How Technology can drive Sustainability in Sourcing & Procurement

Transparency is key in order to create sustainable sourcing practices that are based on. a solid sustainable business strategy...

Source smart and ethical, share the benefits and costs for sustainable production and be transparent for your customers

Properly managing all procurement activities not only keeps business operations running smoothly, it also saves natural resources. Sourcing and Procurement ensures that all items and services are properly acquired so that enterprise projects and processes can proceed efficiently and successfully. It already starts with the R&D process where companies should aim to focus on suppliers who have high environmental standards and focus on a sustainable ecological and fair business. Sourcing based on the companies sustainability strategy ensures that future products and services do support green standards, are impactful and cope with your customers’ expectations. Smart Technology plays a vital role in supporting purpose management in Sourcing & Procurement. Immersive Experience can support sourcing and procurement professionals with simulations on which material, parts or module interacts or fits best and can bring catalogues to life. It can help to visualize the ecological impact of a direct or indirect material. Machine Learning & Business Intelligence can help to support decision processes and can be used to discover patterns that influence sourcing activities that are really focused on the product and customer purpose. Data Intelligence provides the necessary information foundation for sustainable based sourcing and procurement that reflects social responsibilities. Automation & Robotics can help to optimize the Sourcing & Procurement process for direct and indirect material or services and can automatically map sustainable-driven demand to the best matching business partner (based on sustainable key metrics). Smart Integration & Connectivity is crucial in Sourcing & Procurement since it helps to connect all different business partners to the company’s and customers’ purpose.

🌎 Sourcing activities have a huge impact on the overall sustainability of products and services

🌎 Modularity into the product design process in order to optimize usage, maintenance and service of products can help to source greener and more responsible

🌎 Put the planet in the center of your sourcing activities and not only think about sourcing but also about how to handle potential waste (e.g. packaging...)

I believe it is time to revolutionize the way we do business. It is time for a Purpose-driven Wellbeing Economy. But to achieve this goal companies must speed up the adoption of sustainable sourcing practices. What do you think?