According to a 2012 survey from CAPS Research, nearly 72 percent of
organizations expect their total supplier diversity program spend to
increase by 2014.1 To better position minority and women
business enterprises (MWBEs) to capitalize on this growth, Cintas
Corporation (NASDAQ: CTAS), today shared its top five strategies for
supplier diversity success.
“Whether it’s a Fortune 500 company or a smaller organization, effective
corporate supplier diversity programs like Cintas’ focus on providing
current and potential suppliers with tools for success,” said Pamela
Brailsford, senior director of supplier diversity and sustainability.
“Suppliers should seek out organizations that enable them to learn new
ways to better their businesses.”
1. Seek out award-winning organizations: Although awards
aren’t the end-all-be-all, they identify organizations with a real
commitment to working with and developing diverse suppliers. These are
bestowed by both national and local organizations, often on an annual
basis.
2. Attend effective business development courses:
Organizations that truly care about supplier diversity often offer
training classes for suppliers. These allow suppliers to learn critical
strategies that encourage a competitive business advantage. After
attending a training workshop, suppliers should be better able to
promote their business.
3. Network: Networking with sourcing and diversity leaders
at tradeshows or local events allows suppliers to build relationships
with people who make decisions in regards to supplier selection.
Additionally, it allows suppliers to get advice and feedback on ways to
improve their selling strategy.
4. Identify mentors early on: Suppliers should find at
least one mentor, and preferably more, who can serve as coaches to
employees and executives. Organizations with best-in-class supplier
diversity programs may have formal mentoring programs in place to pair
passionate leaders with minority and women-owned businesses (MWBEs) to
consult them on their business strategies.
5. Define your differentiators: Corporations today want
and need suppliers that produce a quality product or provide a quality
service at a reduced cost. Additionally, they want a supplier base that
reflects their customers. Identify which factors set your organization
apart from the competition and highlight them whenever possible.
“Cintas’ corporate-wide supplier diversity initiatives encourage the
inclusion of MWBEs whenever possible and provide training courses and
mentoring to promote long-term success for suppliers,” added Brailsford.
“We’re proud to say that our efforts for helping suppliers develop
best-in-class operations haven’t gone unnoticed. We recently accepted
the 2013 MBE Empowerment Award for supporting MBE education and
training opportunities from the South Central Ohio Minority Supplier
Development Council (SCOMSDC).”
Presented by Darryl Peal, CEO of SCOMSDC, the award recognizes
businesses that demonstrate an exceptional commitment to facilitating
development for minority and woman-owned businesses within the
community. SCOMSDC has previously recognized Cintas with its Trailblazer
Award and its Class II “Corporation of the Year” Award.
For more information on Cintas, please visit www.cintas.com.
About Cintas Corporation:
Headquartered in Cincinnati, Cintas Corporation provides highly
specialized services to businesses of all types primarily throughout
North America. Cintas designs, manufactures and implements corporate
identity uniform programs, and provides entrance mats, restroom cleaning
and supplies, tile and carpet cleaning, promotional products, first aid,
safety, fire protection products and services and document management
services for more than 1 million businesses. Cintas is a publicly held
company traded over the Nasdaq Global Select Market under the symbol
CTAS and is a component of the Standard & Poor’s 500 Index.
1http://www.sdcexec.com/article/10734402/the-drive-to-increased-supplier-diversity
Copyright Business Wire 2013