Environmental and social governance (ESG)

7 Reasons Why India and Southeast Asia are Promising Sourcing Alternatives to China

Posted: 08/08/2022 - 09:00
Author: Aditi Pany
Buyers can no longer depend on just one country for all their sourcing needs.

The south and southeast regions of Asia comprising nearly 19 countries, including India, Indonesia, Vietnam and Thailand among others, have a rich history of production and trade going back thousands of years. In fact, historians believe that the world’s first long distance trade occurred between Mesopotamia and the Indus Valley (Indian subcontinent) in 3,000 BC, centered around textiles, spices, jewelry and artifacts.

How Procurement Teams Can Diversify Suppliers And Manage Risk

Posted: 07/29/2022 - 09:00
Author: Lara Hodgson
Procurement officers have an important role in helping minority-owned suppliers overcome barriers to accessing contracts through smart risk management policies.

Over the past few years, large enterprises have made incremental progress toward a more diverse supplier ecosystem, but we’re still not there. A recent survey of 100 large global companies by The Hackett Group found these companies intend to increase spending on diverse suppliers by over 50% during the next three years. While these commitments are a start, DE&I initiatives are empty without a plan.

Back to the Future: Intelligent Supply Chain Planning

Posted: 07/27/2022 - 09:00
Author: Dave Food
Factors that businesses need to take into account when overhauling their own supply chain management processes.

The recent domino effect of disruptions, such as Brexit, the pandemic and the war in Ukraine, has inevitably resulted in a huge strain on business’ supply chains. It’s a difficult landscape to navigate, but disruption is a fundamental part of the supply chain and organizations should be taking measures to mitigate these challenges.

ESG Risk Assurance – An Opportunity for Transparency and Trust

Posted: 05/11/2022 - 09:00
Author: Heather Moore
Building trust in ESG practices is complicated by the lack of transparency and consistency in reporting practices, the pace of change in reporting requirements, and huge regional and corporate variations.

Customers, employees and investors are increasingly putting ESG front and center when making decisions about the companies they engage with. Rising shareholder and consumer activism, as well as new forms of regulation, mean that it is no longer enough to simply state good intentions. The challenge is to prove to stakeholders that policies and initiatives are translating into meaningful action and impact.

Sustainability Goals Will Be Driven by Innovation

Posted: 04/15/2022 - 09:00
Author: Debbie Shakespeare
Action must be taken now, across businesses of all sizes, to reduce their carbon emissions and remove waste from the supply chain.

Consumer attitudes toward sustainability have been intensified by the pandemic. Global lockdowns caused a temporary reduction of industry and transport, and consumers noticed the benefits this had on their environment. As such, the pandemic provided a reckoning moment and spurred hope for the future of the environment. Even as normal activity resumed in Q3 2020, these intentions to implement change remained.

Digital Environmental Health and Safety Services Market is Set for Further Growth

Posted: 04/06/2022 - 09:00
Author: Bill Pennington
Widespread corporate digitization, a focus on ESG and strategic pivots by leading consultancies to transform their service offerings with new technology is boosting the digital Environmental Health and Safety (EHS) services market.

The market for digital environmental health and safety (EHS) services has come through a period of uncertainty in the industrial world. Firms have struggled with the difficulties of the pandemic while trying to address pressing new priorities such as the climate crisis and the ESG boom.

Uncertainty in the industrial world has benefited EHS consultancies with last year seeing an increase in spend on EHS-focused digital technology implementation, EHS platform integration and data analytics services even though the COVID recession is still affecting budgets.

Leading Procurement’s Digital Transformation: Three Steps to Success

Posted: 03/11/2022 - 09:00
Author: Keith Hausmann
Globality CRO Keith Hausmann discusses how innovative technology can help procurement meet today’s biggest challenges, while increasing its influence through the power of “Performance Spending.”

In her book Trade wars, pandemics, and chaos: How digital procurement enables business success in a disordered world, Dr. Elouise Epstein, a digital futurist at Kearney, explains why most companies have historically been underwhelmed by the digitalization of procurement processes, noting that it hasn’t always delivered on the promise to empower people to move at speed, be more agile and work how they want.

Procurement’s Integral Role in Sustainability

Posted: 02/23/2022 - 09:00
Author: Tyler Higgins
Procurement is the gatekeeper when it comes to meeting your organization’s sustainability mission statement.

With floods, fires and failing supply chains increasing throughout 2021, we welcome another crisis to the center stage: climate change. The impacts of these disastrous events rippled across every industry and were felt by both consumers and suppliers, causing a major shift in how we do business.

It is not merely a question of if something can be manufactured or sourced, but it has become a question of how. Procurement plays a vital role in being the gatekeeper to procuring products and services without unnecessary depletion of natural resources!  

The Importance of Building and Maintaining a Visible, Sustainable Supply Chain

Posted: 02/11/2022 - 09:00
Author: Daniel Bachar
Supply chain sustainability is now a business priority among business executives, employees and consumers.

Increasingly, supply chain sustainability is becoming a key corporate goal as organizations aim to minimize environmental damage and positively influence the people and communities in which they live and do business. Sustainability refers to managing the environmental, social and economic impact of a business in way that reduces harm and benefits the world.

Why Surplus Asset Disposal Can be an Underrated Source of Revenue – and How Procurement Can Lead

Posted: 02/07/2022 - 09:00
Author: Elizabeth Maxted
Learn how procurement teams can implement new ways to capitalize on obsolete equipment and unused machinery.

The global supply chain has been stretched and disrupted like never before, putting a significant burden on shippers, manufacturers, retailers and consumers. Dealing with shortages of so many formerly abundant items has prompted many businesses to shift their focus to reusing merchandise and equipment.

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