Spring 2022 Newsletter
For more than 4.5 years, Diverse Supplier Development Corporation (a 100% veteran owned and operated business) and in a strategic partnership with DeltaPoint Partners has had the mission to create new business for SD/VOBs and other diverse owned businesses (SD/VOB-DBEs) with the Fortune 5,000 corporations and beyond.
Part of this mission is to educate and update you on some news and new opportunities for your business in the private sector supplier diversity world to encourage you to consider Pivoting to the Private Sector for Procurement Opportunities!
Downstream & Upstream Procurement Opportunities
Since 2018, we have been proactively soliciting corporations for “downstream” procurement opportunities to help them find new SD/VOB-DBE suppliers. Since then, we have been provided with more than 754 such opportunities with approximately 45+ different corporations, including the likes of:
- Best Buy
- Capital One (60+)
- Ernst & Young
- NFL Super Bowls
- UnitedHealth Group
In 2021, we received 255 such downstream opportunities. For these opportunities, we have reached out to thousands of SD/VOB-DBEs and made connections for many of those that were a potential fit for these opportunities.
To automatically be notified of any of these future downstream opportunities,
please register for our Free Opportunity Alerts at the following link: https://dsdcpro.com/alerts/
Upstream Successes – Many SD/VOB-DBEs have retained DSDC and DeltaPoint Partners to create and implement a proactive, strategic, and tactical marketing plan to develop new business opportunities for them with the Fortune 5,000 corporations and beyond. In the past year, we have introduced our clients to a host of corporations to begin developing a relationship with them for new business opportunities.
If you are interested in learning more about these Upstream Successes, please contact us. Vetted Bench of SD/VOB-DBEs
Since the advent of Covid-19 and the renewed efforts by corporations to support social justice causes, we have seen an increased interest in new SD/VOB-DBEs. We have also seen the need to make sure that in today’s mid-Covid times that these new SD/VOB-DBEs are solid, profitable, sustainable, and scalable and thus ready, willing, and able to work with these corporations.
These circumstances have led us to create our Vetted Bench of SD/VOB-DBEs that are not only diverse and certified but vetted for their readiness and financial stability to meet the increased needs of corporations and reduce their risk for trying new to them SD/VOB-DBEs.
To support the Vetted Bench, we have created the Vetted Bench Program to provide SD/VOB-DBEs with a comprehensive financial, scope and scale assessment and assist them with rebranding in a new way in a new market.
If you would like to learn more about our Vetted Bench Program, please register at the following link: https://dsdcpro.com/vetted-bench-program/
Veteran to Veteran Initiative (V2V)
Another part of our mission involves doing a much better job of bringing SD/VOBs together for strategic partnership/teaming arrangements and/or to be customers and/or vendors/suppliers to each other. Because of the baseline of trust and our mutual interest in helping our fellow brother and sister SD/VOBs, we proactively seek opportunities to work together.
If you are interested in being included in this Veteran-to-Veteran initiative, please
Sign Up for Veterans Doing Business with Veterans Program at the following link:
Veteran Friendly Corporations
There are now 186 corporations considered in 2021 by US Veterans Magazine to have veteran-friendly supplier diversity departments. Since 2016, their list has increased 365%.
The private sector non-profit certifying body for SD/VOBs (the National Veteran Business Development Council – NVBDC) has continued to add new corporate sponsors and now has 136 large and well-known corporations!
For the most up to date list of these corporations, go to the following link: ???? Mark?
- SBA and Congress Reach Out to Veteran Entrepreneurs
The U.S. Small Business Administration (SBA) and Congress recently held a virtual meeting with veterans to learn about the barriers to starting a business. David Levesque said his biggest challenge in starting his business was securing capital. He is a veteran and owner of Colorado-based Launch Pad Brewery. If Congress could find a way to help obtain initial funding, more veteran-owned businesses could thrive, Levesque said. He added that veterans are well equipped to become successful entrepreneurs because the military teaches them everything from purchasing to supplying to training.
- Pacific Gas and Electric Spends $4B With Diverse Suppliers in 2021
(PG&E) 2021 Supplier Diversity Annual Report showed that it surpassed the $4 billion mark for the first time. The energy company spent $4.01 billion with more than 630 diverse suppliers, up from $3.88 billion in 2020. It was the 16th consecutive year PG&E exceeded the California Public Utilities Commission’s diverse supplier goal, and the 10th straight year it spent more than $2 billion with diverse suppliers.
- Supplier Diversity Programs Save Money and Create New Opportunities
According to Supplier Gateway, Diverse and small businesses are often more price competitive than their large, non-diverse counterparts, so including them in your supply chain encourages competition and drives down costs.
According to this study, even when procurement teams had even slightly higher supplier diversity adoption rates, they managed to generate around 133% better returns on the cost of procurement, which created an extra $3.6 million for their organization’s bottom line.
Another study shows that organizations that adopt supplier diversity programs are more likely to penetrate into new markets and find new customers and clients.
- The Lack of Diversity is Costing American Companies Trillions of Dollars
Bank of America (BofA) Global Research recently published a report that shows that American companies’ lack of diversity comes with a hefty price tag. That could be $70 trillion in lost economic output, a $23 trillion reduction in U.S. GDP or $172 trillion in lifetime financial earnings.
- Google To Spend $2.5B With Diverse Suppliers This Year
In a company blog, Google’s Chief Procurement Officer Jennifer Moceri wrote that they would expand its supplier diversity program beyond the U.S. and spend $2.5 billion with diverse suppliers in 2022. The tech giant decided to increase its diverse spending goal after exceeding last year’s $1 billion goals by $500 million.
- SDG&E Spends Record $936M with Diverse Suppliers in 2021
San Diego Gas & Electric (SDG&E) spent a total of $2.4 billion on goods and services in 2021. That is the highest level in its 140-year history. About 39.1% of its expenditure went to small and diverse suppliers, which surpassed the California Public Utilities Commission’s 21.5% goal.
- WarnerMedia Celebrates the 20th Anniversary of its Supplier Diversity Program
WarnerMedia has spent more than $8 billion with diverse suppliers since it created its Supplier Diversity Program in 2002
Should you have any questions or are interested in a no-cost/obligation initial consultation to determine if now is the Right Time to Pivot your Business to the Private Sector for Supplier Diversity Procurement Opportunities, please contact us.
FOR MORE INFORMATION, PLEASE CONTACT
Paul F. Mara