Responsible sourcing can be defined in a number of different ways and often businesses focus on different aspects of procurement. In general, it means when sourcing products and services a business goes beyond the traditional elements of cost and quality, and incorporates environmental, social and ethical factors. This can include reviewing suppliers and their products against compliance and voluntary criteria, which is often demonstrated through an organisation's procurement policy and a code of conduct for suppliers.
Why is it important for businesses to source reputable suppliers?
In today’s world consumers have a wealth of information at their fingertips, which means that they now have the ability to make informed choices when it comes to the organisations and businesses they deal with.
This means that companies are under increasing pressure to ensure that they are doing the right things in order to meet or exceed consumer expectations. Environmental impact and ethical practices are currently key areas of concern; therefore, we are seeing an increasing number of businesses and organisations putting CSR and environmental policies in place and taking steps to ensure that the public know they are keen and willing to do the right thing.
Consumer expectations are just part of the picture, as organisations may also have legal obligations under certain pieces of legislation, which require them to have knowledge of their products and suppliers processes, such as Section 54 of the Modern Day Slavery Act, REACH, RoHS and Producer Responsibility Regulations. Any kind of malpractice could result in hefty fines, negative publicity and damage to brand reputation. Even if an organisation itself may be fully compliant and reputable; however, if any associated suppliers are deemed to be not responsible it could have a significant, negative impact on the organisation.
How can Valpak help?
Keeping track of a business’s supply chain can be a minefield, as most businesses deal with a significant number of different suppliers both in the UK and, more often, across the globe. So how is it possible to ensure that all associated organisations are doing things by the book?
At Valpak we are aware of the enormity of this task, so have developed a responsible sourcing compliance reporting service, which can help businesses to manage all of their suppliers and associated data, and collect data and documentation to provide an auditable trail.
More about Valpak’s Service
Valpak’s secure, web-based questionnaire and Data Management Portal offers a single platform solution where businesses can collate and manage both internal and supplier data, and produce useful, bespoke reports that can help to build a clear picture of business environmental performance and legal responsibilities.
Our tailored, flexible service will be developed with input from you, meaning you can decide which data and reports would benefit your company’s needs the most.
Valpak can contact your suppliers and engage with them to increase response rates, while the online system provides real time tracking of suppliers’ responses.
To find out more about our service and how it can help you to meet your business’s key objectives, contact us today for more information or book in a demo.