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What is Ethical Procurement and Why is it Important?

Oxford College of Procurement and Supply

Ethical procurement is becoming increasingly important in our ever more complex, interconnected, and global economy. In the past, the main focus for most companies was profit, but more and more companies now understand and value ethical procurement. What is Ethical Procurement? What is Ethical Procurement?

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What does the German Supply Chain Act Mean for Procurement?

ivalua

The act was established to address issues of sustainability and ethical conduct in global supply chains, and has significant implications for companies and procurement organizations operating in Germany. For procurement organizations, the German Supply Chain Act presents both challenges and opportunities.

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Procurement Teams Forced to Cut Corners as External Challenges Bite and Investments in New Technology Don’t Keep Pace

ivalua

Nearly a third (32%) of procurement teams concede to cutting corn ers with their sourcing criteria for suppliers to secure supply. 81% of procurement teams feel pressured by executive teams to respond more quickly and effectively to challenges such as inflation, disruptions, and shortages. Global Media Contact.

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Governments need to plan for the entire product lifecycle when they purchase technology today

American City & Country

Cunningham adds that proper training for system operators “must cover not only system operation but also legal and ethical considerations.” Keeping pace with rapid technological advancements, particularly in artificial intelligence (AI) and analytics, while navigating associated legal and ethical challenges can be tricky to navigate.

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More than half of European suppliers say procurement teams aren’t enforcing standards for responsible labour

ivalua

86% of UK suppliers see responsible labour practices as a competitive advantage, compared with 71% in France and 70% in Germany – suggesting that UK buyers are putting more plans in place to address ethical labour than other European regions.

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Leveraging Data Analytics in Procurement: Unlocking Efficiency and Strategic Value

Tracker Intelligence

Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. It also provides transparency which encourages compliance with regulatory frameworks and positive ethical procurement practices.

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CSR is Good for Business, an Independent Consulting Study Reports, but Official Targets & Policies are Lagging Behind

ivalua

Social and ethical priorities are close behind but still lag. Those looking to accelerate their CSR initiatives should learn from the leaders and empower procurement teams and suppliers with the technology needed to support effective decision-making and scalable collaboration”, said David Khuat-Duy, Founder & CEO of Ivalua.