On October 19th, the Future of Sourcing Awards will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.
Can you outline why your team embarked on this project and the problem that needed to be solved?
How were things done originally and what was the inspiration to innovate the process?
What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)
- Timeliness: With Supply Wisdom ESG, they now have instant access to always current ESG risk intelligence vs. quickly stale data from point-in-time ESG questionnaires
- Efficiency: With Supply Wisdom ESG, they now have instant access to an accurate and consolidated view of their supply chain’s ESG status vs. a burden to validate, review, analyze, and consolidate questionnaire responses
- Comprehensiveness: With Supply Wisdom ESG, they now have instant access to full-spectrum leading standards-based supplier and location ESG coverage vs. limited supplier ESG scope
How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?
What advice do you have for those who may want to implement this innovative approach in their own organizations?
- Timeliness - real-time intelligence vs. point-in-time, questionnaire-based solution
- Efficiency - instantly accessible always-current, accurate, and consolidated view of ESG status vs. a burden on internal teams to validate and consolidate
- Comprehensiveness - full-spectrum, leading standards-based ESG supplier and location coverage vs. limited supplier scope
How did your team assess the risks/potential for your third party management strategy?