How do you start your #sustainable #procurement journey?
Supplier-specific risk analysis. Here’s why 👇
#Sustainability covers a broad spectrum of things (emissions, deforestation, child labor, etc.), as do the rules that govern it (e.g. The German Supply Chain Act covers 17 of the 74 different ESG topics we track).
Supplier-specific risk (or "materiality") simplifies things by helping you prioritise what to focus on and where.
Here’s how to go about it 👇
1️⃣ Analyse the specific context of your supplier. This includes where they're located, the industry they're in, and what products they offer. To be really thorough, also check out their past news and any sanctions they might have faced. This is surprisingly complicated to do in excel, so stay tuned for a post with more detail on this.
Use that information to determine which factors are at risk and how severe that risk is.
2️⃣ Couple that with spend analysis, filter by e.g. legislation or internal priorities, and you have a blueprint for how to get started.
The good news is that we made this part of our product free, so we can help everyone get started on the sustainable procurement journey!
I.e. create a free account, upload your suppliers and analyze their geographical and industry risks based on hundreds of different risk indices, and across the full ESG spectrum.
Check out the link in the comments, try it out, and let me know what you think!
More free tools will come. Let’s make every purchase in the world responsible! 💪
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