Procurement has a critical role to play in addressing sustainability issues. Research from Procurement Leaders suggests that supply chains account for 50-90% of a company’s environmental footprint. However, without a holistic view of interconnected supply chain data sources, transparency is still lacking. Businesses will need much deeper insight into their complex, multi-tiered supply chains if they want to drive meaningful impact.
Addressing sustainability issues has become a pressing issue for global businesses in a variety of sectors, with market pressures from consumers, investors, employees, and even NGOs increasing the urgency for greater supply chain transparency. Chief Procurement Officers have a great opportunity to take the lead in this transformation by quantifying supplier ESG impacts and driving sustainability initiatives forward in their own organizations.