Sustainable SourcingThe Challenges & Benefits

1. Assuring Sustainable PerformanceReliability is something that corporations have to spendyears building, and a single disruption in the supply chain canerase all that hard work in an instant.

One of the major advantages of sustainable sourcing is theassurance of performance in the long run. This in turn servesto drive success by helping to leverage sourcing andprocurement functions.

Another major advantage of sustainablesourcing is a cost reduction through acombination of factors.

This includes using businessintelligence, spend analysis data, andother metrics including transportation,storage, and packaging scores.

2. NotablE Cost Reduction

3. Improved RiskManagementSuccessfully navigating through a minefieldof risks can be made much easier byadopting sustainable procurementpractices.

By helping improve and build upon supplierrelationships, sustainable sourcing cancontribute towards reducing the liability forcompanies.

It also helps assure compliance withrelevant regulations that may affect thebusiness and products being sourced.

4. Creating ValueIn continuation of assuringsustained performance in themarket, sustainable sourcingalso helps create value.

Rating agencies and reviewerstake into account the overalleffectiveness of procurementpractices for businesses. Apositive evaluation result canwork wonders and help drive upsales figures.

Copyright © 2016 GoSourcing. All rights reserved.

5. Contractual ComplianceAn added benefit of sustainablesourcing is assured contractualcompliance with no risk of violations.

It also ensures any legislative changesor restrictions do not have a negativeimpact on business operations.