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In the last few years, there has been an increased focus on sustainability in the business world. This is especially true for procurement—sustainable procurement is a rapidly growing field that more and more businesses are turning to in order to reduce their environmental impact. But what exactly is sustainable procurement? Let’s take a look.

 

What Is Sustainable Procurement?

Sustainable procurement is the practice of purchasing goods and services from suppliers who are committed to reducing their environmental impact. It includes both direct (e.g., raw materials) and indirect (e.g., shipping services) purchases, with the ultimate goal being to minimise waste and maximise efficiency throughout the entire supply chain.

 

The Benefits of Sustainable Procurement

For businesses, there are many benefits associated with sustainable procurement practices. For example, by sourcing products from environmentally friendly suppliers, businesses can not only reduce their own carbon footprint but also save money in the long run by using fewer natural resources and avoiding costly regulations or fines related to non-compliance. Additionally, sustainable procurement can help companies build strong relationships with suppliers who share similar values—this can lead to better communication and collaboration between buyers and sellers throughout the process.

 

How Do You Implement Sustainable Procurement?

The first step towards implementing sustainable procurement practices is understanding your company’s current supply chain processes and identifying potential areas for improvement. Companies should then conduct an audit of their existing suppliers/vendors and assess whether they meet all relevant environmental standards outlined by governing bodies such as ISO 14001 or EU Eco-Management & Audit Scheme (EMAS). Finally, companies should create a plan for managing these standards going forward—this could include setting goals for reducing emissions or waste, establishing protocols for supplier audits, etc.—and invest in technologies like e-procurement software to help them track progress towards these goals over time.

 

Sustainable procurement is quickly becoming a key component of any successful business strategy as companies strive to reduce their environmental impact while still meeting customer demands. By understanding what sustainable procurement is, assessing your existing vendors/suppliers against relevant standards, setting goals for reduction efforts over time, and investing in technology to monitor progress on those goals, your business can ensure that its supply chain is operating as sustainably as possible so that you can continue delivering value to customers while doing good for our planet at the same time!