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The Point

"The Point" is written by BMP Editor Kelly Barner as well as a diverse group of guest contributors.

Data & Socially Responsible Procurement

CSR is No Longer an Option . . .

In an evolving landscape of regulations, social values, and consumer preferences, the Triple Bottom Line has become an essential framework of business design. The concept underpins Corporate Social Responsibility (CSR) by asserting that growth and profitability should not have negative social and environmental impacts. CSR is becoming an imperative for success, one that procurement plays a central role in. Socially responsible procurement aims to ensure that suppliers are adhering to quality practices in key areas such as diversity and inclusion, environmental protection, health and safety, and human rights.

Adherence to the Triple Bottom Line is more than just the right thing to do; it also comes with a number of competitive business advantages. In particular, it reduces the risk of both supply chain disruption and negative publicity.

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Recommended Procurement Webinars December 3-7: Intelligence, AI, Big Data, Diversity, and Supply Chain Finance

I can’t even believe it is December already. And if you thought your personal schedule was out of control, you should look at this weeks’ calendar!! The November ISM-New York Report on Business will be released on Tuesday, December 4th at 9:45am ET and Public Spend Forum is hosting a Happy Hour in Arlington, VA that same evening. If you are planning your webinar schedule beyond this week, I recommend ‘Understand the Risk Big Picture — It Doesn't Stop at Supplier Risk’ from riskmethods’ Bill DiMartino and Peter Smith on December 13th at 9am ET).

Right now it still looks like December 10-14 will be the last week of webinar recommendations for this year. I’ll know for sure next week, but I’ll absolutely start them again on January 7th.

BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.

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Making the Case for a More Diverse Supply Chain Part II – Supplier Evaluation

In the first part of this two-part series, I established the reasoning behind establishing a diverse supply chain in the nontraditional sense. Emphasis on maintaining a supply chain that is diverse in geographical location, capabilities, and overall corporate values is vital in maintaining supply chain resiliency, sustainability, and adaptability.  To achieve a supplier mix that fits these goals, the right questions must be asked during an internal supplier rationalization process, overtaking the traditional values of an RFx.

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Making the Case for a More Diverse Supply Chain

Supplier diversity is a concept with multiple definitions.  Most commonly, a supplier diversity program focuses on the utilization of women owned, minority owned, and else certified diverse businesses within your supply base.  There is, however, another interpretation of supplier diversity – a diversity of geographical location, sourcing practices, and overall organizational structure.  Evaluating these factors in a meaningful way when evaluating suppliers can be an important factor in managing supply chain resiliency, sustainability, and adaptability.

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