Keep Good ESG Data by Digitizing the Supply Chain
By Costas Xyloyiannis, CEO of HICX
This shift in focus—away from squeezing suppliers and towards collaborating with them—will bode well for brands that want to perform in 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 CPO 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, are suppliers themselves the reason we struggle with data?
The answer is yes, but only reactively. Where we really should turn the spotlight is towards the experience suppliers receive as they serve big manufacturing brands.