The core concept of sustainable sourcing has its origins in the continuous evolution and growth we see all around us today. There is no denying that the global landscape is changing fast, and this transformation is taking business practices right along for the ride. As population centers rapidly expand in emerging markets, targeting the right spots is becoming a top priority for all companies. This is because in order to continually have access to new resources at competitive production costs, procurement teams need to redefine the vision for the future.

1. SustainableSourcing
TheChallenges&Benefits

2. 1.AssuringSustainablePerformance
Reliability is something that corporations have to spend
years building, and a single disruption in the supply chain can
erase all that hard work in an instant.
One of the major advantages of sustainable sourcing is the
assurance of performance in the long run. This in turn serves
to drive success by helping to leverage sourcing and
procurement functions.
Another major advantage of sustainable
sourcing is a cost reduction through a
combination of factors.
This includes using business
intelligence, spend analysis data, and
other metrics including transportation,
storage, and packaging scores.
2.NotablECostReduction

3. 3.ImprovedRisk
Management
Successfully navigating through a minefield
of risks can be made much easier by
adopting sustainable procurement
practices.
By helping improve and build upon supplier
relationships, sustainable sourcing can
contribute towards reducing the liability for
companies.
It also helps assure compliance with
relevant regulations that may affect the
business and products being sourced.

4. 4.CreatingValue
In continuation of assuring
sustained performance in the
market, sustainable sourcing
also helps create value.
Rating agencies and reviewers
take into account the overall
effectiveness of procurement
practices for businesses. A
positive evaluation result can
work wonders and help drive up
sales figures.
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5.ContractualCompliance
An added benefit of sustainable
sourcing is assured contractual
compliance with no risk of violations.
It also ensures any legislative changes
or restrictions do not have a negative
impact on business operations.