Taking the lead – a guide to more responsible procurement practices is a new report from the Chartered Institute of Purchasing & Supply (CIPS) and Traidcraft, and sets out a platform for success to help companies achieve more responsible purchasing practices.
Among those presenting and leading the debate at next week's meeting are Ariane Thomas, L'Oreal's Purchasing Director, and Adam Swan, Commercial Director of Brakes.
The increase in global sourcing, particularly from the developing world, has brought current gaps in procurement practice to the fore and companies know that poor practice in their overseas supply chains puts their reputation and image at risk. But clear success indicators and examples for companies to benchmark themselves against have been lacking – until now.
With case studies of good practice from twelve international companies, the report reveals six success factors critical for a company to manage responsible purchasing:
- Leadership and accountability
- Knowledge and the consequences of buying actions
- Managing conflicting priorities
- Thinking and acting beyond short-term horizons
- Managing relationships in the supply chain
- Responsible use of power in the supply chain
Mike Gidney, Director of Policy at Traidcraft, said: "Every company sourcing from overseas can have a positive impact to its suppliers. In today’s uncertain economic climate, responsible purchasing makes good business sense."
"In a world where everything is connected, understanding the impact of our sourcing decisions matters, this is the ideal time for the procurement profession to seize the opportunities and act as catalysts for change," said Ron Jarman, CIPS President and Global Head of Sourcing, Reuters.
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Notes to editors:
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The report, Taking the lead - a guide to more responsible procurement practices, will be launched at a breakfast seminar on 22 May 2008 in London.
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The event will be chaired by Ron Jarman, President, The Chartered Institute of Purchasing and Supply and Global Head of Sourcing for Reuters.
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The report is part of a series of reports produced by the Responsible Purchasing Initiative.
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National Ethical Investment Week runs 18th – 24th May and will highlight the positive impact of green and ethical investment options. The aim is to encourage consumers to reflect on the social and environmental impact of their financial choices and consider choosing a green and ethical investment.
For further information about the Chartered Institute of Purchasing & Supply please contact Liz Lees, Head of Public Relations, on +44 (0)7917648564 or email liz.lees@cips.org or visit www.cips.org.
For more information about Traidcraft contact Melissa Duncan, Head of Communications, on +44 (0)7831 576103 or email melissad@traidcraft.co.uk.
