Many agencies across the world are adding green initiatives into their supply chains and reaping the benefits sustainable measures can provide. While implementing a program may seem complex or time consuming, considering the positives of more environmentally and socially responsible procurement processes has proven to be a plus for many firms.
Reviewing current purchasing strategies can help business leaders determine where they have opportunities to slowly phase in new policies that will do more for company growth and the firm's bottom line in the future. Staying aware of the latest sustainability practices, industry techniques and rival initiatives can also help a firm looking to become more competitive.
Developing a reputation as an industry leader
As consumers become more aware of sustainable initiatives they are taking the time to determine what their favorite brands are doing to help preserve natural resources and help local communities. Because of this, green procurement policies can help a company develop a stronger reputation with current customers and potentially help lure in new purchasers concerned about corporate social responsibility.
Cost savings opportunities available
A firm that takes the time to incorporate green procurement strategies such as purchasing supplies made of recycled materials or use renewable energy to get raw materials to facilities may find they can cut down on expenses. In addition, governments across the world are taking an interest in seeing businesses operate more sustainably, which could mean new taxes, fines and compliance measures for companies in the future. Seeking the best opportunities to purchase low-cost sustainable products and use less expensive renewable energy sources can help a firm limit costs and stay in line with any green regulations within the countries in which they operate.