Sustainable procurement has been introduced to a public and private organization for decades and it has now become a “must have” key element to integrate in business strategy for company competitive advantages and sustainable development.
The survey conducted by EcoVadis and HEC about the results attribute to Sustainable Procurement program showed 76% of the procurement leader acknowledged that adopting sustainable procurement contribute to improved brand reputation. Barometer author cited “consumers are largely driving corporate demand for sustainability and quality produced products”. Sustainable procurement undoubtedly gives a positive impact on company revenue growth and protecting brand reputation in the long run.
Priorities for Sustainable Procurement
The chart below shows there is a sharp increase of compliance moving up to 28% from 27% to 55%, it has overtaken risk reduction which gained 11% based on 2013 vs 2017 result. The survey outcome shows that compliance, risk reduction and cost savings remain as the main priorities when developing organization business strategy and procurement strategy. The question on how to implement it together successfully and produce the desired result is a challenge for the corporate leader.