STRATEGIC SOURCING
the strategic-sourcing function is following suit . Sourcing functions will continue to ramp up their climate commitments , such as green steel , recycled aluminium , and recycled plastic .
“ The message is loud and clear ,” says Bhatia , “ you need to have the capabilities to formalise and monetise loads of internal ( ERP , spend , PO , contracts ) as well as external ( market , suppliers , costs ) data . This capability can be internally developed or outsourced to an expert , and will form the foundation to move forward on the right path .
“ If organisations have already achieved that , then the next priority is to have systems that help you prepare for volatilities , such as fluctuating raw material and commodity prices , and targets related to green sourcing , scope 3 emissions reduction , and greener supply chains .”
“ You need to have the capabilities to formalise and monetise loads of internal ( ERP , spend , PO , contracts ) as well as external ( market , suppliers , costs ) data ”
TARUN BHATIA , HEAD OF GLOBAL PROCUREMENT PRACTICE , EVALUESERVE procurementmag . com 51