Procurement is nestled in all areas of business and is one of the key areas in which organisations can drive real environmental and social change. Understanding procurement with purpose can open up organisations to new ways of managing risk, diversifying their procurement processes, supporting environmental, social and governance (ESG), and protecting the planet.
What is green procurement?
Until recent years, procurement has been no more than an afterthought for many organisations. Driven by a global pandemic and the imminent threat of climate change—as well as companies’ corporate social responsibilities—procurement is now at the forefront of supply chain processes and groups are now seeing how corporate sustainability can be achieved through procurement. Green procurement helps organisations to decarbonise their supply chains and encourage sustainable sourcing.
Many organisations veer away from green procurement principles due to the potential cost implications of responsible product sourcing and supplier transparency. However, this is not the case and we can see this from as far back as 2011 when 50% of large businesses found that costs were reduced as a result of supply chain carbon reduction. Around 25% of their suppliers also benefited from these changes.
This does not mean that supplier management is a simple task, but utilising effective supplier management tools can help accelerate sustainable procurement principles. Applications of big data and supplier scorecards provide valuable insights to form the basis of green procurement decisions.
Learn more about procurement with purpose
With expertise from the likes of JAGGAER and other industry experts, thought leaders, analysts and JAGGAER customers, the ‘Procurement with Purpose: Protecting People, the Planet and Profit’ webinars complete a great web series to learn more about sustainable procurement.
Hear from Dawn Andre, Executive Vice President of Product Management at JAGGAER; Michele Hamill, Chief Human Resources Officer; Georg Rösch, Vice President of Product Management; and many more as they delve into some of the key areas where businesses want to make a significant change and how procurement with purpose can open up new opportunities to improve supplier transparency concerning emissions, cultural diversity and ESG, as well as managing risk.
To find out more and sign up for the web series, click here.
For more information on sustainable procurement, check out the JAGGAER website.