Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Sustainability Practices Assessment
Transform your organization towards a sustainable supply chain management with the help of SpendEdge’s sustainability practices assessment.
Organizations are led by leaders who are often driven by values, ethics, morals, and a profound awareness of the impact of sustainable supply chain management 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 supply chain management 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 practices in sourcing and engaging with suppliers who provide environmentally friendly products and services, we are aligning our services to support the research needs for a sustainable supply chain management. 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 sustainability practices 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 a sustainable supply chain management
- 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