Message from the President
In 2012, the National Minority Supplier Development Council, Inc.® (NMSDC®) surpassed its 40th year of supporting the procurement needs of corporate America and helping minority businesses build capacity. This milestone marked an opportunity to celebrate our successes, and also to look ahead and position the organization for a successful future.
In developing our five-year strategy, NMSDC engaged stakeholders from across the organization: minority business enterprises (MBEs), corporate members, and staff at NMSDC's national office and regional affiliates. Through open dialogue about our future, we assessed what we do well, how we might improve our operations, and how best to meet the existing and emerging needs of our stakeholders to remain the leader in minority business development.
Our vision for the future is: To be the leader in advancing minority suppliers to help corporations meet global needs. We will achieve this vision through demonstrated excellence in four core capabilities:
- Certify - Certification continues to be at the core of what we do--ensuring that minority businesses are bona fide.
- Develop - We continue to develop not only our certified MBEs to promote business growth, but also our corporate members and NMSDC network staff, through new delivery channels and expanded learning offerings.
- Connect - NMSDC connects corporate members with certified MBEs that meet their complex needs through a focus on innovative tools and approaches.
- Advocate - Leveraging our global presence, NMSDC promotes the value and innovation that minority suppliers provide to corporate supply chains.
NMSDC's value proposition remains strong. Our corporate members enjoy the benefits of innovative suppliers and unlock new markets for their products. Our certified MBEs embrace the power of NMSDC's certification to access opportunities. Our communities recognize the impact that minority businesses contribute through job creation and economic development. Our economy depends upon increasing spend with minority suppliers to stay competitive.
With Advancing Sustainable Minority Businesses for a Global Supply Chain: A Growth Strategy as our guide, NMSDC continues a proud tradition of delivering tangible and lasting benefits to our stakeholders and demonstrating the power of minority businesses. We invite you to join us on our journey into the next 40 years!
Promoting economic development in America's cities, creating lasting business relationships between corporate America and minority businesses, and building wealth in minority communities are all results of the work of the National Minority Supplier Development Council, Inc.® (NMSDC®). For more than four decades, NMSDC has demonstrated a commitment to meeting the procurement needs of Fortune 500 companies, universities, hospitals and government organizations. NMSDC has developed Asian, Black, Hispanic and Native American businesses to build scale and capabilities and as a result, minority business is no longer synonymous with small business.
Minority businesses make up a significant and growing portion of America's economy, offering unique value to corporations and enhancing supply chains on a global scale. Approximately six million minority-owned businesses in the U.S. generate more than $1 trillion in gross receipts annually. In the five years between 2002 and 2007, minority business growth rates exceeded those of other firms. However, the economic challenges in recent years have served to highlight the progress yet to be made. Minority communities experienced the largest decline in wealth during the recession, and wealth gaps have risen to record highs. Likewise, corporate procurement requirements are changing, and businesses are looking to unlock new sources of value. There is still work to do.
As NMSDC looks to the future, its blueprint for advancing sustainable minority businesses in a global supply chain will be achieved through NMSDC's core capabilities:
- Certify minority businesses and promote the value of certification
- Develop stakeholders and build capacity and capabilities
- Connect certified minority business entrepreneurs with NMSDC corporate members
- Advocate for minority businesses and promote the value proposition of minority supplier development
Excellence in these capabilities is demonstrated every day across the NMSDC national network, comprising the national office and regional affiliates, where programs and services are designed, developed and delivered to members and MBEs.
This strategy is the blueprint for NMSDC's transformation, and the organization is poised to deliver unmatched value to its stakeholders and, in doing so, to global supply chains.
Joset B. Wright-Lacy
National Minority Supplier Development Council, Inc.®