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Sustainability in Procurement: Strategies and Challenges

ivalua

Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.

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See Through Disruptions: How Supply Chain Visibility Builds Resilience

SCMDOJO

Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. The powerful concept of Supply Chain Visibility lies at the core of resilience. Supply Chain Visibility refers to tracking and monitoring the movement of goods, services, and information throughout the supply chain.

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Source-to-Pay Digital Transformation: Roadmap for Efficiency and Resilience

Jaggaer

Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. These begin with enhanced visibility. Organizations can ensure ethical sourcing while reducing compliance risks.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities. These tools allow for automated, integration to suppliers and visibility in procurement data at any time.

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4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

In response to increasing expectations from customers and stakeholders alike, some businesses are leveraging the transparency and immutable record of blockchain to uphold their ethical and sustainable sourcing practices. Try out cognitive intelligence free for 30-days. How is sourcing strategy different than procurement strategy?

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How AI and Automation are Transforming Manufacturing Supply Chains

Jaggaer

Effective supplier management ensures quality control, risk mitigation, and compliance with sustainability and ethical sourcing standards. It ensures compliance with emission standards, ethical labor practices, and circular economy initiatives. Tools used here include supplier scorecards, audits, and performance tracking.

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Supplier Collaboration: Fundamental to Elevating Manufacturing Performance

Jaggaer

Value chain : Transparency in operations and across multiple supplier tiers gives you visibility into potential gaps in supply continuity. Some of the risks in this industry include volatility in commodity markets, geopolitical unrest, the need to adhere to ethical standards, and reputational damage.