The National Minority Supplier Development Council (NMSDC) has announced the expansion of its pilot supplier diversity program thanks to a gift of $350,000. The program, entitled Centers of Excellence (COE) is a regional business module “designed to strengthen corporate supplier diversity processes and to help minority businesses compete in a global environment.” The initiative focuses on the education of implementation of NMSDC’s Best Practices within the industry.
According to a recent press release at Globe News Wire, the “business modules are comprised of 8-10 corporate members, 16-20 MBEs and an affiliate council president, who are committed to enhancing the supplier diversity process by implementing NMSDC minority business development best practices. Each module is facilitated by an NMSDC affiliate regional council and is held during an 18-month period.” In addition the NMSDC will look to provide scholarships for up to 75 MBEs for the COE programs over the next 18 months.
Below are just a few ways the COE program is helping both MBEs and Corporates within supplier diversity
- Aligning more closely the sales methods of MBEs with the procurement processes of corporate members
- Strengthening corporate supplier diversity processes
- Providing opportunities for corporations to benchmark successful minority supplier development strategies among corporate peers
- Providing increased business opportunities for both corporate members and MBEs through learning from each other’s competitive strengths
- Having a greater impact on improving the economic environment of the community by reinforcing the concept of buying among and between corporations and MBE companies, and
- Improving competitive market position by helping corporations satisfy the expectation of an increasingly diverse customer base