by Ray Hayes
CVM Solutions is a global provider of supplier data and supplier diversity solutions with the mission of contributing to the growth and success of supplier diversity. In its efforts to support supplier diversity programs, CVM recently launched the first annual State of Supplier Diversity Report.
We at Supplierty News, believe that diversity is extremely important and imperative to the future of America, which is why we also believe that the new CVM report is valuable in many ways. According to PR Newswire, CVM Solutions set out, “…to discover what supplier diversity professionals are experiencing with their own programs, as well as how diverse businesses are navigating the current supplier diversity environment.” Their report takes a look at the industry and highlights several factors below:
- Corporate responsibility was identified as the top driver of supplier diversity programs; alignment with corporate culture and workforce inclusiveness came in second.
- A quarter of supplier diversity professionals rate their programs as very effective; another 44 percent say their programs are somewhat effective.
- Only 15 percent of supplier diversity professionals measure the economic impacts of their programs.
- More than a third (34 percent) of responding professionals have a formal supplier development program.
- More than half of responding suppliers say at least a quarter of their business is with Fortune 1000 companies