Ivalua’s Post

Effectively embedding #sustainability into your procurement operations can help you build a resilient, responsible, connected #SupplyChain that minimizes environmental impact, promotes fair labor practices, and creates positive impact within your organization and the communities in which you operate. We leverage our Connected Enterprise approach to strategically implement technology solutions that deliver the maximum positive outcomes for our clients. An experienced service provider like us can enable you to successfully implement a winning #SustainableProcurement strategy. Read more in our new POV. https://bit.ly/3W6J1Qi #ConnectedEnterprise

The latest ProcureCon report dives deep into the strategies shaping a more sustainable future, and the findings are eye-opening! Here are some key takeaways for procurement leaders: 📊 Procurement has an emission data challenge: A whopping 56% of CPOs struggle with collecting and analyzing emissions data. This highlights the need for better tools and processes to capture accurate data. We can't manage what we don't measure, so let's prioritize robust data collection for a clearer emissions picture. ❗Keeping on top of ESG supplier risk The report emphasizes ongoing supplier assessments. Nearly half (47%) measure ESG risk quarterly. Regularly evaluating suppliers helps identify potential risks and ensures your supply chain remains sustainable. 🌍Regulations are the biggest challenge Staying informed of evolving regulations is the biggest challenge for CPOs (66%). Let's work together to share best practices and navigate the ever-changing regulatory landscape for a more sustainable future! Join the conversation! What are your biggest challenges in achieving sustainable procurement practices? Download your FREE copy here. 👇 #Procurement #ProcurementInsights #Insights

The latest ProcureCon report dives deep into the strategies shaping a more sustainable future, and the findings are eye-opening! Here are some key takeaways for procurement leaders: 📊 Procurement has an emission data challenge: A whopping 56% of CPOs struggle with collecting and analysing emissions data. This highlights the need for better tools and processes to capture accurate data. We can't manage what we don't measure, so let's prioritise robust data collection for a clearer emissions picture. ❗Keeping on top of ESG supplier risk The report emphasises ongoing supplier assessments. Nearly half (47%) measure ESG risk quarterly. Regularly evaluating suppliers helps identify potential risks and ensures your supply chain remains sustainable. 🌍Regulations are the biggest challenge Staying informed of evolving regulations is the biggest challenge for CPOs (66%). Let's work together to share best practices and navigate the ever-changing regulatory landscape for a more sustainable future! Join the conversation! What are your biggest challenges in achieving sustainable procurement practices? Download your FREE copy here. 👇 #Procurement #ProcurementInsights #Insights

As environmental, social, and governance (#esg ) considerations become increasingly crucial for companies, procurement departments are faced with the challenge of ensuring their supply chains align with ESG principles. Traditional supplier evaluations are often riddled with challenges and risks, relying heavily on manual processes and anecdotal evidence. This is where solutions like the ESG Disclose Procurement & Supply Chain ESG Readiness Assessment can revolutionise the way procurement departments approach ESG due diligence. The ESG Disclose Readiness Assessment leverages technology to streamline the process of identifying and addressing potential ESG risks and opportunities within your supply chain. By automating data collection and analysis, this solution eliminates the inefficiencies of manual processes, allowing procurement teams to gain unprecedented transparency and control over their supplier networks. One of the key benefits of this AI-powered assessment is its ability to unmask hidden ESG impacts, which can account for up to 70% of a company's overall ESG footprint (Scope 3 emissions). By exposing these hidden risks across suppliers, procurement departments can take proactive measures to mitigate potential issues and ensure compliance with ESG standards. Moreover, the Readiness Assessment boosts efficiency by streamlining the entire process, saving valuable time and resources that would otherwise be spent on manual data collection and analysis. This not only improves operational efficiency but also enables procurement teams to focus their efforts on developing and implementing effective interventions and strategies. Implementing solutions like the ESG Disclose Readiness Assessment can also provide a competitive commercial advantage. By showcasing a commitment to responsible sourcing and transparent ESG practices, companies can differentiate themselves in the market and attract conscientious customers and investors. #procurement #netzero #esginvesting #esgreporting

2024 Supply Chain Procurement and Services Trends. A great overview encompassing the dynamic shifts in customer demands, market dynamics, and the progress of procurement technology that has captivated solution providers. Included is the anticipated impact of these factors on the Source-to-Pay (S2P) landscape in the upcoming year, shedding light on the strategic responses solution providers are formulating in anticipation of these transformative changes. #supplychain #transportation #atlasvantage #logistics #globaleconomy #riskmanagement #globalization #s2p #procurement #procurementexcellence #carbonreduction #sustainability https://lnkd.in/euHRRFpM

