Reshape and Refresh Your Supply Chain with Supplier Sustainability Management Solutions

These days, supply chain sustainability is not only dependent on reputational factors, but also the financial aspects that may affect your suppliers. The latest GRI G4 guidelines emphasised the growing focus on supply chain performance reporting, too, making it more essential for chief procurement officers in your organisation to ensure and maintain a proactive approach in that direction. Procurement organisations typically issue sustainable procurement guidelines, enlisting expectations they have on suppliers based on common parameters for sustainability to serve as a screener when choosing and before taking in a supplier. However, to ensure sustainable procurement, your organisation must do more than that and focus on a more in-depth assessment of every supplier. This is where a supplier sustainability management solution can help.

Effective supplier sustainability management encourages thorough and constant assessments on suppliers. Likewise, it encourages organisations to engage suppliers on sustainability issues that may affect the way they run their business and deal with the organisation. That way, suppliers can continuously improve their performance and develop better relationships with your business. Procurement intelligence analysts and specialists follow a comprehensive framework to assess the sustainability of suppliers across geographies and industries. This way, you can have a supplier sustainability management solution that can effectively refresh and reshape your supply chain and how you deal with your supplier.

A good sustainability assessment framework should check the supplier’s compliance with standards and regulations related to governance, social, and environmental parameters. It uses best-in-class approach to determine the efficacy of policies, initiatives, and strategies your suppliers are taking to enhance their sustainability objectives. For that to work, a supplier sustainability management solution must be tailored to the procurement system of your organisation. That way, you can rely on custom sustainability assessment reports that can help you uncover the critical areas where a supplier may need to improve.