about its view that its “partner diversity initiative” approach to supplier diversity can be a game-changer for supplier diversity by targeting business-to-business collaborations. And Wal-Mart, no matter its size and influence, isn’t alone on its supplier diversity journey, as it partners with leading advocacy organizations, from the Billion Dollar Roundtable, National Minority Supplier Development Council (NMSDC), and U.S. Business Leadership Network to the U.S. Pan Asian American Chamber of Commerce, Latino Coalition, and Women’s Business Enterprise National Council (WBENC). Equipped with unparalleled data intelligence, superior technology and expert guidance, businesses can effectively establish and advance their Supplier Diversity initiatives. These are the companies you might want to emulate and learn from when addressing the needs of your own supplier diversity program. In our 2017 State of Supplier Diversity Report — Supplier Diversity Programs, we offered survey respondents five options of how they find diverse suppliers (certification agencies, third-party providers, Google searches, other diverse suppliers, and “other”); participants could choose more than one option. Equipped with unparalleled data intelligence, superior technology and expert guidance, businesses can effectively establish and advance their Supplier Diversity initiatives. The second tier initiative augments our Supplier Diversity program and increases our ability to include MWBE’s in our supply chains by requiring Delta’s primary contractors to utilize and report their spending with diverse suppliers. It is not directly correlated with supply chain diversification, although utilizing more vendors may enhance supply chain diversification. On Jan. 15, the company, which earned the No. California’s energy, telecommunications, and water companies remain at the forefront of supplier diversity achievements, with a “class average” well above their peers nationwide. The Coca-Cola Company is committed to supplier diversity by maximizing procurement opportunities and proactively engaging and building partnerships with diverse suppliers. While certification is not required to do business with Microsoft, a third-party certification is required to be designated as a diverse supplier in the Microsoft procurement system. If your company meets the qualifications for the Ferguson Supplier Diversity Program listed above, follow these steps to begin the process of registration: Please complete all sections of the Ferguson Supplier Diversity Program Registration form. Taking one look at Wal-Mart’s 2015 Diversity & Inclusion Report, you can see why the world’s largest retailer is a titan of supplier diversity. 43 spot on the 2020 DiversityInc Top 50 Companies for Diversity list, unveiled its Racial Equality and Social Justice Task Force. Some of its supplier diversity approaches from its 2015 Diversity and Inclusion Report include: Wal-Mart’s annual Supplier Diversity Summit, for instance, is a one-of-a-kind event that brings together untold numbers of suppliers globally to connect with Wal-Mart buyers to “advise, advocate, and advance dialogue” between diverse businesses and internal Wal-Mart stakeholders. Top supplier diversity programs aren’t afraid to be creative in finding and developing partners. Integrating supplier diversity into corporate goals; Having the CEO sign off on supplier-diversity results; Auditing supplier-diversity numbers; Ensuring suppliers are certified; Linking procurement-management compensation to supplier-diversity goals; The Top 10 within supplier diversity are as follows: Accenture; Comcast NBCUniversal; EY; Cox Communications; PwC Some of … Many companies in the Top 50 place such an emphasis on achieving diversity goals that they tie executive compensation to the effort. A man works on the back wiring of a computer. Consider Kaiser Permanente, for which more than half of its management and professional workforce is diverse. Although Wal-Mart has the top spot on the DiversityBusiness.com Top 50 for 2016, other corporations on the list are just as formidable and worth studying for how they operate their supplier diversity programs. For over a decade CVM's mission has remained unchanged: lead the transformation of Our Supplier Diversity Program helps us attract qualified small and diverse suppliers to support our business needs. America's Top 50 Organizations for Multicultural Business. When it comes to including this traditionally disadvantaged community in the supply chain, the following companies have distinguished themselves from their peers. Following race riots in Detroit in 1968, General Motors set up what is regarded as one of the first supplier diversity programs, and much of the American auto industry followed suit. Each year, the organization unveils its Top 50 Companies for Diversity—a comprehensive, prestigious list of businesses that excel at diversity. Across the board, the companies in the Top 11 reported better supplier diversity procurement numbers than other honorees on DiversityInc’s Top 50 list. The AT&T Global Supplier Diversity Program was launched in … When the company first implemented a corporate supplier diversity policy, it did so without any … Our supplier diversity program identifies, develops and builds strong relationships with certified small and diverse businesses. For example, Dell (No. Another approach from Hilton is to look at supplier diversity in the vein of developing strategic alliances with diverse companies. Partnering with … While most supplier diversity programs have a domestic focus, The Hackett Group’s research found that more than 40 percent of all global companies with a U.S. supplier diversity program plan to expand globally within the next two to three years. Many large companies are taking comprehensive approaches with varied and wide-ranging programs. If you want to learn how supplier diversity is done—and done well—study the corporations on the DiversityBusiness.com’s list. Everyone should have the opportunity to grow their business, to experience success, and achieve their dreams. The organizations sporting the top supplier diversity programs don’t shy away from talking about diversity and have developed innovative ways to bring issues to the forefront. That kind of partnering is available to smaller corporations and many of these same advocacy groups have regional affiliates ready to assist. 