About Supplier Diversity Programs
A supplier diversity program is an initiative by an organization to include many different types of businesses in its sourcing and procurement efforts. It is a proactive effort to provide diverse suppliers equal access to business opportunities.
Tips for Building a Successful Supplier Diversity Program
An effective supplier diversity program must follow proven business principles and have corporate support from the top down.
- Align diverse suppliers with corporate strategy. Be sure the certified diverse suppliers you work with have the management capabilities and financial stability to handle your program’s demands.
- Be certain that all of your Tier I and Tier II diverse suppliers are certified by the appropriate organizations. If they are not, contact CMC.
- Make sure you have the tools in place to actively track your Tier I and Tier II spends. Only certified spends will get you a seat at the Billion Dollar Roundtable!
- Align your employees your mission. Publicize your efforts and encourage employees to support your initiatives.
- Publicize your efforts! It’s been proven that many consumer groups will actively seek out goods and services sold by organizations with favorable diversity practices.
- Routinely check your corporation’s supplier diversity program against industry benchmarks and best-in-class programs. How do you measure up?
- Learn from a subject matter expert. Book CMC’s Heather Cox to speak at an event, hold a seminar, or speak to your team.
About Diverse Business Certification
Certification by state and federal organizations is advisable to any businesses fitting the eligibility qualifications for becoming certified as a diverse business enterprise. Typically, the qualifications include a minimum of 51% ownership of the business by a member of the qualified diverse group.
Currently, the most common types of certifications are:
- Minority-Owned Business Enterprise (MBE)
- Woman-Owned Business Enterprise (WBE)
- Veteran-Owned Business Enterprise (VBE)
- Lesbian-Gay-Bisexual-Transgendered-Owned Business Enterprise (LGBT)
- Disadvantaged Business Enterprise (DBE)
- Small Business Administration 8(a) Program
- Service-Disabled Veteran-Owned Business Enterprise (SDVOBs)
Note: A diverse business can fall under several categories and can be certified in each of its appropriate diversity designations.
The Certification Process
Certify My Company provides certification assistance to diverse business owners by guiding and assisting them through the arduous process of becoming certified.
We confirm eligibility for certification, work to determine the right certifications for the business and alleviate the burden of assembling the application package. We submit the application package and monitor it until certified.
Step 1: Intake Interview℠
To begin, each company completes the CMC customized Intake Interview℠ to ensures eligibility for certification. CMC does not assist companies that do not meet the eligibility requirements for the intended certification 100%.
Step 2: Documentation Meeting℠
The next step is to understand the company’s history and target clientele. Our goal is to educate business owners on the various certifications and identify those that make the most sense for them and their business.
The Documentation Meeting℠ is the opportunity for the business owner along with their diversity specialist to establish the most effective and efficient way to gather the necessary documentation. Some opt to remain hands-on and directly supply the specialist with necessary credentials and paperwork. Others prefer to relay contact information of their knowledge sources and rely on the specialist to obtain required documents. The process is a team effort, but our mission is to remove the rigorous workload from the business owners so they can focus on what they do best...growing their businesses.
Throughout the information collection process, our trained professionals review the documentation to ensure that the paperwork accurately reflects the true composition of the business. With up to 60% of applications denied due to technical rejections, the proper verbiage of critical materials is crucial to a successful application.
Step 3: Proprietary Submission Process℠
Once completed, the application package is reviewed no less than three times to assure accuracy and precision. CMC then submits the application package through our Proprietary Submission Process℠, and maintains contact with each region and organization until certification is granted.
Most certification processes take anywhere from thirty to ninety days, depending on the complexity of the certification application submitted and the jurisdiction. Regional certification review boards are responsible for conducting a thorough review of the certification application in accordance with jurisdictional standards and practices.
Certification typically lasts for one year from the date of approval. Each application is subject to review for any material changes to the ownership and control of the company on an annual basis. When assistance with amendments to certification or recertification is required, CMC is ready to offer its services.