Future of Sourcing - Sustainable Sourcing https://www.futureofsourcing.com/tags/sustainable-sourcing en Compliance Does Not Equal Resilience https://www.futureofsourcing.com/compliance-does-not-equal-resilience <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Compliance%20Does%20Not%20Equal%20Resilience.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Compliance%20Does%20Not%20Equal%20Resilience.png" title="Sustainability Strategies to Rethink and Rebuild the Supply Chain for Enduring Risk Mitigation" class="colorbox" rel="gallery-node-1992-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Compliance%20Does%20Not%20Equal%20Resilience.png?itok=clWswRw0" width="624" height="325" alt="Sustainability Strategies to Rethink and Rebuild the Supply Chain for Enduring Risk Mitigation" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <h1>Sustainability Strategies to Rethink and Rebuild the Supply Chain for Enduring Risk Mitigation</h1> </div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/the-growing-business-criticality-of-a-sustainable-supply-chain">The Growing Business Criticality of a Sustainable Supply Chain</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Procurement organizations know that sustainability initiatives have far-reaching impacts on risk-management, cost and innovation. This is why most procurement teams historically invest in supplier compliance according to environment, social and governance (ESG) and sustainability risk-related issues.</p> <p>But in a year where entire health systems and economies were disrupted due to supply chain failures, procurement teams need to move beyond a compliance-only mindset &ndash; where they only tick off the boxes of regulatory compliance &ndash; and strategically rethink how to approach, value, build and optimize supply chains.</p> <p>CEOs are awakening to this urgency, with the latest sign of action coming from <a href="https://www.wbcsd.org/Overview/About-us/Vision-2050" target="_blank">WBCSD&rsquo;s Vision 2050</a>. Even President Biden signed an <a href="https://futureofsourcing.com/americas-supply-chain-resilience-why-president-bidens-executive-order-falls-short" target="_blank">Executive Order on Supply Chain Resilience</a> to assess vulnerabilities and strengthen the capacity to respond to international disasters and emergencies. These are clear indications that while risk identification will always be a key part of procurement strategy, driving improvements that will mitigate these risks over the long term &ndash; and help preemptively avert future risks &ndash; requires deeper engagement with suppliers.</p> <p>A more holistic approach to sustainable procurement is needed: An approach that embraces a performance mindset and engages suppliers in a long-term sustainable journey that creates value. Let&rsquo;s discuss how organizations can <a href="https://resources.ecovadis.com/rethink-rebuild/rethink-rebuild-supply-chain-how-to?utm_medium=referral&amp;utm_source=ebook&amp;utm_campaign=future-of-sourcing-may-byline" target="_blank">rethink and rebuild</a> their supply chain risk management strategies to create a more sustainable business that is not only resilient in pandemics, but also within the looming climate crisis, and extends corporate values of diversity and antidiscrimination throughout the value chain.</p> <h2>Align the Strategy</h2> <p>Embracing a performance mindset starts with the executive team aligning the company strategy with its mission. This starts with leadership considering which goals will have the biggest impact on the company to achieve success &ndash; boosting ROI, amplifying customer relations, building investment opportunities, etc.</p> <p>Once identified, leadership should clearly communicate across the company how those goals align with environment, labor and human rights, ethics, and sustainable sourcing and supply strategies. This sets a foundation for procurement and supply chain leaders to build and execute their strategies to support the mission. It also creates an environment where leadership is driving the transformation with initiatives led, and accountability shouldered, by top management.</p> <h2>Upgrade Tools to Benchmark and Engage Trading Partners</h2> <p>Many compliance programs use a narrow range of &ldquo;pass/fail&rdquo; criteria, but this is limited to avoiding risk. These systems cannot identify or incentivize trading partners to strive for great performance. Thus, trading partners aim for only the minimum required to comply.</p> <p>Integrating new tools for measuring and monitoring trading partner sustainability performance is needed to truly assure compliance. It enables trading partners to seamlessly share their sustainability performance to engage teams in risk and performance goals. Not only does a &ldquo;rich&rdquo; scoring system push trading partners to adopt a performance mindset, it also gives teams a way to rank and benchmark the top performers they want to work with.</p> <h2>Push Ownership Upstream to Suppliers and Buyers</h2> <p>Companies should encourage their trading partners to take ownership of their own share of the goals and mission. They can do this by incentivizing trading partners to achieve the highest performance possible and reward those with the best performance through awards, recognition events and more.</p> <p>The goal is to get trading partners to continuously make sustainability improvements. And for those that rank low, it&rsquo;s up to the company to help their trading partner develop an action plan to improve its performance.&nbsp;</p> <h2>Integration in the Procurement Process</h2> <p>Driving results beyond compliance also requires connecting the dots from the trading partner&rsquo;s performance ranking system to the procurement decisions and behavior. This includes setting targets and business rules linked to performance as well as technical integration by connecting software systems to drive internal adoption.</p> <p>The connection of business decisions to sustainability performance drives behavior change and higher performance from both buyers and suppliers alike.</p> <h2>Collaborate to Drive Improvements and Innovation</h2> <p>Collaboration with firms and stakeholders is vital. This can be achieved by proactively designing out problems in the supply chain in both products and processes. For example, incorporating Lean principles aligned with sustainability best practices such as reducing resource use and waste, valuing the workforce and reducing downtime can become part of the continuous improvement program.</p> <p>Companies can also go beyond performance targets and empower workers through education by making direct investments in their suppliers&rsquo; employee development. The result is a supplier base with a better-educated workforce who are prepared to use their own voice to ensure fair labor and human rights practices are present and implemented in trading partners.</p> <p>Pressures around sustainability and transparency are growing. The supply chain is the largest risk but also the largest lever of opportunity for building a more sustainable and resilient business. Rethinking and rebuilding supply chain strategy around resilience and sustainable value creation enables organizations to respond faster to changing business conditions and seize opportunities so they can continue to thrive.</p> <p><em>Want to learn how EcoVadis empowers sustainable procurement and climate change leaders with insights on supplier GHG/carbon management practices? Check out the upcoming <a href="https://ecovadis.com/events-webinars/sig-solution-deep-dive-webinar-the-ecovadis-carbon-action-module/" target="_blank">SIG Solution Deep Dive Webinar: The EcoVadis Carbon Action Module</a>. Everyone registered will receive the on-demand recording.</em></p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/compliance" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Compliance</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/ethical-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Ethical Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/ecovadis" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">EcoVadis</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Compliance Does Not Equal Resilience - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/compliance-does-not-equal-resilience"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Mon, 24 May 2021 17:00:00 +0000 Pierre-Francois Thaler 1992 at https://www.futureofsourcing.com https://www.futureofsourcing.com/compliance-does-not-equal-resilience#comments Shifting Source-to-Pay Operations to Serve the Values-Based Consumer https://www.futureofsourcing.com/shifting-source-to-pay-operations-to-serve-the-values-based-consumer <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2827%29.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2827%29.png" title="Corporate social responsibility" class="colorbox" rel="gallery-node-1747-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Copy%20of%20FoS%20Header%20Images%20%2827%29.png?itok=J8btkW4T" width="624" height="325" alt="Corporate social responsibility" title="" /></a></div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/sourcing-in-the-circular-economy">Sourcing in the Circular Economy</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Legislation regarding the environment, modern slavery and other sustainable procurement laws are coming into force at a breakneck pace. By embracing change now and adopting ethical and sustainable procurement, organizations can get ahead of the curve. Also, this socially responsible commerce movement is being thrust into the forefront of how business will operate moving forward, given the guidelines for the recent stimulus bill passed in the U.S.</p> <p>As ethical sourcing has become increasingly important for consumers, senior procurement executives, who once resided in the back office, are now front and center, with new responsibilities demanded of them. Now is the time for procurement professionals to rise to the challenge<span style="font-size: 13.008px;">&nbsp;</span>and shift source-to-pay operations to be in alignment with overarching corporate social responsibility (CSR) objectives.</p> <h1>Brands Taking Stands: A Key Element to Win Hearts and Minds and Drive Sales and Loyalty</h1> <p>In a fiercely competitive market where customers have many options, socially responsible sourcing is key to winning new customers.</p> <p><a href="https://clutch.co/pr-firms/resources/how-corporate-social-responsibility-influences-buying-decisions" target="_blank">One study</a> reveals the extent to which organizations&rsquo; values are becoming more important to consumers in the U.S., critical to driving both sales and consumer loyalty. Seventy-one percent of consumers identified environmentally friendly business practices as a crucial element to earn brand loyalty. Efforts to give back to the community where an organization resides and specific corporate social responsibility initiatives come next, with 68% &nbsp;of consumers listing these attributes as important.</p> <p>However, socially responsible sourcing is rarely the most cost-effective option. Increasingly organizations &nbsp;understand that consumers<span style="font-size: 13.008px;">&nbsp;&ndash;&nbsp;</span>while wanting the companies they do business with to be socially responsible<span style="font-size: 13.008px;">&nbsp;&ndash;&nbsp;</span>aren&rsquo;t always willing to pay a higher price.