How fostering CPO and supplier collaboration can solve the ‘ESG data problem’
By Costas Xyloyiannis, CEO of HICX
Developing relationships between buyers and suppliers isn’t just good for business, it can bolster ESG efforts.
What’s clear from Deloitte’s Global Chief Procurement Officer Survey 2023 is that environmental and social governance (ESG) is now firmly on the corporate agenda. This year, it leapt right up the priority list, from seventh place to second.
Elevating ESG, however, is tough to deliver. In practice, it is hugely dependent upon good supplier data, which is notoriously hard to achieve and maintain. Exploring why turns the spotlight to its source: suppliers. So, do suppliers themselves cause brands to struggle with data?
Where we really should turn the spotlight is toward the experience suppliers receive as they serve big manufacturing brands.