ETHICAL SOURCING
THE ROAD TO
SUCCESSFUL ETHICAL SOURCING STRATEGIES
How can procurement professionals navigate the complexities of balancing ethical sourcing with supply chain disruptions , profit , costs , and demand ?
WRITTEN BY : GEORGIA WILSON
Placing sustainability and responsibility at its core , ethical sourcing is a principle-led approach to supply chain management and the procurement of goods and services . It focuses on minimising an organisation ’ s environmental and social impact on communities across the supply chain , including fair treatment of workers and attention to their safety .
Challenges in today ’ s global landscape when it comes to ethical sourcing include gaining true supply chain visibility , blurred lines of responsibility between buyer and supplier , and rapidly increasing regulator pressure . “ There is also a feeling of urgency to get ahead of ethical sourcing before a non-compliance or issue arises in your supply chain , causing reputational and financial damage ,” says Gemma Thompson , Senior Consultant for Strategy and Growth at Proxima ( consulting firm ).
She adds that while ensuring that procurement is ethical in its sourcing comes with its own set of unique challenges ,
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