Supply chain News and trends

The turn of the new decade saw the rise of ambitious sustainability goals. Products with sustainability labels received increased traction. Around the same time, social media influencers were voicing their support for ethical work practices and security for frontline supply chain workers. As a result, sustainable procurement became a priority in enterprise strategic agendas. But in 2020, when Covid-19 rocked the world economy, new challenges emerged.

The impact of the pandemic on supply chains was disruptive. Many feared that the crisis would dampen growing enthusiasm to invest in sustainable procurement practices. But it did the just the opposite.

Via EcoVadis

While companies are increasingly realizing the benefits of sustainable procurement, many procurement leaders say their companies still need to do more to support the purchasing of goods and services that don't harm the environment, society, or the economy.

Via EcoVadis

Jacques Schramm, chair of ISO/PC 277, the committee that developed the standard, said the risks of not understanding and managing practices throughout the whole supply chain were great. “At best, poor quality products or ruptures of stock can result. At worst, disasters like the Rana Plaza [collapse] in Bangladesh in 2013 can happen. Sustainable procurement helps to minimise risks such as these by encouraging buyers and suppliers to work closely together for a better result for all.”

Via EcoVadis

In 2014, the number of companies dedicating sustainability resources to supply chain efforts grew 10%, according to GreenBiz research. In 2015, that number jumped to 26%, showing significant growth in the last two years."

Via EcoVadis