1. Supplier Diversity Economic Impact Analysis, how supplier diversity is done—and done well, determine the top 50 companies for providing business opportunities, how they operate their supplier diversity programs. AT&T. Learn More. We'd like to offer enterprising diverse owned and small businesses the opportunity to do just that. In 2018, figures reported by the companies to the California Public Utilities Commission show that: We are committed to increasing the diversity of our supplier base, and helping our suppliers advance diversity, equity and inclusion within their own organizations. Businesses that participate in the program have the opportunity to: Be included and promoted in our diverse supplier locator. Here are some of the high-level characteristics exhibited by these and other top organizations—principles that any business looking to improve their supplier diversity can strive to follow: As already stated, these supplier diversity standouts also excel at overall diversity within their companies. Diversity & Inclusion: At Coca-Cola, diversity is seen “as more than just policies and practices. ... “Some of the most successful supplier diversity and inclusion programs come from companies that have diversity and inclusion in their DNA.” Having buy-in from the top down for your Supplier Diversity Program is imperative. More diversity in key decision-making roles generally trickles down to a stronger commitment to contracting diverse suppliers. Major corporations, such as Walmart, Google, and Johnson & Johnson have set supplier diversity goals for their procurement efforts. Supplier diversity initiatives help companies source goods from vendors owned and operated by socially or economically disadvantaged people. For example, Accenture instituted its Diverse Supplier Development Program in 2005 and has formally developed 129 suppliers in that time. For over 40 years, our Supplier Diversity program has been awarding contracts to women- and minority-owned businesses—including military vets, people with disabilities, and LGBT owners. DiversityInc also publishes a list of the Top 11 Companies for Supplier Diversity, and not surprisingly, all 11 also appear on the Top 50 diversity list. Supplier Technical Support AT&T has “top-down” dedication to supplier diversity, AT&T Supplier Diversity Manager Yvette Mouton maintains. Although Wal-Mart has the top spot on the DiversityBusiness.com Top 50 for 2016, other corporations on the list are just as formidable and worth studying for how they operate their supplier diversity programs. What unique ways does your organization promote diversity? © 2021 CVM | Privacy Policy / Terms of Use, Client Technical Support Supplier Registration Process. Many corporations have supplier diversity programs in place, but a select group of businesses have excelled in building relationships with minority-owned vendors. Notably, Procter & Gamble has a staff and supplier diversity program that offers compensation for successful participation in the initiative. It also strengthens vital relationships with the broad range of customers and communities we serve. Learn More. The results were illuminating: 30 percent of respondents used only one method, and just 7 percent picked all five. How Supplier Diversity Programs Work. Facebook Global Supplier Diversity connects qualified diverse-owned businesses to our fast-moving community while also helping these companies grow their business on our family of apps. 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. Check out also Verizon’s YouTube. Raw data aside, top supplier diversity programs go above and beyond to contract and develop diverse suppliers, and their diligence pays off financially, culturally, and philosophically. Nielsen’s Corporate Supplier Diversity program is committed to increasing our company’s use of services and products provided by certified diverse-owned businesses. Embracing the broadest possible array of suppliers creates a more inclusive corporate environment. Accenture's Diverse Supplier Development Program (DSDP) reflects our commitment to developing and expanding relationships with diverse businesses owned by minorities, women, persons with disabilities, LGBT, veterans, disabled veterans, and service-disabled veterans, and others. Supplier diversity at U.S. Bank By doing business with diverse suppliers, we're contributing to the growth of companies that in turn help us build the best bank in America. Thai: JPMorgan Chase's global supplier diversity programs has helped companies like SHI get into their supplier program and also have an opportunity to compete for their business.. On screen: Close-up of a woman working on a computer keyboard. This strategy, which often extends to supplier diversity programs, not only provides additional incentive to hit supplier diversity goals, but also reinforces that diversity is crucial for maintaining and improving a company's bottom line. When our Supply Network reflects the diversity of our consumers, employees, and stakeholders, our … The Hackett Group recommends that companies manage U.S. and global programs as a single initiative, where appropriate. The verdict: Wal-Mart Stores Inc. is No. P&G’s Supplier Diversity efforts began in 1976 and began a formal 2nd Tier program in 1996. In 2014, according to the report, Wal-Mart spent $13.5 billion with diverse suppliers globally, including $3.1 billion in Tier 2 spend and $4.16 billion with woman-owned enterprises. hbspt.cta._relativeUrls=true;hbspt.cta.load(371945, '3571d990-3b64-438b-bbbf-cdc7b2ce5a70', {}); Though the Wal-Mart summit program will be one of the largest, staging such events can be accomplished on almost any scale with impressive results. If you need help establishing or building out your program, CVM Solutions can offer end-to-end strategic consulting through its portfolio of managed services. It is an integral part of who we are as a company, how we