Browse Definitions :
Definition

sustainable procurement

Sustainable procurement is the meeting of business needs for materials, goods, utilities and services in an environmentally-friendly, responsible and ethical way.

Companies dedicated to sustainable procurement try to make economical and effective long-term decisions that benefit the company, customers, society and the environment. For example, beyond initial costs of a product, the cost of the product lifecycle are assessed. This assessment includes the product’s cost of acquisition and maintenance as well as costs associated with the end of service time, such as disposal. Once these product considerations are met, a buyer would also avoid products produced by exploitative labor or environmentally-irresponsible producers and would favor fair trade companies. Supply chain sustainability is integral to sustainable procurement.

Economic irresponsibility has always had the capacity to destroy a company. Increasingly, customers also strongly disapprove of irresponsibility to the environment and society -- customers who, in the age of social media, are likely to find about transgressions. Easier access to information and communication also helps consumers respond to corporate malfeasance, sharing information, for example, and organizing boycotts. This consumer pressure and the desire for good public relations helps drive corporate initiatives like sustainable procurement and promotes corporate accountability and transparency.

This was last updated in June 2016

Continue Reading About sustainable procurement

SearchNetworking
SearchSecurity
  • man in the browser (MitB)

    Man in the browser (MitB) is a security attack where the perpetrator installs a Trojan horse on the victim's computer that is ...

  • Patch Tuesday

    Patch Tuesday is the unofficial name of Microsoft's monthly scheduled release of security fixes for the Windows operating system ...

  • parameter tampering

    Parameter tampering is a type of web-based cyber attack in which certain parameters in a URL are changed without a user's ...

SearchCIO
  • chief procurement officer (CPO)

    The chief procurement officer, or CPO, leads an organization's procurement department and oversees the acquisitions of goods and ...

  • Lean Six Sigma

    Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.

  • change management

    Change management is a systematic approach to dealing with the transition or transformation of an organization's goals, processes...

SearchHRSoftware
SearchCustomerExperience
  • clickstream data (clickstream analytics)

    Clickstream data and clickstream analytics are the processes involved in collecting, analyzing and reporting aggregate data about...

  • neuromarketing

    Neuromarketing is the study of how people's brains respond to advertising and other brand-related messages by scientifically ...

  • contextual marketing

    Contextual marketing is an online marketing strategy model in which people are served with targeted advertising based on their ...

Close