What does doing nothing truly mean for your suppliers and your sustainability strategy?
In today’s world, organisations increasingly recognise the importance of sustainability in their operations, not just for their bottom line but also for the future of our planet and society. One of the key areas where organisations can make a significant impact is through engaging with their suppliers to establish and maintain favourable partnerships that promote sustainability. Procurement has evolved from the traditional realm of contract negotiation and purchasing to a strategic effort that contributes towards creating a positive impact on the environment and society.
While many organisations have set impressive sustainability targets, there is a growing concern that not enough action is being taken to address these challenges. The situation is complex, and many organisations may not know where to begin. However, taking action is crucial, and effective engagement with the supply chain is critical to integrating sustainability practices and mitigating risks.
Failing to take action may result in severe consequences such as reputational damage, supply chain disruptions, and increased costs due to regulatory fines and penalties. Moreover, the long-term impact on the planet and society’s future could be detrimental, including environmental degradation, social inequality, and economic instability. Therefore, organisations must recognise the significance of this issue and take immediate action towards making a positive impact.
At Supplier Day, we specialise in helping Procurement engage their suppliers around key topics like sustainability. Our unique approach provides a comprehensive process to enable efficient alignment among internal teams regarding commitments and visions. We work with your teams to better understand their priorities, align on a plan to leverage the supplier ecosystems, and promote alignment and innovation with suppliers towards strategic goals. Our team understands that initiating this process can be challenging, which is why we are here to assist you.
Our methodology consists of first establishing a common vision with internal teams to ensure agreement on strategic commitments, analysing your supplier network to identify potential risks or opportunities, and prioritising initiatives that align with your strategic objectives. Subsequently, we collaborate with you to formulate a supplier brand that fosters sustainable practices and maintain ongoing communication to ensure that we are on the same page and making progress towards shared objectives.
Engaging with suppliers around sustainability is critical for organisations to establish and maintain favourable partnerships that promote sustainability practices. Supplier Day provides a comprehensive process to enable efficient alignment among internal teams and suppliers towards strategic goals. Taking action towards sustainability is essential, and our team is here to assist you in making a positive impact on the environment and society’s future.
If you’d like to discuss more on the true cost of doing nothing for both your suppliers and your sustainability strategies, book a meeting with our Sales Team here.