Amazon Business’ Post

Amid supply chain disruptions, inflation, and natural disasters, businesses are prioritizing resilience, with procurement processes recognized as essential to this goal. The Wall Street Journal shares how companies can align purchasing decisions with sustainability goals, driving efficiency, and fostering innovation. https://amzn.to/4bKLvry

"Discover how procurement is evolving beyond cost savings to drive sustainability, innovation, and strategic growth. Dive into the latest trends with my new slide. #ProcurementEvolution #SustainableSupplyChain #InnovationInProcurement"

To establish trust in procurement innovation and sustainability, it's essential to maintain transparency in processes, adhere to recognized certifications, build strong relationships with suppliers, showcase a track record of success, ensure compliance with regulations, engage stakeholders, commit to continuous improvement, provide transparent reporting on sustainability metrics, emphasize ethical sourcing practices, and collaborate with industry peers and experts. By focusing on these principles, organizations can foster credibility, strengthen relationships with stakeholders, and ensure sustainable long-term growth. #procurement #innovation #sustainability

💰 Where’s Supply Chain Spending Going Today? - #FoodForThought for the weekend. In an era of uncertain consumer demand and persistent high-interest rates, companies are strategically adjusting their financial focus. Amid tightened belts, some critical initiatives, like compliance with ESG requirements, are struggling to secure resources. So, where are companies channeling their spending today? The key lies in discerning corporate priorities. Two years ago, procurement leaders ranked their top concerns as supply stability, talent, cost containment, and sustainability. Fast forward to the present, and the hierarchy has shifted. Cost containment now takes precedence, followed by supply stability, talent, and sustainability. Companies are allocating their limited resources towards initiatives that promise rapid returns on investment. Explore the link to dive deeper into this evolving landscape: https://bit.ly/3QqLgta #supplychain #sustainability #ESG #budget

Money talks, but does it really listen? Focusing solely on savings might bring short-term results, but are we missing out on bigger opportunities in the long term? Shouldn't procurement be incentivised for sustainable sourcing and innovation as well? Is it time for businesses to broaden their perspectives on how they reward procurement efforts? Linking rewards to a wider range of benchmarks could enhance our approach. What do you think? #Procurement #Sustainability #Innovation #BusinessInsights

Great article on the future of IT procurement from Procurement Magazine Ready for the changes that lie ahead for Digital Procurement? Preparing for tomorrow "The future of procurement rests on the answer to one question. Will you continue to follow the old rules or is it time to join the movement and embrace the new rules of procurement engagement?" Disruptive innovation "Procurement can learn from the world of disruptive innovation and move away from big-ticket, incumbent solutions available to only large procurement departments to best-of-breed, agile solutions."

In this webinar, experts in sustainable IT hardware procurement processes will talk about how organizations can reduce the environmental, social, and economic impacts of IT. MarkIT will explain how to find products certified according to TCO Certified in the Markit marketplace procurement platform. Lenovo’s Global Sustainability Director explains their progress towards sustainable IT products. Sustainable Purchasing Leadership Council tells about their tools for the industry. About TCO Certified presented by Dmytro Kapotia at TCO Development. #TCOCertifed #SPLC #MarkIT #Lenovo #sustainableprocurement #sustainability #SustainableIT

In today's rapidly changing business landscape, sustainable procurement has emerged as a game-changer for supply chain resilience and brand reputation. As consumers become more conscious of the environmental and social impacts of their purchases, companies can no longer afford to turn a blind eye to their procurement practices. 🔗 Read up on our fresh new blog “Sustainable Procurement: A Game-Changer for Supply Chain Resilience and Brand Reputation” right here: https://lnkd.in/dtp3S86p #sustainableprocurement #procurement #SCMDOJO 

In today's rapidly changing business landscape, sustainable procurement has emerged as a game-changer for supply chain resilience and brand reputation. As consumers become more conscious of the environmental and social impacts of their purchases, companies can no longer afford to turn a blind eye to their procurement practices. 🔗 Read up on our fresh new blog “Sustainable Procurement: A Game-Changer for Supply Chain Resilience and Brand Reputation” right here: https://lnkd.in/dtp3S86p

Over the last five years, we’ve seen companies make commitments to ESG targets in the face of mounting pressure from government, shareholders, consumers and employees. In 2024, the focus is shifting to how those companies are going to deliver and report on their sustainability commitments - from decarbonisation to modern slavery to social impact. 📖 Want to know how you can get ahead on your sustainability commitments? Download our report here: https://hubs.ly/Q02dlYQ30 #procurement #supplychain #trends #ESG #sustainability