state of supplier diversity report– diverse …...2018 state of supplier diversity report–...

2018 STATE OF SUPPLIER DIVERSITY REPORT– DIVERSE SUPPLIERS Welcome to CVM Solutions’ second edition of the State of Supplier Diversity Report—Diverse Suppliers. to our 2018 survey, which provided valuable insight into the state of supplier diversity from the important point of view of the diverse suppliers themselves. We received more than 380 responses ARE YOU CERTIFIED AS A DIVERSE SUPPLIER IN YOUR CATEGORY? (respondents could choose multiple answers) of minority-owned business enterprises are certified 91.5% of woman-owned business enterprises are certified 87% of veteran-owned business enterprises are certified 69.2% of service-disabled veteran-owned business enterprises are certified 81% of disability-owned business enterprises are certified 50% of LGBTQ-owned business enterprises are certified 92% of small business enterprises are certified 94.7% HOW LONG HAVE YOU BEEN IN BUSINESS? What do you enjoy most about supplier diversity? “It builds a foundation for excellence in the workplace with disparate views, opinions, and expertise.” 11+ Years 12.7% 48 respondents 22.7% 86 respondents 62.3% 236 respondents 2.4% 9 respondents < 1 Year 1-3 Years 4-10 Years What is your biggest challenge in the supplier diversity space? “We are a tech startup with innovative and meaningful products. It’s difficult for us to meet procurement requirements because they are set up for larger, more established companies.” What do you enjoy most about supplier diversity? “The leveling of the playing field for small businesses to win contracts when up against larger competitors with greater resources.” HOW MANY CORPORATIONS IS YOUR ORGANIZATION CURRENTLY WORKING WITH AS A DESIGNATED DIVERSE SUPPLIER? WHAT ARE YOUR TOP THREE WAYS TO FIND CORPORATIONS TO PARTNER WITH? AS A CONSUMER, DOES AN ORGANIZATION WITH A SUPPLIER DIVERSITY PROGRAM INFLUENCE WHETHER OR NOT YOU WILL BUY FROM THEM? (respondents could select up to 3) Registration sites 45% Online forms 14% Emails 43% Cold calls 35% Outside sales 26% Networking/Industry events 74% Other 11% RFPs 45% 41% of respondents received at least one opportunity via a supplier diversity portal Strong Influence No Influence Slight Influence 18.1% 49 respondents 35.6% 96 respondents 46.3% 125 respondents CONCLUSION Diverse suppliers have tremendous opportunities in 2018, as well as valid concerns, including the struggle to connect with new partners. Download the Full 2018 State of Supplier Diversity Reports here Get noticed by Fortune 500 corporations by using our supplier registration platform, or visit our website at www.cvmsolutions.com to learn more. Also, contact us if you want to participate in our 2019 diverse suppliers survey 0 Corporations 18.7% 62 respondents 32% 1-3 Corporations 106 respondents 4-5 Corporations 17.8% 59 respondents 6-9 Corporations 10.9% 36 respondents 10+ Corporations 20.5% 68 respondents

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2018 STATE OF SUPPLIER DIVERSITY REPORT– DIVERSE SUPPLIERS

Welcome to CVM Solutions’ second edition of the State of Supplier Diversity Report—Diverse Suppliers.

to our 2018 survey, which provided valuable insight into the state of supplier diversity from the important point of view of the

diverse suppliers themselves.

We received more than 380 responses

ARE YOU CERTIFIED AS A DIVERSE SUPPLIER IN YOUR CATEGORY?

(respondents could choose multiple answers)

of minority-owned business enterprises are certified

91.5%of woman-owned business

enterprises are certified

87%

of veteran-owned business enterprises are certified

69.2%of service-disabled

veteran-owned business enterprises are certified

81%

of disability-owned business enterprises are certified

50%of LGBTQ-owned

business enterprises are certified

92%

of small business enterprises are certified

94.7%

HOW LONG HAVE YOU BEEN IN BUSINESS?

What do you enjoy most about supplier diversity?

“It builds a foundation for excellence in the workplace with disparate views, opinions, and expertise.”

11+ Years

12.7%48 respondents

22.7%86 respondents

62.3%236 respondents

2.4%9 respondents

< 1 Year

1-3 Years

4-10 Years

What is your biggest challenge in the supplier diversity space?

“We are a tech startup with innovative and meaningful products. It’s difficult for us to meet procurement requirements because they are set up for larger, more established companies.”

What do you enjoy most about supplier diversity?

“The leveling of the playing field for small businesses to win contracts whenup against larger competitors with greater resources.”

HOW MANY CORPORATIONS IS YOUR ORGANIZATION CURRENTLY WORKING WITH AS A

DESIGNATED DIVERSE SUPPLIER?

WHAT ARE YOUR TOP THREE WAYS TO FIND CORPORATIONS TO PARTNER WITH?

AS A CONSUMER, DOES AN ORGANIZATION WITH A SUPPLIER DIVERSITY PROGRAM INFLUENCE WHETHER OR NOT YOU WILL

BUY FROM THEM?

(respondents could select up to 3)

Registration sites

45%

Online

forms