&nbsp;</p> <p>For instance, <a href="https://www.prnewswire.com/news-releases/while-70-of-consumers-worry-about-the-environment-only-52-have-changed-what-they-buy-300835240.html" target="_blank">an A.T. Kearney study</a> of 1,000 US consumers&#39; sentiments on environmental issues found that more than 70% consider their impact on the environment when shopping.&nbsp;Almost half of all respondents, across all income levels, note cost&nbsp;as the primary obstacle to purchasing &lsquo;green.&rsquo;</p> <p>There&rsquo;s a significant case to be made for socially responsible and sustainable procurement, such as saving the planet and it morally being the right thing to do. Still, for companies to wholeheartedly embrace these practices, the process must be sustainable from a business perspective.&nbsp;Companies that put in place sustainable procurement practices now are set to out-maneuver competitors as the business world continues to adopt this as a new de facto go-forward. As such, they&rsquo;ll be positioned to command a significant share of the growing appetite for goods and services that are better for people and the planet.</p> <h1>Getting Started and Getting Suppliers on Board</h1> <p>By conducting a sustainable&nbsp;spend analysis, companies can evaluate and prioritize opportunities to improve environmental, social and economic performance within their supply chains.</p> <p>Insights and baseline data can help organizations identify spend categories that comprise the largest environmental, social and economic benefits, and where new sourcing practices and guidelines can help organizations reach their social responsibility goals.</p> <p>Many of your suppliers may already be working to improve their product lines and taking steps to implement new processes and policies that align with your objectives. And if not, it&rsquo;s possible that opening dialogue and sharing goals and timelines for impact reduction may foster more collaboration and cooperation in this area.</p> <h1>Strategic Purchase-to-Pay Operations Supercharge Socially Responsible Sourcing</h1> <p>There is no turning back; socially responsible sourcing is here to stay. Organizations should look at how they can make this movement sustainable from a business perspective &ndash; or face becoming irrelevant, or worse, replaced by a more socially-conscious competitor. Being strategic with purchase to pay operations can help.</p> <p>Accounts Payable (AP) visibility can help organizations master spend transparency<span style="font-size: 13.008px;">&nbsp;&ndash;&nbsp;</span>what is owed and when &ndash; which is critical to support creative working capital strategies that derive new revenue streams from payables. And AP automation can ensure that all invoices are captured with minimal manual intervention required, so they can be quickly matched and approved for payment.</p> <p>Paying suppliers late to boost available net working capital has been part of the finance playbook for many years. Today, however, many organizations are considering that the best way to increase available net working capital instead comes from days payable outstanding (DPO) extensions. Instead, many are realizing the significant opportunity that exists within their payables to achieve risk-free returns, in lieu of, or in addition to, more traditional working capital strategies.</p> <p>Organizations can gain significant savings opportunities by taking advantage of early payment discounts, volume rebates or trade spend initiatives. It&rsquo;s not necessary to accept all early payment discounts. If cash on hand is deficient or the capital outlay exceeds the benefit of the discount offered, it may make sense to pay later. However, having the option to leverage early pay discounts can provide significant risk-free returns that can add substantially to the bottom line. And those dollars can help offset the higher price of sourcing in a socially responsible/environmentally friendly manner.</p> <h1>Winning over Internal Stakeholders</h1> <p>Once socially responsible sourcing practices are embedded in the organization&rsquo;s procurement processes, it&rsquo;s vital to measure progress. Supply chain and procure-to-pay professionals should collaborate and keep key internal stakeholders apprised on sustainable sourcing efforts.</p> <p>To this end, the overall impact of socially responsible sourcing should be measured and shared in terms of the metrics that matter to them. For example, for marketing and sales, that may be revenue enablement. For others, it may be brand perceptionor social and environmental impact numbers. This is a substantial opportunity for sourcing pros to liaise with various business departments to understand what metrics are most important. &nbsp;</p> <h1>Sustaining Socially Responsible Sourcing</h1> <p>Getting started is crucial, finding the means to sustain socially responsible sourcing is paramount, and putting in place the mechanisms for ongoing measurement and organizational collaboration are all part of the equation. And all will need to be in place to aid supply chain and source-to-pay professionals in making the shift to support the needs of today&rsquo;s value-conscious consumers.&nbsp;&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/corporate-social-responsibility-csr" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Corporate social responsibility (CSR)</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/supplier-management" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Supplier Management</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Shifting Source-to-Pay Operations to Serve the Values-Based Consumer - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/shifting-source-to-pay-operations-to-serve-the-values-based-consumer"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 23 Apr 2020 00:10:10 +0000 Shannon Kreps 1747 at https://www.futureofsourcing.com https://www.futureofsourcing.com/shifting-source-to-pay-operations-to-serve-the-values-based-consumer#comments 6 Tips to Drive Sustainable Procurement https://www.futureofsourcing.com/6-tips-to-drive-sustainable-procurement <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2826%29.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2826%29.png" title="Sustainable business" class="colorbox" rel="gallery-node-1746-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Copy%20of%20FoS%20Header%20Images%20%2826%29.png?itok=BwyHTCH-" width="624" height="325" alt="Sustainable business" title="" /></a></div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/7-steps-to-build-and-execute-your-sustainable-procurement-initiative">7 Steps to Build and Execute your Sustainable Procurement Initiative</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>In 2020, you can bet your bottom dollar that consumers won&rsquo;t be spending theirs on your products if you aren&rsquo;t striving to operate sustainably.</p> <p>For years, naysayers have argued that the consumers who <em>say </em>they want sustainable products aren&rsquo;t actually willing to part with the extra cash to acquire them, opting for fast-fashion and plastic packaging over higher price points. <a href="https://fortune.com/2019/11/05/sustainability-marketing-consumer-spending/" target="_blank">Recent research</a> proves this is simply not the case.</p> <p><a href="https://hbr.org/2019/06/research-actually-consumers-do-buy-sustainable-products" target="_blank">One study</a> conducted by NYU Stern&rsquo;s Center for Sustainable Business found that 50% of consumer-packaged goods (CPG) growth came from sustainably marketed products. In addition, these products grew 5.6 times faster than those not marketed as sustainable.</p> <p>In turn, businesses are responding to this shift, with <a href="https://www.un.org/sustainabledevelopment/sustainable-consumption-production/" target="_blank">93%</a> of the world&rsquo;s 250 biggest companies now reporting on sustainability, and the sustainability market predicted to be worth <a href="https://www.businessinsider.com/sustainability-as-a-value-is-changing-how-consumers-shop?r=US&amp;IR=T" target="_blank">$150 billion</a> by 2021.</p> <p>For procurement professionals, this changing business landscape provides a fantastic opportunity to reinvent their supply chains. Sustainable procurement (sometimes referred to as green procurement or sustainable purchasing) means integrating corporate social responsibility (CSR) into all procurement processes and decision making, while ultimately still driving value for the business. It means going above and beyond government-enforced regulations to impart long-lasting, meaningful change.&nbsp;&nbsp;</p> <h1>Benefits of Sustainable Procurement</h1> <ul> <li><strong>Risk reduction: </strong>The process of evaluating supply chain sustainability will reveal those high-risk areas that have historically been neglected, whether it&rsquo;s bad supplier practices (such as modern slavery) or environmental risks (including natural disasters). Investing in sustainable practices means working alongside suppliers that are compliant (or working towards being compliant) when it comes to factors like environmental regulations.</li> <li><strong>Future-proofing your organization: </strong>Investing in long-term supply chain prosperity not only means you&rsquo;re protected against future issues such as scarcity in supply, but you&rsquo;re also working to meet current and future demand. This maintains your brand&rsquo;s relevance and appeal for years to come.</li> <li><strong>Improved reputation: </strong>As proven by the stats above, well-marketed sustainability initiatives will give your brand reputation a massive boost. Not only that, but staff retention and the attraction of top-talent will also improve because employees increasingly want to work somewhere where they feel they are making a difference and doing good.</li> <li><strong>Reduced overhead costs: </strong>Sustainable procurement requires professionals and suppliers to streamline their processes to drive efficiency and minimize waste. The reduction of utility costs (as a result of opting for energy-saving products and services) and minimizing over-specification will save organizations money in the long term. <a href="https://www.cips.org/supply-management/opinion/2019/july/making-the-switch-to-sustainability-ratings/" target="_blank">The World Economic Forum found</a> sustainable procurement practices could reduce costs by 9 to 16%.</li> </ul> <h1>Six Tips to Drive Sustainable Procurement in Your Organization</h1> <p><strong>1. Make a business case</strong></p> <p>So you&rsquo;ve decided it&rsquo;s about time your procurement team shaped a comprehensive sustainability program, but where to start? The first step to making lasting change is identifying key stakeholders and decision-makers within your organization and communicating your business case to them. Put together a presentation that explains why sustainable procurement is essential and how it will contribute to the business&rsquo; bottom line. Identify other cheerleaders in the company who will advocate for you and support your efforts.