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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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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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Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

Technology-driven visibility AI and machine learning can be used to analyze large amounts of data quickly and accurately, providing insights that can improve forecasting, inventory management, and customer service. A supply chain control tower can connect many sources of data-driven information and improve end-to-end visibility.

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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 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

The following are examples of strategic sourcing use cases: Transparency and traceability From fast fashion to fluorite, consumers and stakeholders are keyed into product provenance—expecting brands to uphold ethical, responsible sourcing practices. And from that group, 71% would pay a premium for it.

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How to build a successful procurement strategy

IBM Supply Chain Blog

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. A balance of talent, technology, compliance, ethics and sustainability is needed to align procurement activities with corporate objectives. Be flexible.

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Zarrin Lilani on How Women Lead in Supply Chain

Let's Talk Supply Chain

Making this hard dichotomy shift isn’t just about good business ethics either. I was presenting the results to Senior leadership when I realized I understood so much about the end-to-end business. I knew the detailed nuances of end users in the supply chain and the big picture.