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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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Supplier diversity program managers often have requirements for special projects and ad-hoc reporting that take time away from the strategic focus of supplier diversity initiatives. Let CVM provide assistance on these tactical efforts.

CVM Special Projects & reporting

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Reporting Assistance

Ask any Supplier Diversity program professional, and the majority will attest to the fact that diversity reporting requirements are the most time-consuming, cumbersome tasks of their role. However, it’s also the most critical component to measure success of your program. CVM’s expert staff is trained at proficiently developing specialized reports to enable your organization to fulfill its reporting requirements in a more cost and time effective manner. Examples of our reporting capabilities include Supplier Diversity council annual purchasing reports, government reporting, as well as tailored ad-hoc reporting.

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Award Applications Made Easy

Receiving industry Supplier Diversity awards provides your organization the recognition needed to gain internal support as well as strengthening the development of your supplier relationships. It does, however, come at a cost of hours spent completing applications such as NMSDC Corporation of the Year, WBENC Top Corporations and the DiversityInc Top 50. CVM’s staff can assist you with the awards application process freeing you up to spend time on more strategic initiatives.

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Benchmark to Gain Insight

Benchmarking provides your organization with reasonable and achievable program targets, identifies weak areas in your process, challenges the status quo and provides a strong motivator for change. It goes beyond just comparing your organization’s diverse spend to a similar organization in the industry. CVM’s Supplier Diversity experts provide a best-in-class benchmarking framework. Equipped with program data from over 350 companies, we’ll find a common ground for benchmarking comparisons, providing you with the insight required to establish comprehensive and meaningful goals to advance your program.

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SBA Plan & Framework

Preparing for and reporting to the Federal Government and Small Business Administration can be a complicated and time consuming process. CVM can assist you with preparing your annual Subcontracting Plan submission as well as help with data generation that is needed to submit your eSRS reports. In addition, CVM will work with you to create an execution plan to increase spend and supplier utilization in small business areas where you may be falling short of meeting government goals and requirements. Once baseline has been established, CVM will assist with identifying reasonable targets by reviewing current procurement projects and identifying sourcing opportunities for small business inclusion.

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