</p> <p><strong>2. Create a strategy that works for you</strong></p> <p>Procurement teams and organizations come in all different shapes and sizes, which means there is no magic, one-size-fits-all approach to implementing sustainability initiatives. Identify your priorities, pain points, and high-risk areas in order to formulate a detailed plan. Which areas of your supply chain will most benefit from change? Figure out where you want to be and when, but be realistic with your goals. You&rsquo;ll need to consider a wide range of stakeholders and account for your corporate policy. Sustainability initiatives should never come at the expense of business success; that doesn&rsquo;t do <em>anyone</em> any favors.</p> <p>Demand management is often a practical place to start, which means figuring out how to operate more efficiently. It&rsquo;s also important to try and integrate sustainable practices into your existing procurement processes, rather than starting &nbsp;anew.</p> <p><strong>3. Find suppliers that align with your end-goal</strong></p> <p>Once you&rsquo;ve figured out your sustainability priorities and ultimate aims, it&rsquo;s time to review and audit your suppliers. Which of them accommodate, or can work to accommodate, your newly-established needs? It&rsquo;s worth developing a scoresheet to rate and compare suppliers. This process is also a fantastic opportunity to better get to know your suppliers.</p> <p><strong>4.&nbsp; Work collaboratively</strong></p> <p>Change won&rsquo;t happen without company-wide collaboration that ensures all areas of the organization are aligned. Indeed, <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=10&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjZgv-WpdnnAhXMVRUIHfgMCa8QFjAJegQIBBAB&amp;url=https%3A%2F%2Fwww.reedglobal.com%2Fblog%2F2018%2F07%2F4-ways-to-embrace-sustainable-procurement&amp;usg=AOvVaw3CLnX_KaGc4W0wv7VPfZxz" target="_blank">70% of companies</a> claim that multi-stakeholder collaborations are key to more sustainable and ethical supply chains. You might also choose to work alongside other businesses or NGOs to share best practices in achieving your common goals.</p> <p><strong>5. Get the low-down</strong></p> <p>Sustainable procurement cannot be achieved without transparency throughout the supply chain, which means doing your homework &ndash; and lots of it. You&rsquo;ll need complete visibility of all your tier 1 suppliers, require tier 1 suppliers to do the same for <em>their</em> suppliers, and so on. EcoVadis&rsquo; biennial report <em>Sustainable Procurement Barometer</em> found that <a href="https://spendmatters.com/uk/sustainable-procurement-how-it-is-evolving-as-a-procurement-priority/" target="_blank">45%</a> of organizations only have visibility with tier 1 suppliers and concerningly, 28% claim to have no visibility into their supply chains at all.</p> <p><strong>6. Take it one step at a time&nbsp;</strong></p> <p>One thing I can guarantee is that change won&rsquo;t happen overnight. Implementing sustainability measures takes time, commitment and patience. Rather than biting off more than you can chew in a small space of time, start by focusing on the quick wins.</p> <p>After all, it&rsquo;s those seemingly insignificant incremental changes that can add up to make the greatest change.</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-supply-chains" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Supply Chains</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Procurement</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/risk-management-and-compliance-grc" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Risk Management and Compliance (GRC)</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/corporate-social-responsibility-csr" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Corporate social responsibility (CSR)</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="6 Tips to Drive Sustainable Procurement - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/6-tips-to-drive-sustainable-procurement"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Wed, 22 Apr 2020 15:07:44 +0000 Cindy Rittel 1746 at https://www.futureofsourcing.com https://www.futureofsourcing.com/6-tips-to-drive-sustainable-procurement#comments Why Sustainable Procurement is Becoming a Bigger Deal https://www.futureofsourcing.com/why-sustainable-procurement-is-becoming-a-bigger-deal <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Why%20Sustainable%20Procurement%20is%20Becoming%20a%20Bigger%20Deal.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Why%20Sustainable%20Procurement%20is%20Becoming%20a%20Bigger%20Deal.png" title="Sustainable Procurement " class="colorbox" rel="gallery-node-1727-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Why%20Sustainable%20Procurement%20is%20Becoming%20a%20Bigger%20Deal.png?itok=e7JTuXW8" width="624" height="325" alt="Sustainable Procurement " title="" /></a></div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/how-to-know-if-your-print-suppliers-are-green">How to Know if Your Print Suppliers are “Green”</a></div><div class="field-item odd"><a href="/sustainable-procurement-what-you-need-to-know">Sustainable Procurement: What You Need to Know</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Several recent developments suggest that sustainable procurement is about to become a more significant priority for business and procurement leaders. In August of last year, for example, the <a href="https://www.businessroundtable.org/" target="_blank">Business Roundtable</a> &ndash; a non-profit association whose members are the CEOs of major U.S. companies &ndash; captured widespread public attention when it released a new <a href="https://opportunity.businessroundtable.org/wp-content/uploads/2020/02/BRT-Statement-on-the-Purpose-of-a-Corporation-with-Signatures-Feb2020.pdf" target="_blank"><em>Statement on the Purpose of a Corporation</em></a>.</p> <p>In earlier statements, the Business Roundtable had asserted that the primary purpose of a corporation is to serve its shareholders. The 2019 statement changes direction rather dramatically and states that corporations must serve the interests of a broader set of stakeholders, including &ldquo;communities.&rdquo;</p> <p>The new statement reads in part:</p> <p><em>&ldquo;We commit to:&nbsp;</em><em>. . .&nbsp;</em><em>Supporting the communities in which we work. We respect the people in our communities and protect the environment by embracing sustainable practices across our businesses.&rdquo;</em></p> <p>Earlier this year, <a href="https://www.blackrock.com/" target="_blank">BlackRock</a> &ndash; the world&rsquo;s largest money manager with over $7 trillion of assets under management &ndash; announced that it is overhauling its investment strategy to make sustainability a major criterion for evaluating potential investments. In its <a href="https://www.blackrock.com/uk/individual/blackrock-client-letter" target="_blank">January letter to clients</a>, BlackRock&rsquo;s global executive committee wrote:</p> <p><em>&ldquo;Because sustainable investment options have the potential to offer clients better outcomes, we are making sustainability integral to the way BlackRock manages risk, constructs portfolios, designs products and engages with companies. We believe that sustainability should be our new standard for investing.&rdquo;</em></p> <p>BlackRock isn&rsquo;t the only investor focused on sustainability. Both institutional and individual investors are increasingly interested in &ldquo;ESG&rdquo; (environmental-social-governance) investing. <a href="https://www.morningstar.com/lp/sustainable-funds-landscape-report" target="_blank">A 2019 research report by Morningstar</a> stated that in 2018, there were 351 &ldquo;sustainable&rdquo; funds available to U.S. investors, up from 235 such funds in 2017. This report also found that 2018 was the third consecutive year that sustainable funds received record cash inflows.</p> <h1>Impact of Sustainable Procurement</h1> <p>Company leaders are bound to take notice when investors begin making their investment decisions based on sustainability factors. So we are likely to see many companies intensify their efforts to conduct business operations in a more sustainable way.</p> <p>The growing focus on sustainability will impact companies of all sizes. That&rsquo;s because business leaders recognize that the environmental reputation of their company is strongly affected by the environmental practices of their suppliers. <a href="https://www.mckinsey.com/business-functions/sustainability/our-insights/starting-at-the-source-sustainability-in-supply-chains" target="_blank">Recent research by McKinsey &amp; Company</a> found that the typical CPG company&rsquo;s supply chain accounts for more than 80% of total greenhouse emissions and more than 90% of the total environmental impact on air, land, water, biodiversity and geological resources.</p> <p>The bottom line is, it&rsquo;s nearly impossible for a company to build a winning record for environmental sustainability unless it works with suppliers that also use sound environmental practices. Therefore, it&rsquo;s likely that many companies will be making sustainable procurement a more important strategic priority.</p> <h1>Applying Sustainable Procurement to Print</h1> <p>Print and marketing services procurement is the primary focus of my company&rsquo;s business, and the good news is, it&rsquo;s relatively easy to apply sustainable procurement to the acquisition of printed materials. There are several independent organizations that provide certifications for firms operating in the printing industry. Sourcing professionals can use these certifications when choosing among competing suppliers, or they can require companies to possess one or more of these certifications to qualify as an approved supplier.</p> <p>There are four widely used environmental certifications available to printing firms, below is&nbsp;a brief description of each.</p> <p>Forest Stewardship Council (FSC)<strong> </strong>&ndash;<strong> </strong>The Forest Stewardship Council provides two types of certifications &ndash; Forest Management and Chain-of-Custody. The Forest Management certification confirms that a specific area of forest is being managed in an environmentally sustainable manner. The Chain-of-Custody certification traces the path of products from forests through the supply chain. In the case of printed materials, the Chain-of-Custody certification means that the products were printed on paper that was produced from FSC-certified forests.</p> <p>Sustainable Forestry Initiative (SFI)<strong> </strong>&ndash;<strong> </strong>SFI has a Chain-of-Custody Standard that is similar to FSC&rsquo;s. It is a system for tracking forest fiber content through production and manufacturing to end products.</p> <p>Programme for the Endorsement of Forest Certification (PEFC) &ndash; PEFC is a global alliance of national forest certification systems. It provides a Chain of Custody certification that is similar to those offered by FSC and SFI.</p> <p>Sustainable Green Printing Partnership (SGP)<strong> </strong>&ndash; The certification provided by the Sustainable Green Printing Partnership is significantly broader than the chain-of-custody certifications provided by FSC, SFI and PEFC. The standards used in the SGP certification process cover practices relating to energy and other resource consumption, waste reduction and greenhouse emissions, among others. Therefore, SGP certification indicates that a printing company is using a range of business practices that support environmental sustainability.