Getting bad publicity, losing customers and being subject to criminal consequences are just a few of the risks an organization can face when its procurement professionals are unaware of constantly changing social responsibility concerns.
Companies are looking more towards chief purchasing officers to help them understand supply chain risks, while firms which are collaborating and sharing information about their suppliers are reducing the cost of due diligence for themselves and making their business more competitive.
Walmart welcomed more than 500 manufacturers recently at its world headquarters, during the company's first Made in the USA open call. Suppliers met with senior company officials and merchants to pitch products for stores, clubs and online.
We're all familiar with maturity curves, but how helpful are they really? Telling a company how mature they are, based on academic factors, means next to nothing if it's not rooted in practical applications that relate to a procurement professional’s day-to-day work.