Supplier-friendly brands can deliver ESG
Let’s fix the supplier data problem and set up sustainability for success, writes Costas Xyloyiannis, supplier experience expert and chief executive of HICX.
- Complex tech setups used to work with suppliers corrupt their data.
- Leaders can secure reliable ESG data by helping procurement drive data-based goals.
- It’s time to fix how we work with suppliers once and for all and futureproof ESG.
With environmental and social governance (ESG) at the top of the agenda, manufacturing brands know that delivering this goal is far easier said than done. Tasked with the job are sustainability leaders and they face a fundamental problem: a serious lack of good-quality supplier data. In practice, good supplier data is hard to get, and those who do manage will know that it’s even harder to keep.
How then can we help sustainability teams remove this barrier? We can start by examining the source of bad data. Suppliers feed the problem, although they don’t directly cause it. What does, is the way in which suppliers are expected to work with brands and, more specifically, the digital setups and cultural mindsets they must navigate. The longer suppliers are left to struggle with this the longer their data will remain a problem.
It’s time then for leaders to make the most of suppliers and their data, and to help their teams deliver ESG.
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