</p> <p>It&rsquo;s clear that public opinion about climate change and environmental sustainability has changed significantly over the past several years. There is a growing perception that climate change is real and it appears that many business leaders now believe it is in their best interest to step up their efforts on sustainability. That&rsquo;s why sustainable procurement is about to become an even bigger deal.</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainability" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainability</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/print-marketing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">print marketing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Procurement</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Why Sustainable Procurement is Becoming a Bigger Deal - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/why-sustainable-procurement-is-becoming-a-bigger-deal"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 26 Mar 2020 17:08:01 +0000 Sarah Scudder 1727 at https://www.futureofsourcing.com https://www.futureofsourcing.com/why-sustainable-procurement-is-becoming-a-bigger-deal#comments Sustainable Procurement: What You Need to Know https://www.futureofsourcing.com/sustainable-procurement-what-you-need-to-know <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2810%29.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Copy%20of%20FoS%20Header%20Images%20%2810%29.png" title="Sustainable Procurement" class="colorbox" rel="gallery-node-1721-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Copy%20of%20FoS%20Header%20Images%20%2810%29.png?itok=WkwxsfTL" width="624" height="325" alt="Sustainable Procurement" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <h1>Sustainable Procurement: What You Need to Know</h1> </div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/procurement-is-the-ultimate-guardian-of-responsible-supply-chains">Procurement Is the Ultimate Guardian of Responsible Supply Chains</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Sustainability is one of the most important trends of our time &ndash; and it looks set to dominate business discussions well into the foreseeable future. In fact, studies have made the case for sustainability to be considered <a href="https://www.researchgate.net/figure/Matrix-Including-Sustainability-in-the-Categories-of-the-Kraljic-Model-Source-Krause-et_fig1_316034017" target="_blank">a new type of competitive priority</a>, joining quality, cost, reliability, timeliness, flexibility and innovation as one of the core factors for building competitive businesses.</p> <p>The adoption rate of sustainable practices by public and private sector entities has ranged from rapid, voluntary adoption to slow coercion. A number of factors, ranging from customer purchasing choices and international law to supplier specifications and public demand have meant the drive toward sustainability has progressed at an unequal rate.</p> <p>When it comes to the public sector, sustainable procurement has been a central part of the agenda for some time. It is in the public interest that hard-earned taxes are utilized in the most responsible manner possible, and currently that means operating in a sustainable way. This has pushed public organizations to build procurement processes that don&rsquo;t waste taxpayer money, have positive social impacts and protect the environment in a number of ways.</p> <p>Private sector initiatives, however, have not widely adopted the sustainable procurement framework until recently, instead individually focusing on their own operations and building their own sustainability initiatives. However, consumer demands and global trends are now strongly centered on sustainability, and as a result, the private sector has been forced to shift.</p> <p>As we enter a new decade, it is vitally important that procurement leaders understand what sustainable procurement means for both public and private sector organizations, and how they can shift their procurement operations toward supporting the planet and its people while operating in a profitable way.</p> <h2>What is sustainability in procurement?</h2> <p>In short, sustainability means avoidance of the depletion of natural resources in order to maintain an ecological balance. If sustainability is the goal, sustainable procurement is when a company balances the need to embed corporate social responsibility (CSR) principles into its procurement processes while also meeting company requirements. Sustainable procurement generally focuses on three key impact areas &ndash; environmental, social and economic responsibility.</p> <h3>Environmental</h3> <p>It is common knowledge that over-consumption and waste are at the core of all practices that are harmful to the environment. Sustainable procurement, therefore, has a clear role to play in lowering the environmental impact of an organizations&rsquo; actions and can guide it toward making greener choices. Purchasing energy saving lightbulbs and recyclable materials, shifting toward paperless operations, and cutting down on shipping through document e-signature tools all help organizations become greener.</p> <h3>Social</h3> <p>Responsible sourcing also has the potential to make a positive social impact in organizations and communities. Sourcing that supports different groups of people will open more opportunities for inclusion, and when adopted at scale, this will have a global impact. Equally, sourcing that takes the origins and working conditions under which vendor products and services are delivered into account will also support good practices and force those who do not meet the criteria to change.</p> <h3>Economic</h3> <p>This requires a more considered, networked approach, but instead of solely focusing on the profit margins of your own organization, a robust sustainable procurement policy aims to deliver positive economic benefits to as many stakeholders inside &ndash; and outside &ndash; of an organization as possible. In particular, a strong focus on your down-chain suppliers will increase your positive social impact and will accelerate their development and prosperity.</p> <p>The key factor in all three impact areas is transparency facilitated by digitalization. Organizations that understand the origin of the goods and services they procure are better equipped to make sustainable procurement choices that meet their tender criteria. They can also ensure these goods and services are utilized responsibly within the organization and waste is reduced. A fully digital approach to procurement is a key driver of an organization&#39;s transparency.</p> <h2>Benefits of Sustainable Procurement</h2> <p>Far from impeding an organization&rsquo;s effectiveness, sustainable procurement has the potential to drive down costs, eliminate waste and build a better brand reputation. It allows an organization to honestly review its processes, learn where it needs to improve, change processes and give training where needed.</p> <p>Sustainable procurement also future proofs your organization by making it more resilient to supply scarcity and capable of supporting demand in emerging markets. It improves your risk management processes by working with suppliers who are less likely to encounter breaks in production due to environmental issues.</p> <p>It also holds internal and external stakeholders to high standards by forcing compliance with environmental and social legislature and builds a better understanding of an organization&rsquo;s local business community and global supply chain. This leads to smarter, more sustainable choices and a competitive advantage in more volatile times.</p> <h2>Key Drivers of Sustainable Procurement in Your Organization</h2> <p>Many public sector organizations feel pressure to operate in a sustainable way. But, as previously discussed, the pressure for private sector organizations to adopt sustainable procurement approaches is high. Most organizations that transition to a sustainable procurement model follow the same steps:</p> <h3>A change in mindset driven by leadership.</h3> <p>From the board to the C-suite, an organization&rsquo;s leadership is an essential driver of sustainability change. When organizations pivot their business goals toward sustainability targets, procurement needs to adjust its processes to ensure it supports these new demands.</p> <p>A change to existing KPIs, short-term and long-term objectives, and operational practices is only possible if the procurement team has aligned the department&rsquo;s objectives with the new strategy &ndash; and ensures these changes are implemented at an operational level.</p> <h3>A technology-driven process to ensure sustainable procurement actions.</h3> <p>Robust sustainability policies, codes of conduct and CSR clauses written into supplier contracts are essential pieces of the sustainable operations puzzle, but with ever-increasing volumes of supplier relationships and ever-more demanding supplier criteria, it is essential that your business has an automated process to ensure compliance and monitor execution.</p> <p>A Contract Management System (CMS) can do a lot of the heavy lifting for you, and advances in Machine Learning and Natural Language Processing will even lead to the tender creation process being largely automated in the future.</p> <h3>Break down internal and external data silos.</h3> <p>The old approach of company departments maintaining and managing their own individual master data sets no longer works. In today&rsquo;s world, this is essentially like a body where the limbs make choices independently from the head. A sustainable procurement approach would be to integrate with the entire company&rsquo;s master data, which would in-turn give management a holistic view of the company that helps them clearly understand the impact purchases have on different parts of their business.</p> <p>In addition, integration with external partners upstream and downstream in a business value chain will help to synchronize efforts and create opportunities to build new, effective sustainable practices.</p> <h3>Increased focus on what brings value.</h3> <p>In many industries, outright ownership of property, inventory and equipment is reducing. The costs of staffing, maintaining and operating business-critical items like transportation fleets go far beyond deprecating vehicle values. Many procurement departments at traditional companies have shifted toward rental services where all vehicles, tools and pieces of equipment are optimally maintained by a service provider.</p> <p>They focus on what they do best, allowing organizations to focus on their core service delivery. A shift in these services has occurred, too, with many organizations focusing on delivering a smaller range of goods and services that deliver greater impact.</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/social-sustainability" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Social Sustainability</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/contract-management-system" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">contract management system</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Sustainable Procurement: What You Need to Know - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/sustainable-procurement-what-you-need-to-know"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Sun, 15 Mar 2020 18:41:51 +0000 Anne Riihimäki 1721 at https://www.futureofsourcing.com https://www.futureofsourcing.com/sustainable-procurement-what-you-need-to-know#comments Procurement Is the Ultimate Guardian of Responsible Supply Chains https://www.futureofsourcing.com/procurement-is-the-ultimate-guardian-of-responsible-supply-chains <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Sustainable%20Procurement%20Pledge.