The answer is Strategic Sourcing.
Source One challenges the common misconception that environmentally-friendly commodities and suppliers are more expensive than less sustainable options. For many enterprises, perceived higher costs are a deterrent to pursuing green initiatives. However, the truth is strategic sourcing makes going green a more affordable option than many anticipate. Through strategic sourcing companies can get a full perspective of viable suppliers, their capabilities, and insights into pricing, whether they’re looking to continue their mission of reducing waste or need support reengineering a product with more sustainable materials.
Simply exploring the market is the first step to seeing what sustainable options make sense for your supply chain operations. Over the years, Source One has supported a number of clients partner with suppliers that support their mission of offering their consumers sustainable and environmentally-conscious products and services. By getting a clear view of the market landscape, Source One’s cost reduction consultants were able to identify vendor aligned with our clients’ mission and leverage market intelligence to achieve a competitive agreement. In the case of a consumerpackaged goods client, this meant repurposing the agricultural bi-product that would have otherwise gone to waste. Instead, the bi-product was used to support local farms in feeding livestock.
In another scenario, Source One’s engineers were able to help a technology company reverse engineer a battery product with more environmentally friendly materials. Alongside the client’s engineering team, Source One was able to identify alternative materials for the product. In addition, they developed a unique RFP strategy centered on finding suppliers that met their sustainability requirements. The initiative not only saved the client 12%, but allowed them to deliver on their promise to provide consumers environmentally friendly products.
We’re proud to share that our commitment to sustainable sourcing for our clients has allowed us to win the SupplyChain and Demand Executive Magazine 2016 Green Supply Chain Award. The award acknowledges organizations that strive to apply discover new strategies for sourcing in an environmentally friendly way that still meets the cost-reducing goals of the company at hand. We're honored to receive the recognition and look forward to continuing to help our clients reach both their sustainability and cost reduction goals.