Three recent reports on supplier diversity highlight the need for action to fuel our country’s economic growth.
2018 NMSDC Supplier Diversity Business Case: MBE Development is America’s Future
In its 2018 Business Case on Minority Business Enterprises, The National Minority Supplier Development Council urges the Trump Administration and members of Congress to fully enforce existing Minority Business Enterprise (MBE) related federal rules, align federal certification processes with market realities, and pilot programs utilizing NMSDC certification expertise and talent. According to the report, NMSDC is not asking for business welfare or handouts, but rather seeks to build strategic and mutually-beneficial partnerships in which corporate needs are met – and often exceeded – by MBEs who want nothing more than an opportunity to bid for and do the job.
The business case highlights the positive economic impact MBEs have on communities throughout our nation and corporations. NMSDC calls for the reconsideration of legislation that would eliminate funding for the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce, created in 1969 by President Regan. NMSDC calls for President Trump to understand and support our value proposition: to build strategic, mutually beneficial partnerships in which corporate needs are met – and often exceeded – by MBEs who want nothing more than an opportunity to bid for and do the job.
Research challenges the attitude of many business leaders, who worry that dedicating resources to supplier diversity will divert attention from other strategic services. “By every metric, MBEs certified by NMSDC are recharging the American economy with their success and growth.”
2018 CVM Supplier Diversity Programs: Certification Gets You Noticed
CVM, a trusted advisor to the Supplier Diversity community, recently released their second State of Supplier Diversity Report focusing on Supplier Diversity Programs. In 2017 CVM identified trends, challenges, triumphs, shortcomings, and other interesting findings about the supplier diversity space from the point of view of the professionals within companies’ supplier diversity programs. This year, 2018, the CVM team learned that while much has stayed the same … much has changed.
Some of the more interesting findings, which are detailed throughout this year’s report, include the fact that corporate social responsibility is a top driver of these programs and certification agencies like The Council are the primary resources for identifying diverse suppliers.
2018 CVM Diverse Suppliers: The Struggle is Real
CVM, a trusted advisor to the Supplier Diversity community, released their second State of Supplier Diversity Report focusing on Diverse Suppliers. Much of what they discovered suggests that diverse suppliers are still struggling to capture the attention of corporate buyers. Networking during events was cited as the primary vehicle to connect with prospects. The biggest challenges facing diverse suppliers, as identified in the report, center around a feeling of frustration with supplier diversity programs, a lack of executive commitment, and an inability to connect with procurement and decision makers.
The report notes that diverse suppliers appreciate the efforts of supplier diversity representatives and have valid concerns about the ability to connect with corporate partners.
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