Benchmarking PLUS+ for Corporations
of the Year
Using Best Practices
Iron sharpening Iron Process
Implementing supplier diversity processes at major corporations is no easy task-- but it need not be done alone. There are many resources available to help you enhance your corporation's supplier diversity initiative. Some of these resources are best provided with dialog about use case scenarios, others can be practiced with simulations. Benchmarking PLUS+ will help you:
– Enhance your organization’s ability to collect an manage diversity spend data
– Increase your organizational focus, accountability and transparency
– Systematically discover supplier diversity best practices and their functions, features, and benefits
– Become an expert in implementing business development best practices in a controlled and supportive environment
– Automate the development of a corporate supplier diversity plan
Profile Development Stage
Each PLUS participant will develop a profile on their corporation that describes their procurement processes and supplier diversity initiative. The profile enables diverse supplier to strengthen their sales and marketing strategies based on data. The corporate profile development exercises help the supplier diversity professional better understand their corporations' procurement and identifies challenges to be addressed from the supplier's perspective.
During the Assessment Stage, each PLUS participant will participate in a best practices assessment that will quantity strengths and weaknesses of the supplier diversity program at their corporation. This stage defines the components of supplier diversity best practices and graphically identifies opportunities for continuous improvement.
As Is Analysis Stage
The Assessment Stage data is compared to cohort data of other corporations. The As Is Analysis considers the characteristics of supplier diversity program maturity and helps participants weigh options for process changes. This stage also helps the supplier diversity professional prioritize actions that will enhance their initiative and strengthen their expertise.
Implementation Plan Stage
Based on the supplier diversity data from the cohort of corporations and the As Is Analysis Stage, participants will be guided through best practices recommendations from the Billion Dollar Roundtable and the National Minority Supplier Development Council. Participants will develop a supplier diversity implementation plan that pays particular attention to process changes that can reasonably accomplished in the near term.
Enhancement Actions Stage
In this stage, a model that aligns supplier diversity best practices with actions of key stakeholders will be introduced. Actions around executive alignment, outreach capability matching, supplier development, and compliance reporting wil be implemented.