Most procurement functions are covering the basics of incorporating corporate social responsibility (CSR) processes, but this effort is more tactical than strategic. According to a recent Procurement Leaders study, 82 percent of procurement functions have managed to include CSR in their supplier selection and evaluation criteria.
While more than half (53 percent) of all companies in the S&P 500 Index and Fortune 500 published sustainability reports in 2011 "” up from 19 percent the year before "” companies in the U.S. are less likely to obtain third-party assurance than their global peers, according to a report by the Global Reporting Initiative (GRI). Assurance refers to third-party validation of a sustainability report's contents.
Richard Bank and Lisa Harrington, directors of the Sustainable Supply Chain Foundation, bring us up to date on the group's efforts to introduce third-party verification of companies' sustainability programs.
Arthur Adams Jr., director of sales with CSX, outlines shippers' intermodal "pain points," and talks about what the railroad is doing to alleviate them.
Supply chain managers fight a tough battle in trying to meet management demands to decrease costs while creating efficiencies and implementing sustainability measures. Economic growth has improved but lacks the stability to provide companies comfort to budget for implementation of many of the innovations in their long- or short-term plan. However, companies can stagnate without taking the time to identify opportunities to innovate. With pressure to sustain its competitive edge, leading organizations are beginning to consider their reverse supply chain to find hidden value.
The latest news, analysis, trends and solutions for sustainability and corporate social responsibility (CSR) and their impact on supply chain management. New customer expectations for green and ethical products and practices are transforming the way companies do business — and requiring more supply chain transparency than ever before. As solutions continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies around the world are leveraging sustainability and CSR to stay ahead of the competition in their industries.
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