One Supply Chain. One Platform.
Managing risks amidst the growing complexity of modern supply chains is a tricky affair. As the industry’s leading Supply Chain Risk Management platform, Avetta One’s complete portfolio of tools and services can help clients simplify risk management and promote a safe, sustainable supply chain.
We are always looking for new ways to help our customers thwart supply chain risks, known and unknown. And as part of this ideology, we are happy to provide the following Gartner research report for your viewing.
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A sustainability-first stand will determine the future of modern supply chains
With a strong focus on building future forward industries, sustainable procurement initiatives have gained greater importance than ever before for leaders across enterprises.
To embrace this change, Chief Procurement Officers need to redefine their sustainable procurement strategies
According to a 2019 Gartner® survey, “75% of surveyed organizations reported having a formalized sustainable procurement program in place”. However, these programs are often limited in their scope by some organizations which end up creating supplier codes of conduct without verifying compliance directives for the same.
Expanding these initiatives requires new approaches to gathering insights
For sprawling supply chains across the globe, assessing ESG performance for suppliers is a key step towards ensuring that core compliance guidelines are being met in the quest to create truly sustainable supply chains. In this regard, both external and internal stakeholders are taking the necessary steps to achieve the same. And a good place to start understanding the landscape is with the 1st June 2022 Gartner market guide titled, “Market Guide for Supplier Sustainability Applications”.
Key Findings
“Adoption of supplier sustainability applications to enable sustainable procurement is not yet mainstream, but is accelerating.”
“The vendor landscape for supplier sustainability applications is extremely fragmented. Vendor capabilities and focus areas vary significantly, and are aimed at supporting or buying organizations at different maturity stages.”
“Vendors from adjacent markets are positioning themselves as providing supplier sustainability insights. However, they often fail to support basic capabilities natively, and sustainability is not a core part of their unique selling proposition”
“Poor supplier experience, driven by fatigue and lack of improvement insights, can limit supplier adoption of a supplier sustainability application.*”
*Source: Gartner, Supply Chain Goes Full Tilt Into Risk Management, Koray Kose, Cian Curtin, 14 December 2021
These are the primary concerns when it comes to adopting sustainable supply chain initiatives, but there is hope when it comes to achieving their goals. Through the concerted use of technology, the maturity of resources and vendors can be prioritized in accordance with enterprise needs, and both future and current strategy goals can be supported with the right supplier sustainability solution. This is only the beginning, with more initiatives and innovations available for chief procurement officers searching for the right vendors to help them build their sustainable supply chains.
To know more about building sustainable supply chains and the initiatives that can be taken for the same, register for complementary access to the Gartner market guide.
To know more about building sustainable supply chains and the initiatives that can be taken for the same, register for complementary access to the Gartner market guide.
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**GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used here in with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.