Why should your CEO be the biggest supporter of sustainable and responsible sourcing/supply chains?
It has been well documented and accepted that it pays off to run sustainable business: consumers buy it, employees demand it, investors request it. Sourcing and supply chains contribute 50%- 80% of sustainable impact in various sectors. Yet a clear understanding of dimensions of responsible sourcing as part of a company’s value creation has not been well understood or established.
The goal of this Council is to explore deepening connections between measures of responsible sourcing and business outcomes. As such, sustainability in sourcing is viewed from the perspective of a risk assessment and risk mitigation with sustainability specific risk factors such as labor practices including cyber risk, diversity and dignity at work, customers’ trust and brand reputation, climate change actions, environmental stewardship, ethics of AI etc.
This discussion will allow sourcing professionals to broaden their understanding of different aspects of sustainability and empower them to address conflicting business pressures of value creation by cost reduction vs. brand protection vs. leadership in sustainable development.
This is our first Working Council meeting in this area, and we invite and encourage ALL SIG MEMBERS to participate.