Initially driven by federal, state and local government procurement agencies, requirements and executive mandates, sustainable purchasing is quickly becoming a widespread best practice for businesses of all kinds. Government agencies were the first to dive in and experience both the challenges and advantages of purchasing goods that support human health and the environment. But thanks to the many benefits associated with selecting greener products and services, sustainable procurement is now coming to a local business near you.
Over the years, this practice has yielded significant benefits, causing more and more manufacturers to offer goods with reduced environmental impact. This, in turn, further increased the adoption among procurement professionals, who had more sustainable options available to choose from. The virtuous cycle has proliferated, leading private companies to join in and establish their own sustainable procurement practices.
Even with a new federal administration at the helm, companies are unlikely to abandon their sustainability efforts. From local authorities to Fortune 500 companies, forward-thinking organizations have now established sustainability as a major tenet of their businesses and many are reaping big benefits not to mention helping to create a better environment for the future.
If your business has not considered the benefits of joining the sustainability bandwagon, we recommend evaluating some of the benefits.
- Meet the demands of a growing number of environmentally aware consumers.
- Gain visibility into your supply chain that could reveal other issues early.
- Avoid penalties, fees or even litigation associated with violation of increasing legislation that protects against harmful products that pose a threat to human health or the environment.
- Reduce costs through increased efficiency and reduced waste.
Over time, companies that were once hesitant can realize real financial benefits associated with sustainable procurement. If you have not considered the benefits for your company, take some time to learn about the sustainable procurement opportunity:
- Reduced water, energy, and waste generation
- Increased productivity
- Reduced manufacturing expenses
- Increased revenue and market share
- Easier financing
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