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#FIND ROCKWELL PRODUCT KEY CODE#

Revision of performance goals and incentives of key leaders in the team to ensure that the sustainability agenda gets the attention it deserves.Ħ.Building of knowledge and skills of own and suppliers’ personnel for proper implementation of sustainability initiatives.

Integrated intelligence systems with reporting capabilities to regularly track progress and communicate insights on compliance/performance and corrective actions to relevant internal and external stakeholders.

Supplier selection, onboarding and engagement processes to achieve sustainability through contractual obligations, site audits and inspections, certification of practices in key areas, emissions reporting, product innovation, etc.

Strategic sourcing plans and actions extending from Tier 1 to sub-tiers of supply chains where possible.

Here, the focus should be on the following: Next, the team needs to transform objectives and policies into processes and practices that will ensure that sustainability initiatives are getting implemented on the ground. Companies can even team up with industry peers on some initiatives to improve scale and efficiencies and allow mutual sharing of best practices.ĥ. In this step, the procurement team should identify the suppliers who will be majorly responsible for achieving the objectives, and the key intelligence vendors, audit firms, NGOs and IT vendors that will provide essential support in certifying and monitoring sustainability practices and reporting of compliance and performance on a regular basis. Goes without saying that these policies and metrics should be communicated to relevant stakeholders for clarity on their roles and responsibilities.Ĥ. Next comes key metrics to assess the performance of sustainability initiatives.

#FIND ROCKWELL PRODUCT KEY CODE#

In this step, the team should define the policies (or code of conduct) that will align internal and external stakeholders around the functional objectives and the areas of improvement such as carbon footprint reduction, elimination of child/forced labor from the supply chains, reduction of exposure to suppliers with questionable business practices, etc. The functional objectives and the roadmap must then be converted into category-level strategies and action plans.ģ. Once the functional objectives are in place, a phased roadmap should be drawn up covering the key initiatives and the milestones over the next 1-5 years and beyond. Next, the team should align functional objectives with corporate sustainability goals. The team can benchmark their company with industry peers and solicit help from specialists and suppliers for a better understanding of their current standing.Ģ. A procurement team should evaluate the current processes and systems to identify the key risks and opportunities for improvement. Reduces environmental impact as companies become more conscious about GHG emissions across their own and suppliers’ operations including the extended supply chain of each product line.Ī McKinsey study found that top ESG/sustainability performers witness faster growth and higher valuation of 10-20 percentage points in each case – this alone is a compelling reason to embark on the journey towards a sustainable business model.Īssuming that corporate sustainability goals and materiality assessment are already in place, here are the 6 steps that procurement teams should take to drive sustainability.ġ.Protects business reputation as companies focus a lot on their own and suppliers’ compliance with social obligations and regulatory mandates related to corporate governance, anti-money laundering, anti-bribery and corruption, labor rights and welfare, environment protection, etc.Enhances collaborative potential with suppliers as a sustainable business model requires better supplier engagement for supply chain transparency, sustainable products development, business resiliency planning, emissions reporting, etc.Increases business opportunities as customers prefer to associate with companies that have “green” and “sustainable” products.When sustainability is taken seriously, companies focus on achieving a fine balance between business objectives and social and ethical obligations, and this results in benefits which are briefly explained below.