Minority supplier conference will aid growing businesses (with related video)

The National Minority Supplier Development Council (NMSDC) will host its annual Conference and Business Opportunity Fair at the Colorado Convention Center in Denver, October 28-31. The four-day event is viewed as the nation’s benchmark forum on minority supplier development. It will highlight successful supplier relationships between NMSDC corporate members and minority business enterprises (MBEs), as well as strong MBE-to-MBE partnerships.

More than 7,000 attendees are expected to take part in the event, including Asian, Black, Hispanic and Native American business owners, as well as Fortune 500 chief executive officers, corporate and government minority supplier development professionals, purchasing executives and decision-makers, and representatives from international NMSDC counterpart organizations. The Rocky Mountain Minority Supplier Development Council, one of NMSDC’s 36 regional councils, will co-host the conference.

“Minority Businesses and Corporate America: Advancing Minority Suppliers in the Global Supply Chain” is the theme for this year’s conference. The event schedule begins on Monday, Oct. 29, with a one-day Business Opportunity Fair—a national procurement event. The fair will feature more than 750 corporate and minority business exhibit booths. A Leadership Development Series with concurrent sessions for minority business owners, buying organizations/supplier diversity professionals and NMSDC regional council presidents will be held on Tuesday, October 30. Twenty workshops and plenary sessions highlight the conference schedule for Tuesday and Wednesday, Oct. 30-31. Chief executive officers from U.S. corporations and minority businesses, corporate procurement professionals, subject matter experts on minority supplier development and government officials will lead the workshops and sessions.

Several workshops on Wednesday, Oct. 31, will educate vendors on public sector contracting and related topics, including:

Government: Opportunities for Minority Suppliers
This session will focus on policies and practices federal, state and municipal governments are using to encourage minority business participation in the public sector. Experts will identify new directions and initiatives for including MBEs in the plan.

Demystifying the Request for Proposal (RFP) Process
RFP/RFI/RFQ/eRFX—what do these terms mean? Which ones are worth the effort? What research and resources are necessary? How do buyers and organizations rate proposals, and what are the disqualification factors? This session will provide minority business owners with strategies, checklists and other information to increase the odds of winning business.

Measuring the Impact and Return on Investment (ROI) of Supplier Diversity Initiatives
For governments and other organizations, it is critical to focus on metrics and show the value of supplier diversity. In this workshop, attendees will learn how to measure and quantify cost savings and cost reduction, as well as the impact on sales/new markets.

There are a total of 10 workshop offerings on Wednesday, Oct. 31.

The conference culminates on Wednesday evening with an Awards Banquet to honor the Corporation of the Year, Suppliers of the Year, Minority Supplier Development Leader of the Year and NMSDC Council of the Year.

Attendees will have an opportunity at the conference to add to their credentials files. Supplier diversity and supply management professionals can take the Institute for Supply Management (ISM) exam for its professional designation—Certified Professional in Supplier Diversity (CPSD)—in Denver on Thursday, November 1. NMSDC worked with ISM to develop the curriculum for the designation and has arranged for members of either organization to take the exam.

“Minority businesses are key drivers of economic growth in the United States,” said NMSDC President Joset B. Wright. “This event will allow us to provide a blueprint for MBEs looking to replicate their domestic success on a global scale. Denver—with its vibrant business community—will provide a dynamic backdrop for networking and relationship-building between our corporate members and minority suppliers from Colorado and across the country.”

Online registration for the 2012 NMSDC Conference and Business Opportunity Fair is available through Friday, October 5, at this site. For information on the event or minority business development, call the NMSDC at (212) 944-2430 or visit its web site.

View interviews here of attendees at the 2011 NMSDC Fair.