Sustainability: Here to Stay?

Corporate social responsibility (CSR), sustainability, green, triple bottom line-are these new catchphrases or very real requirements that demand the attention of procurement organizations? Based on interaction with our clients these are all enduring beliefs that must be addressed by supply management professionals.

What’s impressive about the sustainability initiatives in leading organizations is the level of commitment across the entire company from senior management to the administrative staff. Add to the mix that the concepts transcend the corporation and are being driven by communities, academia and government and you’ll readily understand the overall importance. Ignore CSR, as some companies have, and there’s a price to be paid.

Unfortunately, most procurement professionals are already stretched to meet the needs of their companies. How do they learn more about CSR and sustainability?

There’s a great deal of information already available, from the Internet to books. The Institute of Supply Management is conducting a Sustainability and Social Responsibility Conference-Nov. 5-6 at the Marriott Inn and Conference Center UMUC in Hyattsville, Md. Click here to learn more.

Greybeard Advisors will be in attendance, and we hope to see you there.

The following are some fundamental recommendations for making sustainability and CSR an important part of your sourcing process:

• If your company already has a CSR and/or sustainability program make sure that you and your supply management team know the details.
• Seek out and get to know your corporate leaders or teams who have responsibility for CSR.
• Ensure that each sourcing initiative accounts for the CSR needs of your stakeholders.
• If you have a toolkit that supports your sourcing process, develop a tool that covers the requirements of CSR