Win 'prizes' by buying responsibly

Supply Management,  Feb 28, 2008  

• E-mail
• Print
• Link

Higher brand and corporate trust, competitive advantage and more productive relationships with customers, stakeholders and suppliers are among the "prizes" that can be achieved by responsible procurement.

This is according to Graham Collins, director of ProQuest Consulting. He was guest speaker at last month's Beds and Herts branch event where he discussed the "triple bottom-line" impacts of responsible procurement - social, economic and environmental - and identified the challenges and opportunities for purchasing and supply professionals. Responsible procurement could also mean lower costs, lower risk and less supply chain vulnerability.

Collins said the AT Kearney survey of Fortune 100 companies in 2007 had identified sustainability as a "top-line" opportunity to enhance brand promises. "Increased pressure from consumers, investors, regulators and government means that sustainability is a change agenda that cannot be ignored."

Mike Jones, branch chair, said: "It seemed that, as buyers, we felt more at ease with 'lower costs' rather than 'better impacts' and liked Graham's example of the high street bank that raised the hourly rate of its outsourced cleaning staff while lowering its total costs. Perhaps we should be prepared to be explicitly less hard-nosed and set out the moral principles on which we do business."

Copyright Chartered Institute of Purchasing & Supply Feb 28, 2008
Provided by ProQuest Information and Learning Company. All rights Reserved