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Procurement’s Role in Building Social License

Una

To overcome this, procurement can: Quantify the long-term value of stronger community ties and brand reputation Benchmark against competitors to show the market rate for ethical/local sourcing Negotiate with preferred suppliers to keep costs competitive Explore creative financing options like social impact bonds.

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5 New Year’s Resolutions for Procurement

Una

Make yourself available to guide suppliers through your requirements and answer any questions. Look for contract hurdles that exclude small, diverse suppliers. Look for ways to help increase diverse supplierscapacity so you can work with them more.