MBN USA

October 25, 2023

UnFollow View Profile Send Message Copy Link

UnFollow View Profile Send Message Copy Link

Building relationships with MBEs is key to their success

By Guest Writer Reuben Essandoh, director, supplier diversity, Capital One Financial Corp.

The winning of a contract by a diverse-owned business should not end the relationship between the supplier diversity team and that business. Where a diverse supplier is successful and wins a contract with a corporation, it is essential that the supplier diversity team keep close proximity and offer support to help the diverse supplier learn to effectively navigate the company’s procurement processes and delivery expectations. 

Checking in on the performance of the diverse suppliers and providing regular feedback will enable the diverse supplier to be aware of its performance, while continuing to do what they are doing well and address any shortfalls

Where challenges exist, you do no favor to the diverse supplier if you do not share such feedback.

Finally, corporate supplier diversity programs can support diverse-owned businesses by helping connect them to internal business customers. Diverse businesses do not have the machinations and networks that other larger suppliers have — a gap that makes it difficult to network and win new business after being onboarded.

Supplier diversity professionals can help bridge this gap, cure this deficiency and serve as a conduit by introducing diverse-owned businesses to decision-makers in their line of business.

To learn more about Capital One’s supplier diversity program, visit capitalone.com/about/corporate-information/information-about-our-supplier-diversity-program.