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Sustainable%20Procurement%20Pledge.png" title="Procurement Is the Ultimate Guardian of Responsible Supply Chains" class="colorbox" rel="gallery-node-1680-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Sustainable%20Procurement%20Pledge.png?itok=c5rdixPz" width="624" height="325" alt="Procurement Is the Ultimate Guardian of Responsible Supply Chains" title="" /></a></div></div></div><div class="field field-name-field-related-news field-type-entityreference field-label-above"><div class="field-label">Related news:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/can-b2b-transactions-help-tackle-todays-most-pressing-challenges">Can B2B Transactions Help Tackle Today’s Most Pressing Challenges?</a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Imagine a world where all people thrive within the environmental boundaries of our planet. Picture a planet where the immediate threat of climate disaster has been avoided and where global businesses have evolved their business models to support a responsible and low-carbon economy.</p> <p>Whilst is seems a bit far-fetched looking at today&rsquo;s realities, we fundamentally believe this world vision is possible and millions of procurement professionals worldwide are mission-critical in making this come true.</p> <p>The Sustainable Procurement Pledge offers a community and a starting point for anybody in procurement to declare their personal commitment to making a difference and changing their sphere of influence right now.</p> <h1>Changing the World Bottom-up</h1> <p>The idea was ignited by the <a href="https://globalclimatestrike.net/" target="_blank">Global Climate Strike</a> on September 20, 2019. What a powerful message! Children and adults from all walks of life made a clear statement, and we were all reminded about our prime responsibility: Leave our home, our ONE planet, in the same condition as it had been entrusted to us. &nbsp;</p> <p>At the same time, the <a href="https://fridaysforfuture.org/" target="_blank">Fridays for Future</a> initiative also provided an obvious clue to the fundamental question on how we can accelerate change to have an immediate impact &mdash; start with ourselves!</p> <p>There are many very good and profound sustainability initiatives, commitments and legislations, all involving companies, governments and institutions. But rarely have we seen professional initiatives that are personally addressed to individuals. Yet, as procurement professionals, we are holding an incredible decision power that many of our colleagues may not yet realize. Using our discretionary decision power for good drives many small changes that ultimately lead to a big change.</p> <h1>The Sustainable Procurement Pledge</h1> <p>Recognizing the power of the crowd, the idea to create a <a href="https://www.linkedin.com/company/sustainable-procurement-pledge/" target="_blank">Sustainable Procurement Pledge</a> (#SPP) was born. We wanted it to be a very inclusive pledge in which anybody involved in procurement activities around the globe could find themselves and engage &mdash; from intern to CPO, from student to professor, from buyer to supplier.</p> <h1>Leapfrogging Current Efforts</h1> <p>We wanted the pledge to be complimentary to existing sustainability initiatives. Responsible supply chains are in a space where we all need to collaborate. Combining the top-down initiatives with our bottom-up approach provides us all with the best chance to have a real impact.</p> <p>The Purpose of #SPP is to support all procurement individuals across the world to use their decision power for good, ensuring that the UN Sustainable Development Goals of ending poverty, protecting the planet and ensuring that all people enjoy peace and prosperity will be met by 2030.</p> <p>If each of us takes responsibility for our own procurement conduct, we can tackle the small things as well as change our way of thinking, reflecting and acting. If we all incorporate sustainability aspects into our decision matrix, then the sum of these small changes will make a huge impact on our world. Every procurement decision is a ballot! So, let us make it visible to the world and become ambassadors for sustainable procurement.</p> <h1>Increasing Awareness for Sustainability and its Importance in Procurement</h1> <p>What we would like to achieve with the Sustainable Procurement Pledge is to increase the awareness for sustainability and its importance in procurement.</p> <p><a href="https://www.docdroid.net/xlEM0vw/sustainable-procurement-pledge.pdf" target="_blank">The pledge</a> contains five statements derived from the 10 principles of the UN Global Compact and the Sustainable Development Goals of the United Nations. Subscribing ambassadors commit themselves to stand up for people and the planet, to work together to change the world, to start with themselves, to share knowledge and listen to others. Collaborating together, we can leave the right legacy of protecting a sustainable planet for us and future generations.</p> <p>With the Sustainable Procurement Pledge, we wanted to lay the foundation and invite others to further develop, commit, act and share the pledge in their personal networks. Since its go-live on October 18, more than 700 ambassadors have joined the <a href="https://www.linkedin.com/groups/8845732/" target="_blank">Sustainable Procurement Ambassador LinkedIn group</a>, an open space to collect and share ideas of good practices and life hacks for more responsible procurement aspects. Here, we initiate and foster a dialogue about responsible procurement and want to involve as many people in the procurement sector as possible to join forces and make a real impact on the ground.</p> <h1>Concrete Actions We Can All Take</h1> <p>We trust that everyone knows best which small and big things he or she can change to make an impact on responsible procurement.</p> <p>Obviously, there is no one-size-fits-all solution to solve the world&rsquo;s most pressing topic. However, we strongly believe in our #SPP ambassadors and the power and creativity of the crowd to develop and share ideas and good practices. These will ensure everybody can find inspiration for his or her individual next step.</p> <p>In every decision process, let&rsquo;s ask ourselves which sustainability aspects we can include, what kind of sustainability impact our decision will have, and how our choices can bring the optimum for a more sustainable procurement activity.</p> <p>We believe there are always options! Let&rsquo;s challenge ourselves and others to adopt more sustainable alternatives that will pay off in the long term.</p> <h1>Please Join the Sustainable Procurement Pledge</h1> <p>We warmly invite you <a href="https://www.linkedin.com/groups/8845732/" target="_blank">to join the Sustainable Procurement Pledge (#SPP)</a> and make your commitment visible to the world. Join us and become an active ambassador who encourages his or her respective network to also embark on this mission.</p> <p>None of us knows what the future will bring. We are, however, committed to doing our personal best to ensure that a positive legacy of procurement is preserved. There is not a lot of time left and we do not have a second planet!</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/strategic-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategic Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/climate-change" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Climate Change</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/impact-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Impact Sourcing</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Procurement Is the Ultimate Guardian of Responsible Supply Chains - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/procurement-is-the-ultimate-guardian-of-responsible-supply-chains"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Sun, 26 Jan 2020 17:00:00 +0000 Thomas Udesen 1680 at https://www.futureofsourcing.com https://www.futureofsourcing.com/procurement-is-the-ultimate-guardian-of-responsible-supply-chains#comments Women in Global Sourcing: Julia Moshkin https://www.futureofsourcing.com/women-in-global-sourcing-julia-moshkin <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/WIGS_JUM.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/WIGS_JUM.png" title="Women in Global Sourcing: Julia Moshkin" class="colorbox" rel="gallery-node-1425-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/WIGS_JUM.png?itok=Xw4Ck1Gx" width="624" height="325" alt="" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p>Future of Sourcing Digital welcomes to the stage Julia Moshkin of <a href="https://www.ecovadis.com" target="_blank">EcoVadis</a>, as our latest participant in the &ldquo;Women in Global Sourcing&rdquo; series. This series strives to highlight, celebrate and acknowledge women who are pioneers and leaders in the industry and who have been influential in moving the industry forward.&nbsp;</p> <div>Julia Moshkin has over 10 years of experience in sustainability and environmental industry and is currently an Operation Manager and Senior CSR Analyst at EcoVadis. In this role, she is responsible for leading a CSR experts team that support evolution of EcoVadis product, managing engagements with stakeholders on emerging CSR topics and ensuring continuous improvement of EcoVadis methodology.</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong><em>Tell us about your career path? How did you get into this field, was it on purpose or by accident?</em></strong></div> <div>&nbsp;</div> <div>For me it was a little bit of both. My personal career goal is and always has been to maximize positive impact. From working on renewable energy and energy efficiency projects in the public and private sectors, to shifting gears into the <a href="https://futureofsourcing.com/node/658" target="_blank">sustainable procurement</a> space, I have always looked for the next frontier in sustainability. Five years ago, I joined the first &ldquo;on the ground&rdquo; EcoVadis team in North America, to help companies create value through sustainable procurement. I had experience in sustainability, but procurement I knew very little about. I recall preparing for my interview, trying to learn everything there is to know about the intersection of procurement and sustainability, and quickly realizing that this will be the next big thing, not only for my career, but for global businesses. For companies that have roughly 80% of their environmental footprint occurring outside of their four walls, sustainable procurement is the key to managing risk and maximizing positive impact. This is what I&rsquo;ve always been searching for, and unexpectedly found in this field.&nbsp;</div> <div>&nbsp;</div> <div><em><strong>Would you follow that same path again, if you had a choice?