Many 2023 Procurement Outlook & Trend articles were published at the beginning of the year. Along with #datamanagement and #supplychainrisk, #esg was a topic most often mentioned as key areas for consideration in 2023. Data Management & risk avoidance are important in all procurement areas, but #supplierdiversity helps in the successful implementation of ESG measures. Check also my previous blog(s), Supplier Diversity & Inclusion is part of a company’s ESG solution.
New Year Insights for the procurement solutions and services marketplace were recently published by expert tech and service providers in the markets by Spend Matters. Scoutbee’s CEO and Co-Founder Gregor Stühler mentioned in his insights that ”ESG & Diversity programs will be tested; ….. With AI-enabled solutions, procurement teams will be more likely to support diverse and sustainable suppliers and help everyone succeed, whether by paying these partners faster or by reducing non-imperative sourcing criteria.” The other expert insights on Spend Matters can be found here: https://spendmatters.com/2023/02/01/a-year-of-trade-offs/
The SIG GEP Outlook 2023 published, Delivering ESG Outcomes Through Supply Chain Operations is one of the 7 Leadership Themes; Integrating sustainability goals into supply chain operations must be a data-driven exercise. Leaders need a
comprehensive understanding of baseline data across the value chain in terms of current-state emissions, supplier diversity, and working conditions to set targets and track KPIs…..
Also Logistics Viewpoint mentioned ESG as one of the challenges in 2023; ESG priorities remain top of the executive and board agenda: ESG (Environmental, Social, and Governance) remains critical with shareholder and employee activism, tightening regulation, and consumer preferences. … Read the whole article here: https://logisticsviewpoints.com/2023/01/31/5-supply-chain-predictions-for-2023/
In 2021, a survey from JAGGAER-TealBook revealed the main obstacles hindering progress in Supplier Diversity. In this survey, supplier diversity was mentioned as a priority for 70% of organizations around the world. However, most organizations have in 2021 not started, or have only just started, on their journey towards greater supplier diversity and inclusiveness. The main obstacles hindering progress were difficulty identifying suppliers that are owned or managed by women and minority-owned business enterprises (MWBEs) that also meet procurement criteria, and a lack of data and insights into supplier diversity.
Unfortunately, this is still the case today. I am counting on your support to change this and make supplier diversity and inclusion part of every company’s sourcing strategy.
If you need assistance in creating a baseline for your supplier base or starting your supplier diversity journey, reach out.