enrichment project. As an additional service, a CVM representative will review your enrichment results with you to provide an in-depth analysis on strategic areas to increase your diverse spend, as well as provide insight on ways to expand your supply base with new diverse suppliers trusted by hundreds of CVM’s customers.

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A CVM Supplier Diversity subject-matter expert can provide consulting for the full life-cycle of a Supplier Diversity program, no matter what stage you're in.

Supplier Diversity Program Advancement

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Define a Growth Strategy and Establish Goals

CVM’s subject matter experts empower you to overcome the challenges your organization faces by providing proven best practices needed to advance your Supplier Diversity program. We’ll perform a complete analysis of your program to identify potential areas for growth and enhancement, including a thorough interview with key stakeholders and benchmarking against similar organizations in your industry. We’ll provide a detailed project plan, outlining specific and measurable goals to execute and achieve your growth strategy. We’ll also work with you to improve internal partnerships with your procurement organization, enabling them to deliver efficiencies and bottom-line results.

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Increase Sourcing Opportunities with Certified Diverse Suppliers

A proven successful method of achieving program growth is to partner with your key suppliers to convert their diversity status from classified to certified. We’ll partner with you to determine which suppliers are most suitable for the project, and work directly with your suppliers to ensure the transition goes smoothly. Additionally, CVM can assist you with vetting and qualifying new diverse suppliers you would like to include in your procurement initiatives.

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Presenting the ROI on Supplier Diversity

It’s important that your program is relevant and aligned with the organization’s goals, which also need to be connected to the CEO and CPO’s strategic objectives. These include protecting and growing revenue, reducing costs, reducing risk and increasing overall shareholder value. It’s critical to create, track and align relevant metrics that are specific to your organization’s core business drivers. These may include metrics such as average contract amount, cost savings and avoidance, revenue growth, category assessment and supplier rationalization and the like. CVM can assist you with defining the ROI for your Supplier Diversity program, delivering the tools you need to achieve the executive buy-in, budget and support necessary to enable program growth.

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Establish Supplier Diversity Contract Language and Document Collection

As your program continues to evolve, procurement contracts can include Tier 2 goals and reporting requirements. CVM can provide you with necessary templates and tailored contract language to communicate these new requirements to your suppliers and assist in the collection of diverse supplier certification and affidavits.

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CVM Solutions considers people, process, and technology when developing your strategy. We’ve had years of experience in developing customized solutions based on each of our customer’s unique needs and have worked with programs in every stage of their evolution.

CVM Advisory & Consulting

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Business Case

Build a robust business case on the strategic importance of supplier diversity, tailored to your organization and industry, to attain stakeholder and executive buy-in.

Get Results

Create value-driven metrics and program goals while ensuring you are meeting government and customer compliance requirements.

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Tier 2

Advise and assist with the creation and advancement of a Tier 2 initiative or expanding your supplier diversity efforts globally.

Program Promotion

Craft an awareness campaign and communication plan to educate stakeholders and bolster organizational reputation.

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Analyze Data

Analyze your spend data to provide benchmarking insight, identify opportunities to increase your use of diverse suppliers, and increase your economic impact.

SWOT Analysis

Provide analysis indicating strengths, weaknesses, opportunities and threats (SWOT) of the current and future program landscape.

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Supplier Mentorship

Facilitate diverse supplier mentoring and a supplier development program.

Increase Team Capacity

Increase capacity or output of your team without the need of hiring or staffing additional FTEs.

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