Hi friends! To all of you who's still early in the #sustainableprocurement journey, I'm super excited to share one of our latest product releases: our free supplier ESG risk module! 🎉
Why did we build this?
👉 "#Sustainability" covers many different topics from "#childlabor" to "#emissions". It's key we personalize the analysis of your #supplychain to the topics that are "material" i.e. "at risk" with your suppliers. This is also how major legislative frameworks thinks about the problem, from #CSRD to #LkSG.
👉 We found a lot of companies today relying on great frameworks like SASB Standards to understand what's material or at risk, the problem is of course that no framework rules them all, so we often had to tap into dozens of different risk and materiality resources to determine "materiality" of the unique set of suppliers in a customer's supply chain.
👉 This was also really hard to do in excel! Mainly because we're dealing with 3 dimensions: 74 ESG topics, x number of industries/products, y number of geographies. The unique combinations here quickly explode, e.g. if we just analyze the 17 ESG topics covered by the LKsG (german supply chain act), across a fairly simple supply chain where you procure from 10 categories and maybe 12 different countries, you end up with 2040 combinations that could very easily have different risk profiles!
👉 That also means that the current standard of creating a "template" to assess each industry you source from doesn't work, because it ignores the regional context which is important for some social and environmental risks. As the chief sustainability officer at Dior said at a recent conference: Climate is global, biodiversity is local.
So therefore, introducing our supplier ESG risk module (do we need a copywriter for more sexy brand names? 😅):
✅ Can read any ESG risk or materiality resource that comments on the ESG risk of a supplier "context" (e.g. location, industry/product). More than 100 resources pre-loaded in the system so it works out of the box, but can be customized with your own risk data.
✅ Automatically creates a personalized risk profile of each of your suppliers, so you know exactly what to focus on.
✅ Automatically creates a risk overview across your supply chain so you can see which topics to tackle, and where.
✅ Dynamically links with your supplier specific data so you can see which risks are mitigated and use for compliance reporting.
✅ Dynamically links with our supplier engagement module so you can personalize the engagement of every supplier and focus on the topics that matter.
Oh yeah, and we made a hashtag#free version of this! Why? Because our goal is to make every purchase in the world responsible, and the starting point for most companies is a materiality/risk analysis, so they can focus and prioritize.
Try it out, or let me know what you think based on the above and the video! 😊
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