operate and how we see our future.” Diversity education programmes include Diversity Training, a Diversity Speaker Series and a Diversity Library. Despite the prevalence of these programs, there’s still confusion among some business owners about the details of supplier diversity … advocates that benchmarking, which is part of CVM Solutions’ consulting portfolio, against supplier diversity spend is at the foundation of an effective supplier diversity program. hbspt.cta._relativeUrls=true;hbspt.cta.load(371945, '9788d738-fd6e-4423-ad02-950259d07b35', {}); For over a decade CVM's mission has remained unchanged: lead the transformation of Supplier Diversity program management and support Supplier Diversity programs. Employers that utilize voluntary programs, promote engagement among different groups, allow employees to be hands-on in shaping diversity solutions, and create programs that support social responsibility have far more success in building a diverse and inclusive … Supplier diversity programs recognize that sourcing product… However, there is still progress to be made. In 2014, according to the report, Wal-Mart spent $13.5 billion with diverse suppliers globally, including $3.1 billion in, Hardly any company will have the buying scope of a Wal-Mart, but its approach offers a lesson in how supplier diversity can be viable even at lesser levels. (CVM Solutions will have representatives on hand at NMSDC’s National Conference and Business Opportunity Exchange October 23-26 in Chicago.). This success includes Tier 2 spend, which requires some added effort but can yield dynamic results. The supplier diversity programs differ for each corporation or government agency, but have one thing in common: making their supply chain more inclusive and diverse by encouraging the use of vendors that are historically overlooked, such as businesses owned by minorities, women, the LGBTQIA+ community and veterans. Companies have more success increasing diversity when they drop the control tactics and frame their efforts more positively. By doing so, our Supplier Diversity efforts are greatly enhanced and meaningful business opportunities are extended even more so to MWBEs. Such an approach allows for goal setting against overall spending and the availability of quality goods and services from minority-owned and woman-owned businesses, according to Hilton. © 2021 CVM | Privacy Policy / Terms of Use, Client Technical Support Supplier Portals, Learning from the Top 50 Organizations that Support Supplier Diversity. These industry leaders offer a terrific blueprint for other organizations striving to advance their own supplier diversity goals. A Supplier Diversity program is a proactive business program which encourages the use of minority-owned, women owned, veteran owned, LGBT-owned [1], service disabled veteran owned, historically underutilized business, and Small Business Administration (SBA)-defined small business concerns as suppliers. Electronics company HP recently announced a new plan to address racial injustice and drive change. Introducing Supplier Diversity: The Global Edition. DiversityInc is one of the leading authorities and publishers in the workplace diversity space. Evidence of this can be seen in an internal commitment to diverse hiring practices, particularly in leadership and executive positions. For us, supplier inclusion means delivering better products and a broader selection to the communities we serve. Even this deep into the 2010s, diversity remains a tricky topic for companies to approach, much less discuss. We encourage diverse … Since 2007, P&G spends more than $2 billion with diverse-owned businesses every year. 1 on the Top 11 list)  participates in the Men Advocating Real Change (MARC) initiative, which “is dedicated to encouraging traditionally non-diverse individuals to advocate for and commit to diversity.” Supplier diversity programs inevitably benefit from candid approaches because top to bottom, companies recognize the value of diversity both internally and with the vendors they contract. Here are some snapshots of ways some others in the Top 50 excel at supplier diversity: DiversityBusiness.com notes that the Top 50 companies “truly differentiate themselves in the market place in a time when diversity is on the rise.” If you are looking to learn from the best of the best in supplier diversity, these Top 50 companies are among those leading the way. Given this high level of achievement P&G is a member of the Billion Dollar Roundtable, a forum of companies spending more than $1 billion annually with diverse suppliers. Other top companies hired diverse staff at a rate higher than the average rate of the Top 50—impressive considering that the Top 50 are the best of the best when it comes to diversity philosophy. And again, remember, the overall list isn’t made up of run-of-the-mill companies but businesses fully committed to diversity—so the Top 11 clearly reflect the best of the best in supplier diversity terms. Introducing Supplier Diversity: The Global Edition. Our commitment to Supplier Diversity led us to establish a formal Office of Supplier Diversity in 1998 in addition to our ongoing active outreach program. Here are some snapshots of ways some others in the Top 50 excel at supplier diversity: Companies can add value and profit to the bottom line with supplier diversity If you are looking for a tip on how to grow the value of your business and gain a competitive edge, one that the executives in the C-suite at Georgia Power, Ryder, Duke Energy, Southern Company, Frito- Lay, Microsoft or Delta Air … Continue reading Why a Supplier Diversity Program is Good for Business → hbspt.cta._relativeUrls=true;hbspt.cta.load(371945, '9e48aaa4-0d65-49af-90ec-12128e618f91', {}); For over a decade CVM's mission has remained unchanged: lead the transformation of Supplier Diversity program management and support Supplier Diversity programs. They drop the control tactics and frame their efforts more positively injustice and change. It also strengthens vital relationships with the broad range of customers and communities we serve are. 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