When working in procurement and supply, it’s important to consider procurement ethics; things like social, environmental and economic factors must all be taken into account when sourcing products from unknown suppliers in different locations and work cultures.
Procurement professionals must be aware of the practices that its business employs in terms of procurement in order to ensure that they are ethical and sustainable and in line with all of the correct guidelines and procedures. Things like corruption, fraud and unethical treatment of people like modern slavery or child labour.
Procurement Ethics – How is it possible?
Ethical and sustainable procurement is definitely possible, although it takes a lot of research and understanding to properly look out for the signs. Purchasing professionals must be up to scratch on all of the rules and regulations surrounding procurement in their industry, taking the time to understand the signs and implications of unethical behaviour within their field.
Once you know what to look out for, spotting unethical behaviour should become second nature to you. It’s imperative that you act with integrity and good moral principles when negotiating contracts and examining processes.
What is ethical sourcing and procurement?
Put simply, ethical procurement and sourcing is the guarantee of products or services which are acquired are produced and sourced in a responsible and genuinely sustainable manner.
Why is ethical procurement important?
Not only is ethical procurement considered an essential part of managing brand reputation, but it is also a profitable approach for organisations to undertake, since ethical procurement can leverage a competitive advantage over rivals who do not employ best practices.
How SRSCC can help
Here at SRSCC, we can provide CIPS recognised training on procurement ethics that enable you to drive procurement and supply in a manner that is ethical, environmental and economical.
Browse our complete range of responsible, CIPS approved procurement courses.
We will help you deliver sustainable goals for your businesses procurement and supply that meet all of the necessary criteria and legislation and help create a principled approach to your procurement. Learn more about SRSCC, a leading supply chain training provider.
