This Diversity Supplier Program Overview from CVS Caremark aka CVS Pharmacy … is an explanation of how CVS does business with firms that is approaching the corporation as a member from a diverse group – see “diversity ” explanations below.
Excerpt: in order to qualify for our (the CVS Caremark) Supplier Diversity Program, the supplier must meet the definition of a Minority Owned, Woman Owned, Veteran or Disabled Veteran Owned, Disadvantaged Owned, LGBT Owned, HUBZone Owned, 8(a) Owned Business Enterprise and Small Business Enterprise or be certified by authorizing bodies such as the National Minority Supplier Development Council, Women’s Business Enterprise National Council, Small Business Association or by a recognized government agency.
As part of this program, we also have a Diverse Retail Pharmacy Initiative that encourages diverse-owned, independent retail pharmacies to become part of our network.
In 2012, we spent more than $140 million within the diverse supply chain and we will continue to include diverse suppliers in future procurement and sourcing opportunities.
Our Supplier Diversity Program consists of two tiers. While Tier I focuses on monitoring our purchases to ensure we have diverse suppliers providing quality goods and services, Tier II takes the program to a new level by monitoring our large valued suppliers to ensure that diverse suppliers are included in their own supply chain.
This two-tiered program further demonstrates that CVS Caremark is not only committed to the use of direct suppliers in our own organization, but also to doing business with suppliers who are committed to diversity in their own supply chains.
The Tier II program continued to grow and evolve in 2012. In fact, participation in Tier II grew by 50 percent, thanks in part to our partnerships with current merchandising suppliers and our ongoing outreach to diverse suppliers. One minority supplier outreach effort that worked very well for us in 2012 was a Construction Business Building event held in Atlanta.
The half-day event offered diverse suppliers the chance to meet with CVS Caremark purchasing representatives, allowing them to make valuable connections and learn about potential business ……..
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