A Three-step Solution for Supplier Diversity

Duke Realty uses CVM's Cloud-based solution to help identify and manage diverse supplier network


Duke Realty recently launched a strategic initiative based on CVM Supplier Central to manage its 5,400 suppliers by enabling a supplier registration self-service, facilitating the identification and prequalification of suppliers, and automating its ongoing supplier information maintenance process. CVM Supplier Locator helps Duke Realty identify potential new vendors. This element is in the measure and mitigate portion of the product.

"Using CVM Supplier Locator, we identify suppliers we don't have in our system with a needed trade'," says Duke Realty's Minnis. "They have 11 million diversified suppliers across the country. Depending on the community, we can find [one we need] because the platform is connected to every major certified organization in the country.

"This is an evolving process," she adds. "We want to get all our associates involved with using the system, understanding its features and how it works. There was no difficulty getting associates up to speed on the benefits of the system. Once people realize those benefits, it becomes second nature. Some use it more than others, but it's being used. The payback for us is on the projects we have been awarded."

One-source Managing

Effectively managing suppliers is, of course, a key element of business. By moving to a single source, a more accurate picture of supplier activity is gained, duplicate and out-of-date records are eliminated, and supplier relationships are easier to discern.

Getting back to diversity, companies need a proactive program to identify minority and women-owned suppliers that supports their diversity goals. Other major supplier management benefits include the identification of savings or new revenue opportunities through the improvement in working capital by leveraging linkages in the existing supply base to manage same suppliers' payment terms, and increased community involvement and competitiveness from minority- and women-owned businesses.

"This system is allowing us to get to know diverse suppliers in the communities we serve," Minnis says. "Depending on the community, we can find out because the platform is connected to every major certified organization in the country."

She says it's necessary for companies who want to ensure a diverse work force to know exactly what they're looking for. "If they're looking to get a feel for the existing supply chain and who's diverse or not diverse, there is a tool for that," Minnis says. "If they're looking to manage suppliers and new vendors inclusively, there's a tool for that, and if they're looking for a way to identify potential vendors, there's a tool for that. You can identify who they currently do business with and manage new suppliers."

Bookmark and Share

Related Links

Related Stories

  • Enhance Your Experience.

    When you register for SDCExec.com you stay connected to the pulse of the industry by signing up for topic-based e-newsletters and information. Registering also allows you to quickly comment on content and request more infomation.

Already have an account? Click here to Log in.

Enhance Your Experience.

When you register for SDCExec.com you stay connected to the pulse of the industry by signing up for topic-based e-newsletters and information. Registering also allows you to quickly comment on content and request more infomation.

OR

Complete the registration form.

Required
Required
Required
Required
Required
Required
Required
Required
Required
Required
Required