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3 steps to elevate your procurement with responsible purchasing
Integrating responsible purchasing into procurement drives sustainable growth and meaningful impact.
Procurement is about more than just cutting costs. It has become a pivotal part of achieving broader organisational goals, particularly those related to responsible purchasing. For procurement professionals, the focus has shifted towards building a more sustainable supply chain. By integrating responsible purchasing into procurement strategies, organisations can achieve improved financial performance and foster a meaningful impact on society and the environment. Let's explore how you can effectively elevate your procurement strategy by incorporating responsible purchasing for smart business buying.
1. Start with your data and tidy up supplier lists
Before making any changes, it's important to understand your current supplier landscape. Conduct a comprehensive audit of your suppliers to evaluate their sustainability credentials, compliance, and impact. This step not only identifies areas for improvement but also ensures you have a clear view of your starting point, allowing for more strategic decision-making moving forward. By taking the time to understand your suppliers' practices, you can align your procurement strategy with your organisation's sustainability goals and values.
Tip: According to Gartner, 80% of executives agree that sustainability initiatives have reduced costs during disruptions. Incorporating training helps sustain these efforts by empowering employees with the necessary knowledge and skills.
2. Bring in stakeholders early and offer training
Successful integration of responsible purchasing requires buy-in from all levels of the business. Engage stakeholders early in the process to align goals and expectations; this builds trust and helps everyone stay focused on the organisation's commitment to responsible purchasing goals. Offering comprehensive training sessions is a key part of this process, as it equips employees with the necessary knowledge and tools to understand their specific roles in meeting responsible purchasing objectives.
“We’ve increased our diversity spend approximately 25%. We love that we have the ability to support our local vendors or other small businesses. I don’t have to go out and do the research myself. It’s all right there provided by Amazon Business."
— Jack McCarty, Senior VP of Sales and Marketing for Pacifica Senior Living
3. Build strong relationships with suppliers
Eighty-six percent of executives see sustainability as an investment which protects their business from disruptions. Incorporating training helps sustain these efforts by empowering employees with the necessary knowledge and skills.
“I would recommend Amazon Business. It's helping Nottingham Trent University to support sustainable procurement and help us meet our net zero carbon goals to be net zero by 2040.”
— Claire Davies, Sustainable Procurement Manager, Nottingham Trent University
Integrating responsible purchasing strategies into procurement practices has become an important element for businesses striving to succeed in today’s competitive landscape. By tackling challenges head-on, engaging stakeholders early, and cultivating strong supplier relationships, procurement professionals can create a substantial responsible purchasing impact. To enhance your organisation’s responsible purchasing efforts, begin by creating supplier lists, establishing measurable goals, and nurturing partnerships. This approach will enable you to make a meaningful difference within your business and beyond.
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