One Key to Successful Supplier Diversity Strategies: Feedback

Supplier Diversity Success Keys: Performance Feedback.


Have you ever heard a buyer or project manager lament about their company's diverse suppliers? "We wish we could do more business with diverse suppliers. It's just that the ones we have now can't seem to ______ (fill in the blank).  
Is this a sign of supplier performance problems or an indication of a feedback problem? Perhaps both, but the first will likely not improve without correcting the second.

How will a supplier know what areas to improve without clear, constructive feedback? 
In an article published earlier this year by Industry Week, titled "Who's Keeping Score" the author spells out some strategies that apply across the board in supplier evaluations. If your strategic objectives include strengthening corporate supplier diversity relationships and inclusion, this is a good place to start. 

In your conversations with current and potential diverse suppliers, be able to articulate what is expected. Know what is, or can be, quantifiable and then, measure it. Get input from each internal stakeholder and touchpoint at your firm. This provides not only relevant data, but also keeps the staff involved. Part of the value of building those supplier relationships is derived from substantive information flowing in BOTH directions. Create a feedback loop that will add value; it will be well worth the investment of time and resources. The dividends will appear almost immediately.



Look to DMMI for assistance with your win-win approach to designing and managing Diversity Programs. Supplier Diversity equals cost and revenue returns, not merely socio-economic response.




E-mail us if you are seeking help with managing your Supplier Diversity objectives. 


© 2009 DMMI Associates LLC – All rights reserved

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DMMI Associates LLC - Thanksgiving Message

What will you be thankful for this Thanksgiving?


I do recognize that the Thanksgiving holiday is celebrated in only two countries of the world. How grateful I am that I live in one of them.

Just click the play arrow below to run the video message. Enjoy. 

Just 2 minutes. To play in [Full Screen] mode, click the toggle screen icon in the lower right panel of the playback window. 

If you would like to have a similar message in this season, or any other, click here for more information. 

DMMI Associates - Thanksgiving Greeting...

E-mail us if you would like to be thankful for additional business growth next November. 


© 2009 DMMI Associates LLC – All rights reserved

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Supplier Diversity - A "Big Corporate" Example

An Example of a "Big Corporate" Supplier Diversity Success Story at Chevron.


This story of a Fortune 50 corporation partnering with a WBE firm impressed me enough that I chose to share it. Sandra Floyd, who owns OUTSOURCE Consulting Service in Oakland, California, is experiencing successes on two levels. Her firm supplies services to Chevron, as a MWSBE vendor. The relationship has also positioned both companies to give back to the community. Thus yielding a Triple Win for key stakeholders: 

1. A large corporation is successfully working toward meeting diverse supplier participation goals.
   
2. A small business is able to thrive and grow with a large, stable client in its customer base. 
3. The community wins through job creation and a creative give-back project.
   

See the 1-minute video at the bottom of this linked web page on the Chevron website for the full story.

This illustrates the type of approach DMMI uses in designing Supplier Diversity Programs. Through meeting the needs of multiple stakeholders, our clients realize both tangible and intangible Returns on their Investments (ROIs).



DMMI is uniquely positioned to understand the perspectives of both the small business, meeting the demand to be ready, willing, and able to compete, as well as those of larger firms looking to conduct business with them. Watch our video below to see how we may be able to help you and your company.

Diversity Program Management Services

E-mail us if you are seeking help with managing your Supplier Diversity objectives. 


© 2009 DMMI Associates LLC – All rights reserved

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