Kate Lewis’ Post

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Vice President/Owner @ Semper Fi Recruiting & Staffing | Business Development

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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