Supplier diversity is crucial for supporting Veteran-Owned Businesses (VOBs) and integrating them into supply chains. To ensure success, it is vital for companies to create a tailored approach with top-level buy-in. Here are some key leading practices to enhance supplier diversity for VOBs: 1. Establish a specific supplier diversity policy for veterans: Company culture plays a significant role, and when executive leadership is committed to this initiative, success is more likely. This commitment can lead to valuable opportunities and internal initiatives. 2. Partner with professional groups: Collaborate with organizations like NaVOBA, NVBDC, and CVOB to incorporate qualified VOBs into your supply chains. By sharing opportunities and learning best practices, companies can strengthen their supplier diversity efforts. 3. Establish mentorship programs for potential suppliers: Mentor-protégé programs benefit both parties involved. Suppliers gain insights into the company's operations and decision-making processes, while also making key connections. These programs enhance a VOB's competitiveness in the supplier market. 4. Implement favorable payment terms: Offering special payment terms, such as shorter payment periods, can significantly benefit smaller VOBs. These terms support VOBs in managing their cash flow and overall business operations effectively. By implementing these leading practices, companies can not only hire veterans but also actively support and engage VOBs in their supply chains. #ConstructionInclusionWeek2024 #SupplierDiversity #VeteranOwnedBusinesses #DiversityandInclusion #NVBDC
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A seal that confirms a supplier's commitment to diversity? NMSDC is more than a badge—it’s a gateway to contracts and partnerships with major American corporations actively working to expand and diversify their supply chains! I wanted to know more about this and that's when Manoj shared the following insights: ♾️ The NMSDC certification is evolving as a game changer for suppliers. ♾️ Over the next decade, increased focus on #inclusive procurement strategies will further enhance opportunities for certified minority suppliers to thrive. ♾️ One of a kind, this NMSDC conference had suppliers AND client businesses put up their booths.🌟- bit of a matchmaking on the basis of diversity! This left me perplexed. Had you ever considered how #supplierdiversity could reshape our business landscape? On a side note, if you're looking for insights or guidance on sales leadership, Mr. Manoj Pandey has been a key part of GlobalPoint Inc for the past few years. And also a big shout out to him for guiding me through this! #dotSolved #DEI #techforgood National Minority Supplier Development Council (NMSDC)
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NelsonHall have recently published their Annual Report assessing Global Employer of Record Services. We're thrilled to have be recognised as a global 'Leader' for the 4th consecutive year! 🌟 The NEAT methodology, developed by NelsonHall, evaluates and assesses vendors through a straightforward framework: ➡ Two-Axis Model, NEAT uses a two-dimensional approach: - One axis measures how well a vendor can deliver immediate benefits. - The other axis gauges the vendor’s ability to fulfill future client needs. Evaluation Criteria: - Current performance and capability. - Ability to innovate and prepare for future client demands. Vendor Categories: 🏆 Leaders - Excellent in both immediate delivery and future readiness. 🥈 High Achievers - Great at immediate delivery but could improve on future readiness. 🥉 Innovators - Focused on the future but need to enhance immediate delivery capabilities. 💐 Major Players - Significant vendors who don't fit neatly into the other categories. For access to the report please click here - https://lnkd.in/eGgQAamT #eor #employerofrecord #velocityglobal #leader
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𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐍𝐞𝐰𝐬! ✨ Meet Tim Ruef, CEO at Ruef and Associates LLC Retained Executive Search. He's a key figure in the merger with Executive E-Solutions. In a career spanning over forty years, Tim Ruef has developed strategies and implemented programs that have dramatically improved sales growth and created a remarkable customer experience. From his leadership in the pharmaceutical industry to building a highly successful retained search firm he has continually enhanced efficiency, delivered results and fostered strong employee engagement. Executive E-Solutions is looking forward to accelerating growth in the pharmaceutical/biotech industry under the guidance of this veteran and visionary leader. Tim launched more than eight products at Pfizer and Merck. One of these products, with over $2 Billion in sales, was considered the most successful launch in Merck’s history. With his documented leadership and organizational expertise, we are ready to fuel growth both in the short and long term. As a former Captain and Ranger in the United States Army, Tim Ruef also adds to the diversity already a hallmark of E-Solutions. We are excited to have him and have established a dedicated unit to drive success in this exciting new target within the Executive E-Solutions universe. . . . . #ExecutiveLeadership #PharmaceuticalIndustry #BiotechInnovation #LeadershipExcellence #EmployeeEngagement #VeteranLeader #BusinessGrowth #OrganizationalExpertise #SuccessStories #ExecutiveSearch #VisionaryLeadership #MilitaryLeadership #IndustryInnovator #LeadershipDevelopment #CorporateStrategy #TalentAcquisition #GlobalExperience #ProfessionalNetwork #MarketExpansion #IndustryInsights #LeadershipLegacy #Innovation #Growth
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🔍 **Navigating Supplier Diversity Challenges** 🔍 As a former supplier diversity manager for a Fortune 500 company and now a consultant, I've witnessed the complexities faced by both diverse suppliers and buyers. Here are some key challenges and actionable recommendations: ### **Challenges:** 1. **Inconsistent Processes**: Varying internal practices across business units hinder standardization. 2. **Competing Interests**: Supplier diversity leaders navigate financial constraints while advocating for diverse suppliers. 3. **Access to Opportunities**: Diverse suppliers struggle to participate in bids, even with existing contracts. ### **Recommendations:** 🔹 **For Buyers**: - Proactively engage diverse suppliers. - Create mentorship programs for capacity building. 🔹 **For Suppliers**: - Build relationships and seek feedback. ### **Why Share?** I often hear from suppliers seeking insights on navigating this space. Sharing knowledge empowers diverse businesses to succeed, creating win-win outcomes for everyone involved. Let’s discuss how to foster a more inclusive future! Thoughts? 👇 #SupplierDiversity #SmallBusiness #Equity #Collaboration
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What is the most crucial element businesses and individuals often overlook for success? It's often said that the key to a top corporation's success is its people. Yet, the crucial role of #vendors is frequently overlooked. Many businesses and enterprising individuals excel in hiring top talent but fall short in selecting the right vendors. As a vendor, I'm dedicated to transforming businesses through #businessautomation and boosting the #digitalpresence of industry leaders. Let's connect, collaborate, and elevate your vision to new heights. Are you a business, a celebrity, or a vendor? What's your perspective here? Drop a comment and let's start a conversation! Make use of this platform to maximize your interests.
