Embrace & Empower Supplier Diversity listed as one of the 5 Benefits to adding Sustainaibility Measures in your Contracts. In this article from Future of Sourcing – 5 Benefits to Adding Sustainability Measures in Your Contracts (and How to Get Started) following 5 Benefits are listed;
- Strengthened Long-Term Business Strategy
- Proactive Risk Management and Contingency Planning
- Increased Brand Power and Organizational Citizenship
- End-to-End Supply Chain Transparency
- Embrace and Empower Supplier Diversity
In Supplier Diversity there is no one-size-fits-all approach. Every organization varies, with distinct goals and scope. This means that just because one supplier worked for an opportunity does not mean it will work for the next.
Welcoming new suppliers also brings a diversity of thought to the table. You can tap into their unique insights and leverage a strategic partner you may not have had before. Keeping your doors open in the discovery process leads to a higher return on investment (ROI) from their procurement, lowers operating costs and lowers supply chain risk.
The bottom line is that doing good is good for business. The hurdles of sustainability are not as daunting as it seems.
Integrating sustainability into your contracts creates actionable, tangible and measurable impact.
Check out this great tool with a library of sustainable procurement ideas along with step-by-step walk-throughs that connect the United Nations Sustainability Development Goals (UNSDGs) to popular spend categories.