LONDON–(BUSINESS WIRE)–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the steps to ensure supply chain sustainability.
Today, the responsibility of companies doesn’t just end with the sale of products. They have a greater role to play in the lifecycle of products and services. This makes it mandatory for them to ensure supply chain sustainability, maintain the integrity of the brand, and ensure the long-term viability of the business. Meeting compliance requirements and adhering to international principles for sustainable business conduct are a few other reasons to focus on supply chain sustainability journey.
At SpendEdge, we understand that creating better social, economic and environmental impacts is the need of the hour for businesses. Therefore, we have highlighted the key approaches that companies can adopt to ensure supply chain sustainability.
Steps to Ensure Supply Chain Sustainability
Scrutinize the supply chain
To ensure supply chain sustainability, companies must scrutinize the natural and human resources involved in the procurement process. They must analyze environmental, social, and economic issues and develop supply chain strategies to address risks. Building a set of performance indicators and identifying sustainability hot spots can also prove effective for companies looking to improve the supply chain.
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Align supply chain sustainability goals with global sustainability agenda
Most companies are aware of supply chain risks. But they face predicaments in navigating the way to reduce their impact. Considering scientists’ recommendations for sustainability impact to improve human well-being could help companies meet global targets and set aggressive carbon reduction targets. To know how you can extend sustainability policies into supply chains, get in touch with our experts now!
Consult with suppliers and stakeholders
Companies in the retail category hold tremendous power when it comes to purchasing. They can easily influence their suppliers’ business practices to reduce supply chain sustainability impact. Implementing codes of conduct and performing audits are a few of the ways that can support companies’ objectives of adopting sustainability programs.
To know in detail about the approaches that companies can adopt to ensure supply chain sustainability, read the complete article here!
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