Want to Keep Good ESG Data? Foster its Source
By Costas Xyloyiannis, CEO of HICX
Where we really should turn the spotlight is towards the experience suppliers receive as they serve big manufacturing brands.
What’s clear from Deloitte’s Global Chief Procurement Officer Survey 2023 is that environmental and social governance (ESG) is now firmly on the corporate agenda. This year, it leapt right up the priority list, from seventh place to second.
Elevating ESG, however, is tough to deliver. In practice, it is hugely dependent upon good supplier data, which is notoriously hard to achieve and maintain. Exploring why turns the spotlight to its source: suppliers. Are suppliers themselves the reason we struggle with data?
Where we really should turn the spotlight is towards the experience suppliers receive as they serve big manufacturing brands.
Letting Data Live Across Teams Will Harm It
The way in which big brands work with suppliers creates too many entry points for their data. Each digital tool which employees use to engage suppliers is an opening. And by default, suppliers deposit their data in whichever tool they’re expected to use.
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