Nearly 50% believe technology provides greater visibility of supplier sustainability performance
- Lizzie Black
- September 23, 2022
Building a robust sustainability programme allows organisations to deliver new value.
Technology continues to be at the forefront of organisations’ operations as sustainability initiatives and programmes gain more energy and investment.
IntegrityNext’s ‘Building a Procurement Sustainability programme’ incorporates the responses of organisations working across environmental, human rights, labour relations, fair business practice and product compliance. It focuses on how they are building sustainability programmes and how they are improving conditions in their supply chains to provide additional value to their business.
How can companies achieve sustainable procurement initiatives?
Leading companies are working with suppliers and maximising their resources to unlock cost savings and embed sustainability. One of the key factors is technology, something commonly mentioned by companies. Although some companies still don’t use technology for some activities, overall they do to carry out auditing and planning for instance, which is a growing trend as investment in powerful digital solutions continues.
“Companies need to gain transparency of sustainability across their entire supplier portfolio. Technology is a key enabler for this, because it can identify critical suppliers and help purchasing teams decide where to invest their resources.”
Nick Heine, Head of Sustainability and Compliance, IntegrityNext
How to achieve Procurement sustainability
There is no one sole way of tackling Scope 3 emissions and other sustainability issues for example, nor an instant fix. Digital transformation through partnerships, with digital solutions as an example, provides a greater foundation for all parties. Implementing solutions focused on unlocking savings and monitoring supply chain activity can assess a company and its suppliers’ impact on sustainability criteria and procurement stability.
‘44% use technology to gain greater visibility of suppliers’ sustainability performance’
Working with Clariant on Procurement Sustainability
IntegrityNext shares how it has worked with chemical provider Clariant on effective risk management sustainability. Clariant is an innovative adopter, benefitting from better visibility, agility and new revenue opportunities from its supply chain by focusing on sustainable activities.
Sustainability is a clear competitive advantage when seeking new business and technology has aided that. It helps monitor processes at a scalable level when incorporated with data, often beyond human capabilities.
“Our focus on sustainability allows us to win new business. Technology platforms give us the visibility we need to do this by providing transparency in our supply chain.”
Markus Mirgeler, Head of Global Procurement Services, Clarian
Sustainability will continue to be an important initiative and investment for companies. As they become more aware of their impact on ‘doing the right thing’ for people and the planet, procurement teams will optimise their resources to work with suppliers to improve conditions and opportunities in their supply chains.
(0) comments