This quick read from IndustryWeek aims to answer a simple question that has some complex solutions: how can your company determine what your suppliers are achieving with their efforts at increased sustainability? To answer that question, Blanchard looks to Doug Schrock and Gregg Anderson of the consulting firm Crowe Horwath, who work out 4 steps to create a “supplier viability initiative”. The first tip is to identify certain suppliers:
Identify the subset of suppliers that are most critical to the company, and then identify those that you need more important information about, whether it be basic financial-viability metrics or longer-term corporate responsibility indicators.
The list goes on to list the next and future steps of assuring sustainability is being achieved by suppliers (thereby saving your company money while also achieving your own sustainability goals).