Your suppliers’ involvement is crucial to your success
Getting suppliers on board is essential for delivering on sustainability goals and strengthening a business. But suppliers may not collaborate when they do not perceive an added value in doing so. Supplier engagement activities aim at increasing the involvement of your suppliers in your company’s ambitions to tackle challenges and avoid setbacks.
How we perform supplier engagement which strengthens your business relationships
Supplier engagement involves the identification of and the interaction with suppliers to achieve shared goals and benefits. To reach targets, clear communication about goals and incentives and supplier capacity building are crucial.
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Supplier selection
We can facilitate supplier engagement by first identifying and prioritizing suppliers based on volumes of sourced commodities or spend. Initial engagement efforts focus on your most important suppliers.
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Outreach
Once suppliers are selected, we organize online dialogues and supplier site visits to exchange views and raise awareness, demonstrating how an alignment with your company’s sustainability goals benefits supplier businesses. Suppliers are also provided with training on specific aspects related to your sustainability targets.
Regular liaison
We build upon the supplier outreach to set up a two-way communication mechanism that encourages continued supplier participation in the pursuit of your sustainability vision.
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Better grasp of risks and opportunities
The engagement process is an opportunity to obtain geographic coordinates and other critical, location-specific insights in more sourcing locations, and therefore a more precise cartography of your supply chain. Exposure and vulnerability to risk factors can also be assessed. This goldmine of granular information can be built upon in further analyses to quantify your company’s or your investees’ financial risks more accurately and to explore the most adequate opportunities to safeguard against losses.
Improved management of Scope 3 emissions
Supplier engagement can include training in data gathering coupled with regular liaison with suppliers to provide technical assistance and avoid supplier fatigue. This can help your company more effectively track and address its Scope 3 emissions as well as other sustainability issues.
More resilient supply chain
Engagement activities create stronger relationships with suppliers, build trust, increase access to updated supplier information, help communicate needs and expectations, deepen insights into current issues facing suppliers, and improve management of supply chain risks. This helps to identify new opportunities and strengthen procurement processes, thus ensuring supply chain resilience.
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