</strong></em></div> <div>&nbsp;</div> <div>Absolutely. I cannot be happier with the ways in which my career unfolded. Prior to joining EcoVadis, I had first-hand experience working for the public and the private sectors, trying to solve sustainability-related problems. I quickly realized the complexities of advancing even the simplest win-win solutions, and I believe those complexities exist more so today than 10 years ago. This is why I am thrilled to be helping organizations to tackle some of the challenges surrounding <a href="https://futureofsourcing.com/stop-drop-and-get-sustainable-four-ways-to-get-sustainable-procurement-started-now" target="_blank">supply chain sustainability and transparency</a>.</div> <div>&nbsp;</div> <div><strong><em>What was the most significant development to impact your profession or area of business during your career and why? </em></strong></div> <div>&nbsp;</div> <div>From new technologies to rising geopolitical pressures and extreme climate events, sustainability is emerging as an important business strategy. Now, more than ever, businesses are under scrutiny to make sound environmental and social decisions, because the cost of inaction is becoming too high. Social media is unforgiving, and consumers have shown that they are not shy about publicly shaming and turning away from offenders. This context creates an urgency for companies to act and the opportunity to emerge as leaders by fostering collaboration across the entire value chain.</div> <div>&nbsp;</div> <div><em><strong>What is the biggest challenge facing your industry today, and how are you planning to solve it?</strong></em></div> <div>&nbsp;</div> <div>I think one of the main challenges that we face today is complexity and the relative lack of visibility into supply chains. The main reason I joined EcoVadis five years ago, was to help businesses leverage the value of sustainability business intelligence. My vision is to help create a future in which collaboration across supply chains is seamless. Ultimately, this will help unlock value for organizations, and at the same time help improve economies, communities and the planet we all depend on. So, for me, being part of the solution and empowering procurement leaders with information to manage, engage and ultimately collaborate with their supply chain on sustainability issues, is a reward in and of itself.</div> <div>&nbsp;</div> <div><strong><em>What do you consider to be your greatest achievement career-wise?</em></strong></div> <div>&nbsp;</div> <div>Finding my voice, figuratively and literally speaking. I remember a year going by in my first job, until I felt confident enough to speak up in meetings. My confidence grew as I gained experience and started to take on more responsibilities but I always deliberately avoided public speaking. Last year, I took on an ultimate challenge, and was going to prove to myself that I can get over my fear of public speaking. I agreed to deliver a 10-minute presentation in front of 500 participants at EcoVadis&rsquo; event of the year &ndash; SUSTAIN. I cannot remember the days leading up to the conference, I was so nervous and in my own head. To my big surprise, it was a success! I didn&rsquo;t trip or fall on my face, and even remembered my whole speech by heart. In hindsight , the risk I took was worth it. I remain grateful for that opportunity to step out of my comfort zone in a way I hadn&rsquo;t done before.&nbsp;</div> <div>&nbsp;</div> <div><strong><em>What is your biggest (as yet) unfulfilled ambition &ndash; and what are you doing to achieve it?</em></strong></div> <div>&nbsp;</div> <div>My biggest ambition is finding a balance between the passion for what I do and the reality of who I am. As a mother of two children under the age of three, uncertainty and unpredictability are part of my life. But every day I am learning to embrace it, live in the moment and hold on to my sense of humor. My days do not always go as planned, but I am grateful for the amazing team I work with and support of my family for empowering me to follow my dreams. One day, I hope my children will reap the benefits of what I do, and live in a world where sustainability is as important as profits for businesses. Until then, I am committed to never stop working towards that goal.&nbsp;</div> <div>&nbsp;</div> <div><strong><em>What 3 words do you think your colleagues and peers would use to describe you?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>passionate, supportive, curious&nbsp;</div> <div>&nbsp;</div> <div><strong><em>What piece of advice would you give to young women starting their career in the field of sourcing and procurement?</em></strong></div> <div>&nbsp;</div> <div>I believe that the focus on sustainability in procurement is here to stay. The industry and practitioners are changing, I see it every day as more companies embrace sustainable procurement practices. You have an incredible opportunity to make a big impact through your purchasing decisions, so make sure that you have the right information and tools to make informed decisions. Ask yourself what motivates you, and why you want to be part of this field. This will help you discover your passion and connect your personal mission to the work you do.&nbsp;</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/women-in-global-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Women in Global Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Women in Global Sourcing: Julia Moshkin - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/women-in-global-sourcing-julia-moshkin"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Mon, 22 Apr 2019 19:07:42 +0000 Julia Moshkin 1425 at https://www.futureofsourcing.com https://www.futureofsourcing.com/women-in-global-sourcing-julia-moshkin#comments Women in Global Sourcing: Celia Landesberg https://www.futureofsourcing.com/women-in-global-sourcing-celia-landesberg <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/WIGS_Landsberg.png"><a href="https://www.futureofsourcing.com/sites/default/files/articles/WIGS_Landsberg.png" title="Women in Global Sourcing: Celia Landesberg" class="colorbox" rel="gallery-node-1371-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/WIGS_Landsberg.png?itok=4FPEAIhv" width="624" height="325" alt="" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p>Future of Sourcing Digital is excited to bring you a new series titled &ldquo;Women Global in Sourcing.&rdquo; This series strives to highlight, celebrate and acknowledge women who are pioneers and leaders in the industry and who have been influential in moving the industry forward. It is with great excitement that we feature Celia Landesberg this week, of EcoVadis.</p> <p>Celia is an advocate and energetic implementer of sustainable behaviors. A LEED Accredited Professional, Celia executed corporate sustainability strategies and performance analyses for some of the largest real estate companies in the world while working at Goby, a leading energy management and sustainability reporting company for the commercial real estate industry.</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong><em>Tell us about your career path. How did you get into this field? Was it purposeful or by accident?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>I created my mission and vision early on and use it as a guidepost for my career choices. My career goal is to ensure that people understand the value of <a href="https://futureofsourcing.com/node/658" target="_blank">sustainability</a> when making financial decisions. Whether I&rsquo;m dealing with one person, or hundreds of people, I strive to have a positive impact. &nbsp;</div> <div>&nbsp;</div> <div>As a freshman at University of Richmond, I saw the opportunity to improve sustainability practices on campus. I sought an internship with the new Director of Sustainability and, four years later, I had created or worked on virtually every campus sustainability initiative or policy. In my coursework and internships, I focused my research on supply chain sustainability. Seeking a job after graduating tested my resolve. &nbsp;Did I want to work for a big company or a start-up? What was the right industry for me? I remained true to myself and chose real estate sustainability and technology for my first post-graduate job. &nbsp;</div> <div>&nbsp;</div> <div>Sustainability is not a destination; it is the journey to a better future. My journey began in real estate. It was a wonderful landing spot given its intersection with every sector. I want to take on new industries and new challenges through reaching the world&rsquo;s largest organizations. My quest is to enable global organizations to use purchasing power as a force for good. The opportunity to drive planetary and economic improvements through procurement is real, and it enables me to continue on my less traveled path. &nbsp;</div> <div>&nbsp;</div> <div><strong><em>Would you follow that same path again if you had the choice?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>Yes. If I were to change one thing, it might be to spend more time on self-reflection. I get wrapped up in my work, so I have to force myself to stop and smell the proverbial roses. It&rsquo;s important that I evaluate my thoughts, feelings and interactions with others through a work lens. Sample self-reflection questions: How could I have done that differently? How did my decision affect others? Was I a good listener? What did I learn from my mistake?&nbsp;</div> <div>&nbsp;</div> <div><strong><em>What has been the single most significant development to impact your profession or area of business during your career and why?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>Becoming a salesperson. I never imagined myself in sales, but my CEO saw something in me and encouraged me. I&rsquo;m so glad he did. It&rsquo;s hard work, but rewarding. &nbsp;My job is both an incredible challenge and an absolute privilege. I&rsquo;ve worked together with hundreds of leaders and teams to learn their world, share perspectives and design successful strategies for change. The skills I&rsquo;ve learned as a salesperson are critical components in my career pursuits. &nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong><em>What&rsquo;s the biggest challenge facing your industry today - and how to you plan to solve it?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>Misalignment of expectation and reality. We have successfully increased the speed of practically everything, meaning we have created a system that puts more and more pressure on individuals in charge of delivery. It takes shape in a lot of ways, but from where I sit, the biggest impact is misalignment between what is expected and what is required to achieve that vision. We&rsquo;ve amassed more data in the past few years than in the prior centuries; yet so many times it&rsquo;s stuck in disparate places. For procurement, the way you use information determines the value it brings; information on its own rarely has a voice. With access to reliable data, teams will focus time answering the hard-to-reach, high-value questions, rather than grappling with low-value data collection exercises. Engaging with your stakeholders (suppliers, customers, other business units) early and often will increase effectiveness in the long term. I can&rsquo;t solve this alone, but I hope to equip teams with the frameworks and tools to recognize a path forward to their desired speed. &nbsp;</div> <div>&nbsp;</div> <div><strong><em>What do you consider to be your greatest achievement career-wise?