Sustainable procurement or green procurement has become critically important for many of today’s businesses!
Today’s post is by Tyler Walther, Account Manager for SafeSourcing.
Sustainable procurement or green procurement has become critically important for many of today’s businesses. What is green procurement and what are some of the benefits for business?
According to Hari Srinivas, 5-14-2015 Green procurement is the purchase of environmentally friendly products and services, the selection of contractors and the setting of environmental requirements in a contract. Green procurement consists of assessing your supply chain, determining where the products come from, what they consist of and what happens to them once they have been expended. Possibly the most important aspect is considering if the purchase needs to be made at all and – if it does – ensuring quantities are accurate and lessening surplus.
A few benefits of becoming a green procurement organization:
- Cost Reduction: A common misconception is going green costs more. Amortized it actually saves money, considering the new products use less energy, generate less waste, and last longer. Plus, sometimes green products work better than their toxic counterparts!
- Customer Satisfaction: An organization that goes green in response to customer demand increases its levels of customer satisfaction, a key factor in customer retention.
- Corporate Image: Companies that go green are seen as good corporate citizens. This increases its image in the eyes of the public.
- Reduced Risk: Not only is any company that does not go green risking potential legal consequences by failing to comply with green regulations, which are steadily increasing, but it is also maintaining more liability than necessary. With green procurement, you can offset financial and environmental risk, rather than just inheriting it from your suppliers.
For more information on how SafeSourcing can assist you in exploring your procurement solutions for your business, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.
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