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A crucial aspect of supplier diversity is getting executive leadership on board with the business case and ROI. 🚀 Demonstrating the value of supplier diversity to executive leadership requires a strategic approach. Highlighting the positive impact on ROI, innovation, and brand reputation can be key persuaders. Emphasize the financial benefits such as: ✔ cost savings (due to competitive bidding among diverse suppliers) ✔ increased market share through diverse customer bases ✔ access to untapped markets, resulting in revenue growth Showcase how supplier diversity reduces supply chain risk by diversifying sources, which can mitigate disruptions and potential losses. It also fosters innovation by bringing in new ideas and perspectives from diverse suppliers, leading to product/service improvements and enhanced customer satisfaction. Additionally, supplier diversity aligns with: ✔ corporate values ✔ enhances corporate social responsibility (CSR) ✔ attracts top talent, contributing to a positive employer brand and employee retention. Executives need to understand that supplier diversity isn't just a checkbox but a strategic investment with tangible returns, including financial gains, reduced risk exposure, enhanced innovation, and improved corporate reputation. Let's work together to educate and inspire leadership about the significant business advantages of embracing supplier diversity. 💼 #SupplierDiversity #BusinessStrategy #ROI #ExecutiveLeadership #DiversityROI #StrategicPlanning #StrategicProcurement #ClosingTheEquityGap Have you successfully advocated for supplier diversity in your organization? Share your strategies and success stories in the comments below! 👇
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Core values are those non-negotiable behaviors that define a company's culture. When they are clear, there is a greater likelihood of alignment among employees, more consistent decision-making throughout the business, and less distraction in the current operations and future directions. In our C12 Business Forums, we've found that identifying and refining core values typically takes time. We have described a maturity model in which a company begins at Level 1 (no clear core values) and moves to Level 5 (core values consistently infused in all decisions). The model explains the level characteristics and next-step actions to move from Level 1 to Level 5. The key is to know where you are and what will move you forward. We have 24 forums around North Texas where we work on issues like this one. We encourage each other to improve our core values and succeed in business. Would you benefit from an excellence-oriented peer forum? Contact me for more information or read about us at https://lnkd.in/gGpybCAY. #c12forums #c12northtexas #christianCEOs
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Successful Evaluations: Insights from the Technology Supplier - Part 1: Building a Strong Foundation Active engagement from senior IT leadership on the client side is crucial to establishing an effective IT vendor evaluation program at the end of an engagement. When vendors are seen as partners rather than mere service providers, discussions about the relationship can take on a different perspective. The commitment of both parties to change their behaviors, management approaches, and contributions to the engagement’s success is essential. Without this shared mutuality of purpose, vendor feedback may be perceived as unconstructive, hindering the desired results. #PerformanceEvaluation #VendorEngagement #FeedbackMechanism #ClientVendorPartnership
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In our latest blog post we asked one of our regional directors, Mark Starnes, MBA about how he approaches building trust in employees. “I expect our associates to always do the right thing regarding our clients and our processes and I hold them accountable. Saying that I am also accountable to them. I must listen to my team members, ensure they know they are being heard, and give them constructive feedback. I approach leading/managing people from a Servant/Leader standpoint.” https://lnkd.in/esKTYn6s #employeetrust #bpo #outsourcing
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Few have it tougher than manufacturers when it comes to today’s persistent talent shortages. In fact, experts mapped out talent supply and demand and concluded that 2.1 million roles will be left unfilled by 2030. Next week @Justin King and I will be heading to the American Manufacturing Summit, and talent, rightfully so, is one of the key themes on the agenda. A few of the topics include: Getting creative to overcome the industry’s talent shortages Developing a pipeline of technical and diverse manufacturing talent Inspiring teams to push past traditional boundaries If you’re attending, come see us at booth #39 and join our roundtable discussion. DM me if you’d like to get on our schedule for a 1:1 meeting during next week’s event. #ManufacturingTalent #TalentAcquisition #RecruitingTrends
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