Sustainability Practices Assessment
Transforming businesses and procurement practices with a focus on the triple bottom line value generation: financial, environmental and social.
Organizations are led by leaders who are often driven by values, ethics, morals, and a profound awareness of the impact their actions have on the communities and societies they live and work in. Organizations are also comprised of shareholders who often share the same values as the leaders and care about the impact and legacy their investments have; among other things, they care about the future, quality of life, and longevity.
The increased awareness of the impact that leaders have at an individual and organization level, along with the awareness and expectations shareholders have about generating profits while ensuring this is done in accordance with their systems of belief, has led to the rise of Sustainable Procurement. Sustainable Procurement is concerned with generating value by minimizing environmental and social risks, and can involve transforming businesses and procurement practices with a focus on the triple bottom line: financial, environmental, and social value.
As leading organizations have committed to sustainability standards in sourcing and engaging with suppliers who provide environmentally friendly products and services, we are aligning our services to support the research needs in this area. We also actively track regulatory environments and trends to help our clients’ category managers develop a better understanding of the changing landscape. Some of the areas we cover include the assessment and recommendation of possible initiatives and their resulting impact, benchmarking against sustainability practices followed by peers, identification and tracking of suppliers that comply with environmental and sustainability requirements, and tracking of the latest innovations by suppliers. Considering the rising demand for and importance of environmental and sustainability practices, we are keen to continuously developing our strengths and offerings specific to this area for the next couple of years.
Our sustainability services include the following:
- Define sustainability criteria
- Define product or service categories to transition to sustainable sources
- Sustainable supplier identification
- Assessment of supplier profile and capabilities
- Sustainability best practices
- Sustainability supplier gap
- Supplier-buyer coordinated plan for bridging the gap
- Selection of alternative sustainable suppliers
Interested in learning more about SpendEdge’s work on Sustainability Assessment services for specific sectors of the industry, or discuss ways SpendEdge can help you achieve your procurement sustainability goals? Let’s talk.
Articles and Insights
Supply Chain Sustainability: Key Approaches to Achieve Continuous Improvement
Top Suppliers of Sustainable Materials: Supply Market Intelligence
Top 3 Factors Influencing the Growth of a Sustainable Solid Waste Management System
How Sustainable Procurement Practices Will Improve Your Reputation
Supply Market Analysis
Enabling companies to achieve procurement maturity, enhanced savings and reduced risks through supply market intelligence.