Conventional procurement methods are those where an organisation obtains its requirements in terms of goods, products and services from the supplier who is deemed the best to provide them. Unlike this usual procurement method, sustainable procurement differs in its nature.
The term sustainable procurement can be defined as the acquisition of goods, products, utilities or services by an organisation such that it profits the organisation financially.
But apart from the net economic gain sustained by the entity in concern, this kind of procurement also leads to upheaval of the society and the general economy at large. Sustainable procurement also leads to minimisation of environmental damage and aims at environmental conservation.
Sustainable procurement processes can be obtained through the following practises
The markets can be driven towards a more sustainable future by adopting sustainable procurement processes by the industry, public sector as well as the clientele. This can be achieved through the following:
- Adopting a foresight that predicts future requirements and thus calls for innovative and sustainable procurement solutions.
- Encourage research and development amongst vendors.
- Ensuring that the procurement policies are synchronised with international government regulations and standards.
- Collaborating with different institutions on developing sustainable procurement processes.
Being such an institution of international repute, these institutes provide sustainable procurement training to individuals who seek to exhibit their mettle in this field.
Ultimately, sustainable procurement techniques will reign supreme and transform the industries and businesses radically.