in that onboarding process or within the contracting process .
The Heart-Led Consumer As we said , CLM doesn ’ t just make for a better supplier experience . Bulacan points out there are two other major stakeholders that you stand to win the hearts of .
“ There are two other stakeholders that come to mind when I think about this new way of approaching procurement and supply chain . First , let ’ s talk about the end consumer . If I look at Gen Z and Millennials , they are making buying choices through a lens of social impact and will drive their spend to companies that align to those shared values .
“ I was just recently speaking to an executive who observed that this generation doesn ’ t just “ give at the end of the year ”, they give every day based on their buying choices . For instance , they ' ve bought this watch knowing the company has ethically and sustainably sourced the materials to create it , or they buy these pair of socks because they know that the business will provide a pair of socks to the homeless in return . This generation has a different mindset about how people give and support communities and make a social impact . They ' re willing to pay premiums to meet those social impact goals , whether it is to support women-owned businesses , blackowned businesses , businesses with LGBTQ + or veterans .
“ I think this changing consumer sentiment is one that procurement and supply chain needs to be able to meet . And so organisations need to be able to show performance and alignment through data , and they can capture and mine that data through technologies like CLM .
The Talent War In order to remain competitive , businesses must concern themselves with attracting and retaining top talent . “ There ’ s a war for top talent across industries , and it ’ s
70 July 2021