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>Improving lives and environments of people around the world. I have a few personal milestones that I&rsquo;m proud of. In college, I received a leadership award, and, later, I was published in a scientific journal. But my fulfillment comes from my job. I&rsquo;m grateful that I work in a field where I can help others. &nbsp; &nbsp;</div> <div>&nbsp;</div> <div><strong><em>What&rsquo;s your biggest (as yet) unfulfilled ambition - and what are you going to do to achieve it?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>My ambition is to leave the world a better place than I found it. I know that with a balance of unrelenting commitment, a healthy dose of realism and access to the right channels I can do it. I&rsquo;ve already begun. &nbsp;</div> <div>&nbsp;</div> <div><strong><em>What three words do you think your colleagues and peers would use to describe you?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>Curious, loyal and energetic.&nbsp;</div> <div>&nbsp;</div> <div><strong><em>Finally, what piece of advice would you give to young women starting their careers in the field of sourcing, outsourcing and procurement?&nbsp;</em></strong></div> <div>&nbsp;</div> <div>I would offer women the following advice:&nbsp;</div> <ul> <li>Invest in yourself. You&rsquo;re worth it! Also, by dedicating resources to your own development and improvement, you&rsquo;ll make it simple for others to invest in you too, thus multiplying your return.</li> <li>Seek out people that lift you up: leaders, mentors, friends, coaches.</li> <li>Authenticity and compassion are more important than ever in our rapidly-evolving internet-driven world and workplace.</li> <li>Play to your strengths. You will see proportionately better results from getting better at strength areas than trying exhaustively to make small strides in your weaker areas.</li> <li>Operate from a mindset of possibility. This has been instrumental for me both personally and professionally. Instead of operating within the framework of scarcity and limits, explore your opportunities. &nbsp;</li> </ul> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainability" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainability</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/career-building" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Career Building</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/consulting" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Consulting</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Women in Global Sourcing: Celia Landesberg - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/women-in-global-sourcing-celia-landesberg"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 14 Feb 2019 19:03:24 +0000 Celia Landesberg 1371 at https://www.futureofsourcing.com https://www.futureofsourcing.com/women-in-global-sourcing-celia-landesberg#comments Award-Winning Sustainable Procurement: What Makes an Effective Program https://www.futureofsourcing.com/award-winning-sustainable-procurement-what-makes-an-effective-program <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/award%20winning%20sutainable%20sourcing624x325.jpg"><a href="https://www.futureofsourcing.com/sites/default/files/articles/award%20winning%20sutainable%20sourcing624x325.jpg" title="Award-Winning Sustainable Procurement: What Makes an Effective Program" class="colorbox" rel="gallery-node-1270-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/award%20winning%20sutainable%20sourcing624x325.jpg?itok=YWHQ4fKo" width="624" height="325" alt="" title="" /></a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p>Sustainability is a dominant topic in media, business and social conversations today, and one that communications and corporate responsibility departments in major multinational organizations have been eager to pursue. It makes sense&mdash;successful sustainability programs are not only good for our planet and people, but also are proven to drive business value. But what does &#39;success&#39; look like for procurement teams contributing to organizational programs and results?&nbsp;&nbsp;</p> <p><strong>Six indicators of a strong sustainable procurement program</strong></p> <p>Today&rsquo;s global value chains are vast by nature and spread across many diverse business activities and categories, local and international standards, labels and norms and geographic, regulatory and economic conditions. With 50 to 70 percent of a company&rsquo;s revenue going into the value chain, many leaders are wondering what an effective sustainable procurement program should look like in practice and what it takes to get there.</p> <p>These are great questions that don&rsquo;t have cookie-cutter responses. The answers will look different depending on the organization and its sustainability goals, business model, supply chain structure and internal resources. That said, there are a few generally consistent characteristics of effective sustainability initiatives to help make some sense of what constitutes superior performance.</p> <p><strong>1. Executive commitment leads the way.</strong></p> <p>Collaborating with stakeholders is vital for sustainable procurement and the executive leadership team is no exception to that rule. It&rsquo;s impossible to get any initiative across the finish line without executive buy-in and support, and this is especially true for sustainable procurement programs that require designated budget and internal resources.</p> <p>Given that many business considerations&mdash;brand reputation, financial returns, corporate strategy&mdash;touch sustainability, the executive team and board should be incentivized to adopt sustainable procurement and offer support where needed. Success starts with procurement managers communicating the business benefits of a responsible procurement program and articulating what the team needs from management so they can truly help. This support could take the form of additional internal resources, stronger talent or training, a larger budget or support with tracking mechanisms. If supply chain and procurement don&rsquo;t communicate to executives the business returns and what is needed for a sustainable procurement program, it&rsquo;s incredibly hard to receive the support required to get the ball rolling.</p> <p><strong>2. A lasting effect: program engagement.</strong></p> <p>Driving internal and external engagement and alignment is critical when rolling out global sustainable procurement programs. The best thing sustainability program leaders can do is build consensus among relevant parties for the new sustainability plans and policies from the outset. Engaging and collaborating with all stakeholders, making sure they understand: the importance of what you&rsquo;re doing; what they need to do to help the team get there; and what success looks like in terms of metrics and desired outcomes, goes a long way. This is true for everyone, including the leadership team, investors, employees, partners, suppliers and suppliers&rsquo; suppliers. Change only happens&mdash;and lasts&mdash;when everyone is pulling in the same direction.</p> <p><strong>3. Strong supplier policy frameworks ensure alignment. </strong></p> <p>Robust sustainability policies, supplier codes of conduct and CSR clauses written into supplier contracts are great first steps in a sustainability journey, but the real change happens elsewhere. Bombarding suppliers with questionnaires, audits and other monitoring mechanisms is reactionary, defensive and time-consuming&mdash;none of which bodes well when trying to motivate and encourage these partners to aid in the change management process.</p> <p>When working with suppliers it&rsquo;s important to communicate the shared value that will be created by following sustainable practices. Make corporate values, and what compliance with those values looks like, very clear. An educated supplier base clear on rules and objectives is better prepared to use their own voice to ensure fair practices and make procurement&rsquo;s job of managing risk and ensuring responsible sourcing easier in the long-run.</p> <p><strong>4. Avoiding silos, prioritizing performance indicators.</strong></p> <p>Modern supply chains are filled with risk at every turn, stemming from non-compliance, supply chain disruptions, market volatility and brand value loss. Each of these threats may seem to originate from various departments within the organization, but when it comes to fighting risk, responsibility should not be compartmentalized. A holistic approach is required to tackle supply chain and sustainability threats at the core.</p> <p>Making sure the suppliers you&rsquo;re dependent on aren&rsquo;t vulnerable to threats is the foundation for risk management. Conducting thorough supplier reviews that identify weak links and give procurement the information required to decide how to develop the suppliers into better performers, or remove them from the equation altogether, is a key component to an effective program. The second phase is providing the right training and best practices to make sure they stay the course.</p> <p><strong>5. Training programs and knowledge-sharing move the needle on value creation.</strong></p> <p>Effective supplier and team engagement should be followed up with training and education that helps both parties innovate beyond compliance. Holistic implementation guides that offer overviews of core sustainability concepts, issues and needs; address the benefits of CSR practices; give steps for implementation; and make specific recommendations based on supplier size, location and sector are extremely helpful. Combining training with a rich scoring system that rewards top suppliers creates a solid method for measuring program results. After all, it&rsquo;s hard to know if you&rsquo;re making progress without a roadmap that shows what true success looks like for the organization.</p> <p>This level of education and measurement ensures suppliers are equipped in the right ways and are empowered to act on their own. Buying organizations can&rsquo;t expect real progress unless they are giving their networks the right tools to make change happen&mdash;and since procurement teams can&rsquo;t be in all places at once, having this type of written, targeted framework extends governance and influence across the value network to achieve mutual sustainability goals.&nbsp; &nbsp;</p> <p><strong>6. Collaboration increases scale and coverage.</strong></p> <p>Industry collaboration is crucial for getting programs off the ground. Several consortiums have developed over the years (<a href="http://railsponsible.org/" target="_blank">Railsponsible</a>,<a href="http://responsiblebeautyinitiative.com/" target="_blank"> Responsible Beauty Initiative</a> and<a href="http://www.tfs-initiative.com/" target="_blank"> Together for Sustainability</a>, to name a few) designed to create best practices, help overcome common roadblocks and initiate sustainable change within each sector.</p> <p>Buying organizations and suppliers should look to peers to see what methods have worked for others and decipher whether they can be adopted in their own supply chains. Collaborating with partners and even competitors in this way drives results faster and farther than if each company were to act on its own. The geographic scale and coverage that comes with industry partnership can&rsquo;t be emulated with siloed approaches.