Sustainable sourcing is the integration of social and environmental factors into the selection process for suppliers. The long-term goal of sustainability sourcing is to build lasting supplier relationships, and at the same time improving upon environmental and social goals as a core corporate objective.
The key to moving toward sustainable sourcing is to not embrace every aspect of sustainability in one go, but to include one aspect at a time and then another. And during that process, the company can build sustainability metrics and go on adding to its approved list of sustainable suppliers. A simple scoring system is often helpful, more so if those aspects are reflected within a company’s procurement and sourcing transaction system.
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.