Welcome back for Episode 3!
Today we are excited to bring to you our third episode of the #WeAreNMSDC Podcast campaign. This time around, we highlight Raul Suarez Rodriguez, Supplier Diversity Manager and Jesse Gonzalez, Senior Analyst of Supplier Diversity at CVS Health, an American retail pharmacy and health care company located in Rhode Island. In our conversation with Rodriguez and Gonzalez, we discuss the growing supplier diversity program of the company, their billion dollar success story, and the positive economic impact of CVS Health on GDP, purchasing, and job creation.
To learn more about their program, simply listen to the podcast!!!! For a brief summary of our conversation, check out the 5 Fast Facts section below.
CVS Health Podcast
0:50 Tell us about CVS Health.
1:45 CVS Health is more than just a retail store.
4:02 An overview of CVS Health’s Supplier Diversity program?
7:00 CVS Health and the Billion Dollar Roundtable.
10:05 What is the business case for Supplier Diversity?
13:30 How diverse suppliers can make sure their company is included in the RFP process
17:25 Appropriate Follow Up measures from suppliers.
19:30 How has CVS Health helped to develop diverse suppliers?
26:50 What does CVS Health want to achieve from its supplier diversity program?
28:30 Economic Impact Study
30:23: CVS Mas; CVS store targeting Hispanic consumers
WeAreNMSDC 5 Facts about CVS Health
- In 2016, CVS Health became a member of the Billion Dollar Roundtable (BDR). The BDR is an organization that recognizes corporations that have spent more than $1 billion with minority and women owned companies annually.
- After purchasing a Hispanic store chain, CVS Health incorporated the organization’s market setup to create a chain of shops called CVS Mas. CVS Mas currently operates in the states of Florida, Texas, and California, focusing on connecting with Hispanic consumers in those areas.
- On the retail side, CVS Health looks to include at least 5 diverse businesses in RFP contract opportunities. To get your company included in the RFP process, make sure you register and follow up (according to CVS Health, only 2 out of 10 suppliers they meet follow up).
- CVS Health is big on uncovering its economic impact. The company recently completed its own economic impact study to measure its influence on GDP, organization spend and job creation in America. To listen to the exact numbers, check out the podcast at the time [28:30]
- The company offers its CVS Health Executive Education Program to help in diverse business development and training. It is a very in depth program and something I think every company should consider being apart of
Supplierty News in conjunction with the National Minority Supplier Development Council (NMSDC) have teamed up to connect with NMSDC corporate and MBE members for podcast interviews. These conversations will highlight the benefits of supplier diversity programs from the personal experiences of both corporate and minority-owned businesses. If you’re interested in supporting the effort, Follow both Supplierty News and the NMSDC on Twitter, Linkedin, and Facebook, and visit their websites for more information. Also don’t forget to mention #WeAreNMSDC on all social media platforms.