</p> <p>Companies considered to be supply chain leaders tend to be further along in their <a href="http://www2.ecovadis.com/SP-diagnostic-press" target="_blank">sustainability maturity</a> due to their adoption of these practices that help them move beyond focusing on compliance and instead using sustainability to support their business goals. Take <a href="http://healthforhumanityreport.jnj.com/responsible-business-practices/supplier-engagement" target="_blank">Johnson &amp; Johnson</a> and Nestlé as examples. Both companies, recognized by Gartner as having top supply chains, were recently<a href="https://www.prnewswire.com/news-releases/ecovadis-announces-winners-of-2018-sustainable-procurement-leadership-awards-300627525.html" target="_blank"> cited as Sustainable Procurement Leaders</a> for their supply chain stewardship.</p> <p>Sustainability and competitive advantage go hand-in-hand and require procurement to take their practices to the next level, with sustainability strategies that educate, engage, guide and measure performance at each step along the way.</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainability" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainability</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/supplier-management" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Supplier Management</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Award-Winning Sustainable Procurement: What Makes an Effective Program - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/award-winning-sustainable-procurement-what-makes-an-effective-program"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Wed, 29 Aug 2018 17:00:00 +0000 Pierre-Francois Thaler 1270 at https://www.futureofsourcing.com https://www.futureofsourcing.com/award-winning-sustainable-procurement-what-makes-an-effective-program#comments Balancing Costs with Conscience https://www.futureofsourcing.com/balancing-costs-with-conscience <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://www.futureofsourcing.com/sites/default/files/articles/Balancing%20Cost%20with%20Conscience%20624x325.jpg"><a href="https://www.futureofsourcing.com/sites/default/files/articles/Balancing%20Cost%20with%20Conscience%20624x325.jpg" title="Technology has transformed the transparency and governance of supply chain management" class="colorbox" rel="gallery-node-1194-GNRAs7ImHJE"><img typeof="foaf:Image" src="https://www.futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Balancing%20Cost%20with%20Conscience%20624x325.jpg?itok=pf812JwB" width="624" height="325" alt="Technology has transformed the transparency and governance of supply chain management" title="" /></a></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div style="clear:both;"> <p paraeid="{83d54b60-f658-4a17-a38c-04e06afdde39}{212}" paraid="1574844507"><span xml:lang="EN-US">In his best-selling book &ldquo;</span><span xml:lang="EN-US">The World Is Flat</span><span xml:lang="EN-US">,&rdquo; Thomas Friedman a decade ago</span>&nbsp;<span xml:lang="EN-US">chronicled the ways in which technology was accelerating</span>&nbsp;<span xml:lang="EN-US">the pace of global commerce by extending market access to remote corners of the world</span><span xml:lang="EN-US">.&nbsp;</span><span xml:lang="EN-US">Meanwhile, alongside the rise of <a href="http://garevna.ucoz.com/metod-mat/books/Joseph_Stiglitz.pdf" target="_blank">globalization</a> has emerged a parallel phenomenon: a proliferation of supranational governance structures affecting everything from tariffs, taxation and terrorism to carbon emissions, data protection and sanctions enforcement</span><span xml:lang="EN-US">.</span><span xml:lang="EN-US">&nbsp;While formal agreements among nations date back centuries, what sets apart many of those enacted in recent years is the high degree of granularity with which they regulate commerce. Today, businesses large and small must grapple with the detailed implications for their operations, forcing them to reexamine how</span><span xml:lang="EN-US">&nbsp;&mdash;&nbsp;</span><span xml:lang="EN-US">and with whom</span><span xml:lang="EN-US">&nbsp;&mdash;&nbsp;</span><span xml:lang="EN-US">they conduct business.</span></p> </div> <div style="clear:both;"> <p paraeid="{83d54b60-f658-4a17-a38c-04e06afdde39}{247}" paraid="824499530"><span xml:lang="EN-US">Though eager to lend their support to social and political objectives they often deem worthwhile, many business leaders nonetheless find themselves in a quandary: How do I meet regulations to address positive social and environmental impact, but balance cost with shareholder demands for profits?</span></p> </div> <div style="clear:both;"> <p paraeid="{83d54b60-f658-4a17-a38c-04e06afdde39}{253}" paraid="1850359485"><span xml:lang="EN-US">Fortunately, businesses can operate both competitively and conscientiously by embracing digital technologies whose reach is no less&nbsp;</span>expansive&nbsp;than even the most complex&nbsp;<span xml:lang="EN-US">multilateral pact</span><span xml:lang="EN-US">.</span><span xml:lang="EN-US">&nbsp;Cloud-based Networks, for instance,</span>&nbsp;<span xml:lang="EN-US">provide an unprecedented level of <a href="http://outsourcemag.com/node/874" target="_blank">transparency</a> into the interconnected operations of millions of buyers and suppliers, opening a window into the procurement and production practices of one&rsquo;s trading partners. Armed with this newfound visibility, organizations can foster real-time collaboration with suppliers, diversify their available sources of raw materials, anticipate and iron out bottlenecks before they arise, mitigate <a href="http://outsourcemag.com/to-focus-on-sustainability-apply-a-risk-lens-in-your-supply-chains" target="_blank">third-party risk</a>, and fuel mutually beneficial innovations. In addition, digital networks strengthen the ability of participants to ensure compliance across the supply chain. After all, it&rsquo;s not only governments that seek to hold businesses accountable to socially responsible practices. Customers and shareholders increasingly demand it too. They seek assurance that the brands they support have the governance mechanisms in place to root out forced labor from the supply chain, ensure responsible&nbsp;</span><span xml:lang="EN-US">stewardship of the environment, safeguard personally identifiable information, include women- and minority-owned firms among their suppliers</span><span xml:lang="EN-US">&nbsp;and pay women and men equally. In fact, digital networks with connected data that can be mined to extract hundreds of responsible and ethical criteria on which to evaluate one&rsquo;s current or potential trading partners,&nbsp;</span><span xml:lang="EN-US">are now&nbsp;</span><span xml:lang="EN-US">accomplishing in nanoseconds what once required countless hours of legwork.&nbsp;&nbsp;</span></p> </div> <div style="clear:both;"> <p paraeid="{99ad995d-e30c-4132-a95c-d9b841d31487}{22}" paraid="827709239"><span xml:lang="EN-US">The challenge facing business isn&rsquo;t so much that human monitoring of compliance is expensive. It&rsquo;s that as international compliance requirements have multiplied in recent years, human eyes and ears are no longer sufficient to the task. Consider farming, where the advent of&nbsp;</span><a href="https://www.forbes.com/sites/jenniferhicks/2018/04/30/why-precision-agriculture-will-change-how-food-is-produced/" rel="noreferrer" target="_blank"><span xml:lang="EN-US">precision agriculture</span></a><span xml:lang="EN-US">&nbsp;is reshaping the way we source, sustain and ship our food. As the world&rsquo;s population expands, its supply of arable land and potable water remains largely unchanged. At the same time, nearly one-third of crops spoil before reaching people &mdash; nearly a billion of whom suffer from hunger. Fortunately, technology is beginning to narrow these gaping inefficiencies through the use of drones, radio-frequency chips, autonomous tractors and Internet-of-Things-enabled sensors. Thanks to these advances, farmers can fine-tune their yield to meet demand while steering clear of pesticides associated with environmental damage, suppliers linked with human trafficking, lenders charged with sanctions-busting financial practices</span><span xml:lang="EN-US">&nbsp;and partners linked&nbsp;</span><span xml:lang="EN-US">to</span>&nbsp;<span xml:lang="EN-US">flouting protections of endangered species.</span></p> </div> <div style="clear:both;"> <p paraeid="{99ad995d-e30c-4132-a95c-d9b841d31487}{41}" paraid="1160653537"><span xml:lang="EN-US">Through digital networks, the farmer &mdash; or, for that matter, any businessperson &mdash; can harvest value extending well beyond that traditionally measured by financial statements and operating ratios. He or she can reap the bounty of diversity and inclusion. As noted&nbsp;</span><span xml:lang="EN-US">previous</span><span xml:lang="EN-US">ly</span><span xml:lang="EN-US">, digital networks expose businesses to a broad array of suppliers reflecting the spectrum of human diversity, equipping historically underrepresented groups with equal access to the marketplace for their goods and services. In doing so, technology empowers procurement leaders to effect meaningful change not only for their business but for the world around them</span><span xml:lang="EN-US">.&nbsp;</span><span xml:lang="EN-US">Shared data planes, combined with business networks, also help avoid redundancy by leveraging collected data once. In addition, using a shared model within a sector or region can decrease supplier fatigue by reducing repeat assessment and information requests and, when audited, generate shared knowledge.</span></p> </div> <div style="clear:both;"> <p paraeid="{99ad995d-e30c-4132-a95c-d9b841d31487}{62}" paraid="389005740"><span xml:lang="EN-US">In my next article, I will interview peers in procurement technology to gauge their thoughts on how business leaders can further enhance transparency, traceability and governance within the supply chain. We will explore responsible and trusted data usage.</span><span xml:lang="EN-US">&nbsp;After all, formal agreements among nations &mdash;&nbsp;</span><span xml:lang="EN-US">while extremely important &mdash; can only go so far to make the world a more ethical place to do business. They are a starting point, not a substitute. Ultimately, every procurement professional must draw on his or her own deeply rooted values, ideally reinforced by those of the organization on whose behalf they make key decisions, to make business more ethical, more accessible and more equitable for people everywhere.</span></p> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/third-party-risk-management" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Third Party Risk Management</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/governance" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Governance</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/cost" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Cost</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sustainable-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sustainable Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/ethical-sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Ethical Sourcing</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Balancing Costs with Conscience - Future of Sourcing" addthis:url="https://www.futureofsourcing.com/balancing-costs-with-conscience"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 21 Jun 2018 17:19:59 +0000 Padmini Ranganathan 1194 at https://www.futureofsourcing.com https://www.futureofsourcing.com/balancing-costs-with-conscience#comments