“ THE FOUNDATIONS OF RESPONSIBLE SOURCING AND SUPPLY CHAIN RESILIENCE ARE VERY CLOSELY RELATED ”
SUSTAINABILTY
“ THE FOUNDATIONS OF RESPONSIBLE SOURCING AND SUPPLY CHAIN RESILIENCE ARE VERY CLOSELY RELATED ”
JONATHAN LAVERENTZ HEAD OF DIGITAL INNOVATION , TRADESHIFT , INC
businesses that ignore the principles of responsible sourcing simply won ’ t survive in a world where volatility and disruption are norms .”
How can organisations be more responsible in their sourcing ? With procurement and supply chains being best placed to enable the wider organisation to source responsibly , Costas Xyloyiannis , CEO and co-founder of HICX , emphasises that “ they are likely to be the only teams with the remit and skill to deliver on a responsible sourcing agenda .”
To be more responsible , Xyloyiannis explains : “ In the first instance , organisations need to know who their suppliers are . For manufacturers with large , complex supply chains , this is a major challenge . So the first step is to establish visibility .”
To achieve this , organisations need to create a single source of truth in supplier data , by centralising supplier data management and restricting access to a single-entry point . “ Good data enables transparency ,” says Xyloyiannis .
“ From this vantage point , organisations can remove operational friction to offer suppliers a positive experience ,” he adds . “ With a solid data foundation and positive supplier experience in place , procurement can receive better supplier innovation , be more compliant and drive more meaningful sustainability programmes .”
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