The 8 most important ISOs for ESG reporting From the late 20th century to the present day, in response to current global challenges such as climate change, degradation of ecosystems and increasing inequality, environmental and social responsibility has been a major theme in business practices. Today, stakeholders, from regulators and investors to customers and the…
Supplier management is a central success factor The supply of products and services from external sources is a central pillar of corporate management. The goal of strategic supplier management is to ensure that these resources are available under optimal conditions through an efficient procurement process. This makes the development and implementation of all measures to…
Supply Chain Act takes effect in 2023 From January 1, 2023, the obligations of the Supply Chain Act will affect all companies whose head office is in Germany, and which employ more than 3,000 people. In these cases, the German Supply Chain Act assumes that the relevant decisions for supply chain risk management are made…
Especially through the Supply Chain Act, sustainability has now gained significant importance in purchasing. Against the background of global warming, increasing environmental changes, as well as human rights violations in the value chains, the German Supply Chain Act on corporate due diligence was passed in June 2021. How did the Supply Chain Act come…
Procurement’s role in corporate innovation The shift of the procurement function from a simple cost-cutter to a strategic change-maker has already been widely discussed. Traditionally, innovation has been attributed only to R&D and Marketing functions. However, especially modern procurement can contribute significantly to corporate innovation as it depicts a central hub for internal and external…
Procurement As We Know It – will disappear Over the past decades the sphere of procurement has expanded in many directions. Procurement professionals are more and more entrusted with crucial decisional responsibility which is compendiously known as strategic sourcing. Further, as the globalization enables us to source from virtually any company around the globe, the…