Knowledge Base
Without a clear procurement policy, employees may buy in different ways, use different suppliers, skip competition, accept poor contract terms, or create supplier commitments without the right approval. The result can be maverick spend, unclear accountability, supplier risk, weak documentation, and unnecessary cost.
In a global marketplace, responsible sourcing is more than just a “nice-to-have”; it’s essential. As a buyer in training, you might hear about the importance of ethical procurement, sustainability, and compliance, but where do these ideas come from, and how do they affect your day-to-day sourcing decisions? This is where the OECD Guidelines and OECD due diligence for…
Over the last few years, the procurement departments have undergone significant changes in terms of sustainability requirements for suppliers. Companies are now looking beyond traditional supplier criteria, such as cost and quality, and are prioritizing sustainability, ethical practices, and environmental responsibility. From an RFx (Request for Proposal, Request for Quotation, etc.) and procurement perspective, sustainability…
The United Nations Sustainable Development Goals (SDGs) are 17 goals, covering every triple bottom line (people, planet, prosperity) aspect of sustainability and help organizations drive Sustainable procurement. These Global Goals are broken into smaller targets that governments, corporations, and other organizations can pursue to meet the goals. Article written by Dr Aurora Dawn Benton.…
