June saw new industry announcements and technological advancements , from AI to sustainability , which are advancing the procurement sector globally
WRITTEN BY : LIBBY HARGREAVES
TRANSFORMING SUPPLIER RELATIONS : EVOLVING SRM TO SXM
SAINSBURY ’ S COMMITMENT TO ETHICAL COCOA SOURCING
Sainsbury ’ s is aiming for 100 % sustainable cocoa procurement by 2025 , by tackling human rights and environmental issues with traceability , collaboration and ethical sourcing . The business partnered with the World Cocoa Foundation to achieve this and believes it will send a clear market signal to bring about sector-wide change .
The shift from SRM to SXM represents business ’ approach to supplier relationships . SXM ensures a positive experience for all suppliers , regardless of strategic importance . A HICX survey of 100 senior procurement professionals found organisations neglect supply chain relationship management , focusing more on cash generation . In extending support to all suppliers , companies can gain a competitive edge .
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