Corporate supplier diversity leaders tell you how to close the deal.
 

Sheri A. Shafir

Associate Director, Supplier Diversity

Veteran suppliers should understand their value proposition. What makes their company special, unique, different and better than their competition? What do you do in a nutshell? Do they provide better service and quality?  Do they streamline a process, save time, save money? Can this benefit be quantified? State the value proposition right away, along with current clients (ideally from similar industries) they are successful with. From a priority perspective, suppliers should state the benefit/value proposition and current clients they are successfully working with before stating their diversity status.

In addition, it’s important to understand the company and the industry the veteran business is targeting. Research the targeted company – know their location, the key products they sell, any regulatory requirements, etc. Try to understand the overall business requirements of that industry before making the call, e-mail, or face-to-face meeting. If you don’t understand the corporation, how would you understand the same corporation’s business needs?

Janet Stone

Sr. Manager, Supplier Diversity

Be prepared. Do your homework. Although this advice is frequently given, what does it mean? Our expectation is that you know what product/services we provide and our customer base prior to your coming in to visit. Are we a commercial or government business? Are we domestic to the U.S., global or a branch of a foreign entity? Is there another division that might purchase your product/services? The answer to these questions may determine whether you want to do business with us prior to contacting us. It is always good to network – by doing a little homework you can decide which companies fit with your core competencies and hopefully increase your chance of success.  

DOES CORPORATE AMERICA “BUY VETERAN?”

EVERY DAY, CORPORATE AMERICA spends billions of dollars with suppliers to maintain operations and keep revenue flowing. Many of the dollars changing hands are spent with vetrepreneurs. But how many?

 To support one of NaVOBA’s primary missions – to encourage corporate America to utilize veteran-owned businesses

in its supplier diversity programs – NaVOBA is analyzing FORTUNE 1000® firms to determine if they “Buy Veteran.” Using publicly available information, NaVOBA has devised a tracking mechanism to assess what efforts corporate America has made to “Buy Veteran.” This analysis, published in every issue since October 2007, looks only at large businesses that have a supplier diversity statement. This issue we examine the FORTUNE 1000®’s 1-28.

 Take a look at the companies listed in the chart. Do you see some familiar names? You should. Now look at their facts and figures. Have they included veterans in their supplier diversity goals?  Do they have a successful track record in contracting with VOBs? Do they openly encourage and seek new businesses in their procurement efforts? If so, then maybe they have earned your respect and dollars as a customer. If not, maybe it’s time to take your business elsewhere and begin to purchase your goods and services with a vet-friendly company that is more in tune with the honorable traits and values demonstrated by vetrepreneurs, other veterans and their families.

For a complete look at the research, visit www.navoba.com/f1000.

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