Advancing sustainability in procurement is, and will continue to be an immense challenge for all involved. The research conducted for our ProcureCon Sustainability Report uncovered some interesting and 'insightful' suggestions for the industry. Click below to get your free copy.👇   https://lnkd.in/eKFn9iug One particularly important finding was the idea that whilst perfection may not be attainable currently, making a start is the most important thing.❗   Do not let perfection be the enemy of progress   It would be great if all systems and processes were perfectly aligned to collect and analyse accurate and timely ESG data. However, this is not the case. Much of the data used today is based on industry standards, estimations and supplier reporting. While this data might not be perfect, it is a valuable starting point. Having a baseline to progress from is the best option, and using a combination of data sources is better than waiting for perfection. Making a start is the most important thing.📊   Reveal even more suggestions and uncover the thoughts of procurement leaders on how the industry will advance sustainability in the coming years by checking out the full report. ♻️   #Procurement #ProcurementInsights #Insights

Here's my view on how to integrate #sustainability in your #procurement practices (the long list). ✅ Perform #ESG due diligence prior to supplier on-boarding (combine questionnaires and on-site audits) ✅ have a clear code of conduct for your suppliers, get it signed before starting a business relationship ✅ Include ESG criteria in your supplier selection/awarding process, with minimum thresholds to qualify for a bid ✅ Include ESG KPI's in your supplier performance monitoring (scorecards), ✅ Include ESG targets in your contracts & purchasing agreements, tied to your supplier's materiality assessment, ✅ as a pre-requisite to the above: find out which sustainability matters are material for each of your strategic suppliers ✅ Include sanctions (financial or otherwise) in case thresholds are not met ✅ Identify processes & procedures that are impacted by your ESG ambitions, change them so that sustainability becomes part of how you work rather than a separate work stream. ✅ Obtain 3rd party assurance on your suppliers' ESG performance, such as independent ESG ratings. ✅ train yourself, your suppliers and your employees on this critical skillset ✅ add ESG skills to your team's competence model and to your job descriptions when hiring ✅ stay connected to your own company's materiality assessment, prioritize the work with suppliers to mitigate impacts/risks and seize opportunities ✅ establish an ESG regulatory watch, verify compliance with regulations before they come into effect ✅ calculate your scope 3 emission baseline for "purchased goods & services", establish a stable on-going measurement and kick-off an emissions abatement action plan ✅ integrate ESG checks into supplier site audits ✅ promote circular economy by buying re-used or recycled material ✅ partner with others to progress faster... maybe even with your competitors ✅ promose diversity, equity and inclusions at your suppliers and within your company Found this #insightful? Hit that Repost button. Maybe I forgot something important? Expand in the comments. Does your team tick all the boxes? If not, you might want help implementing #sustainableprocurement practices - send me a message.

🌍Can Procurement Deliver on Sustainability Goals? Let's Find Out! To access your free copy of the report, click here 👉 https://lnkd.in/eKFn9iug   🔍In Chapter 3 of The ProcureCon Sustainability Report, we dive into whether or not procurement is equipped to tackle ambitious sustainability goals.   💪Spoiler alert: 84% of respondents are confident they can deliver, but there's work to do for the remaining 16%.   Here's what's holding them back:   ❗Regulatory complexities: Navigating different regulations across regions is a big hurdle (66% agree). CPOs need a clear understanding of their obligations globally to ensure compliance.   ❓Understanding the "why": What motivates organizations to be sustainable? Regulations are a big driver (92%), but also a strong sense of ethical responsibility (77%). This could be fueled by a younger workforce passionate about sustainability, which is a great opportunity!   So, what's the roadmap to success?   📊Address regulatory challenges: Provide CPOs with tools and resources to stay up-to-date on complex regulations and ensure compliance is seamless.   🤝Embrace the "why": Leverage the desire for ethical responsibility and tap into the passion of younger generations to create a win-win for sustainability and industry leadership.   👩💻Ready to empower your procurement team to achieve ESG goals? Download the full report below and join the conversation!   #Procurement #ProcurementInsights #Insights

#NovoKNews 📰:𝐂𝐎𝐏𝟐𝟖: 𝐖𝐡𝐲 𝐬𝐮𝐩𝐩𝐥𝐢𝐞𝐫𝐬 𝐚𝐫𝐞 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐟𝐨𝐫 𝐧𝐞𝐭-𝐳𝐞𝐫𝐨 Why are suppliers, procurement teams and manufacturers so critical in the journey towards net-zero? Read this article to know more: https://ow.ly/MfpP50QhfAP #COP28 #NetZero #Procurement #SupplyChain #UK

Supply chain compliance is complicated. See how Source Intelligence’s purpose-built software can streamline your supply chain compliance and ESG efforts. https://hubs.la/Q02Mglrk0 #productcompliance #responsiblesourcing #sustainability #supplychain