Using great tools like solution maps to choose the right solution provider is equivalent to trying to count the stars in our universe and reliably distinguishing one from another. Like stargazing, you see an impressive array of potential partners but are overwhelmed by the brightness of their collective recognition. Or, as many CPOs have told me, they suffer from “solution map migraine.”
I have said it many times, but gone are the days of no one ever getting fired for buying IBM. In short, almost every solution provider’s technology is solid and reliable. So, how do you determine which providers are the best or most appropriate to form a relationship with?
Look for a connection or a point of common understanding.
Consider ESG Compliance
Question: How many solution providers discuss the importance of supply chain visibility and ESG compliance? That’s right, like counting the stars.
What do I do when receiving calls from providers wanting to discuss, demonstrate, and promote their ESG reporting capabilities? I look beyond the technology – which will always be reliable, for points of common interest and understanding regarding ESG. I also look at how long they have been “in the ESG business” – I will delve more into this latter point shortly.
To start, I continuously research the subject matter to ensure that I have as broad and diverse an understanding as possible beyond what I already know. For example, The World Bank article “Small and Medium Enterprises in Emerging Economies: The Achilles’ Heel of Corporate ESG Responsibility Practices” provided some additional essential insights that are useful to know.
I also refer to my Procurement Insights blog archives for my interviews and analyses over the past three decades.
Of the many papers and articles I have written on ESG, one that continues to stand out to this day is a December 2019 Procurement Foundry post titled “Sorry, Charlie, there is something wrong with the world’s seafood supply chain.”
Given the implications of product mislabelling—a significant financial concern—the life-and-death consequences continue to resonate with me. It is worthwhile to take a few minutes to read the entire article.
With a focus on seafood, I wanted to see which provider is strong in this area from a knowledge standpoint and how many years they have been in business. That is the starting point for me because it represents market sector understanding beyond the technology they offer. In short, it is not a features-functions-benefit exercise but one of market intelligence.
A Strong Achilles
The Achilles is the “strongest tendon in the body and allows people to push off while walking, running, and jumping.” – HSS
In my research, I came across the name of a company with whom I wasn’t familiar. The company has been around for more than 30 years – my bad.
Of course, and to be fair, I did not see the company mentioned on any of the solution provider maps I have received. Yet here is a provider who understands multiple industries – including the seafood industry, and has the experience and expertise to navigate the rough waters of ESG compliance.
I will look forward to following Achilles more closely from now on.
In the meantime, today’s article teaches us to “look beyond the stars” (and technology) when assessing a provider’s solution.
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Procurement Insights
What Is Your ESG “Achilles” Heel?
Posted on March 19, 2024
0
Using great tools like solution maps to choose the right solution provider is equivalent to trying to count the stars in our universe and reliably distinguishing one from another. Like stargazing, you see an impressive array of potential partners but are overwhelmed by the brightness of their collective recognition. Or, as many CPOs have told me, they suffer from “solution map migraine.”
I have said it many times, but gone are the days of no one ever getting fired for buying IBM. In short, almost every solution provider’s technology is solid and reliable. So, how do you determine which providers are the best or most appropriate to form a relationship with?
Look for a connection or a point of common understanding.
Consider ESG Compliance
Question: How many solution providers discuss the importance of supply chain visibility and ESG compliance? That’s right, like counting the stars.
What do I do when receiving calls from providers wanting to discuss, demonstrate, and promote their ESG reporting capabilities? I look beyond the technology – which will always be reliable, for points of common interest and understanding regarding ESG. I also look at how long they have been “in the ESG business” – I will delve more into this latter point shortly.
To start, I continuously research the subject matter to ensure that I have as broad and diverse an understanding as possible beyond what I already know. For example, The World Bank article “Small and Medium Enterprises in Emerging Economies: The Achilles’ Heel of Corporate ESG Responsibility Practices” provided some additional essential insights that are useful to know.
I also refer to my Procurement Insights blog archives for my interviews and analyses over the past three decades.
Of the many papers and articles I have written on ESG, one that continues to stand out to this day is a December 2019 Procurement Foundry post titled “Sorry, Charlie, there is something wrong with the world’s seafood supply chain.”
Given the implications of product mislabelling—a significant financial concern—the life-and-death consequences continue to resonate with me. It is worthwhile to take a few minutes to read the entire article.
With a focus on seafood, I wanted to see which provider is strong in this area from a knowledge standpoint and how many years they have been in business. That is the starting point for me because it represents market sector understanding beyond the technology they offer. In short, it is not a features-functions-benefit exercise but one of market intelligence.
A Strong Achilles
The Achilles is the “strongest tendon in the body and allows people to push off while walking, running, and jumping.” – HSS
In my research, I came across the name of a company with whom I wasn’t familiar. The company has been around for more than 30 years – my bad.
Of course, and to be fair, I did not see the company mentioned on any of the solution provider maps I have received. Yet here is a provider who understands multiple industries – including the seafood industry, and has the experience and expertise to navigate the rough waters of ESG compliance.
I will look forward to following Achilles more closely from now on.
In the meantime, today’s article teaches us to “look beyond the stars” (and technology) when assessing a provider’s solution.
30
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