SUSTAINABILITY
WATCH
NOW
of environmental impact , as data is brought together from all tiers of the supply chain .
“ While AI technology is advancing rapidly and has the potential to bring significant benefits , the quality of output remains highly dependent on input data quality ,” says Saric . “ Procurement leaders need a solid data foundation , which requires significant investments in technology , data infrastructure , and talent .”
With the public and customers becoming increasingly engaged and inquisitive about environmental credentials , the value of transparency is becoming ever more apparent , as more data becomes available .
“ Something that is already picking up is the mandated disclosure of environmental data .,” says Mehta . “ Reporting data on CO2 emissions and environmental risk will become mandatory in more countries , like how the food industry now requires restaurants to divulge the calories of food . Increasing policy and legal requirements will help to hold suppliers accountable for their ESG performance .”
The ultimate benefits of achieving transparency through the procurement process are two-fold for both the environment , and for the business as a whole if performed correctly . As Laprée says , it is the only way to get a proper understanding of the value chain .
“ A French philosopher once said that you can only express properly what you understand properly ,” says Laprée . “ Transparency will free you to understand what you are doing , and by extension , have the tools and data to monitor what you are doing .” procurementmag . com 149