• With businesses, suppliers, customers and the community prioritizing the need for sustainable and ethical choices throughout all business processes - procurement plays an important role in aligning expectations in the decision-making process.

    • Procurement driving sustainable and ethical decisions 

      Due to procurement's integral role in a business' success, they must consistently work to meet business and customer demands and expectations. Making sustainable and ethical choices when purchasing goods and services is becoming increasingly important for all stakeholders. From transparency of suppliers to sourcing materials or services sustainably, procurement teams need access to specific resources to help make the right decisions. 

      Increasing levels of digitization in organizations' systems and processes means rising levels of complexity, increasing the need for clarity and compliance within the procurement team. Supporting these teams to allow this function to perform effectively and efficiently will have a positive flow-on effect to the entire business - ensuring expectations and budgets are met. 


      Standards in procurement 

      Procurement teams work hard to source the best goods and services possible for their organization. 'Best' can mean lots of different things though: Is it the best quality? Is it the best price? Is it the best ethical option? Is it the precise item needed by the company, or is it just sufficient? And most importantly, does the item meet the requirements of the business?  

      Standards are vital throughout the procurement process, where they can help shape decisions based on best practice approaches for sustainability and ethical efforts, as well as provide an understanding for what works well for the business. For example, ISO 20400 provides guidance to organizations, independent of their activity or size, on integrating sustainability within procurement. 

      Here are 5 ways Standards are helping procurement teams make the right decisions:

      • 1. Flexible Standards, flexible teams 

        With internal and external factors influencing business decisions, there needs to be flexibility in each department to become resilient to changes. This is no different for a procurement team. Changes to cash flow and profits can limit options when purchasing goods and services for the business, where Standards play a vital role in steering decisions regardless of circumstances. This makes access to the right Standards, whenever they are needed, essential.  

        Cost transparency is an inherent concept within procurement, where Standards supporting the team can be scaled to the ever-changing needs of the business. 


        2. Customized Standards collections 


        As businesses develop, expand product offerings, enter new markets or simply want to streamline processes - customized collections of Standards can help. From new product development requirements to International Standards specifying how to ensure products comply to regulations in different countries, creating a customized collection of the Standards for each project and task can improve the quality and safety, reduce wasted time, boost productivity and help a business grow. 


        3. Auto-approvals for streamlined working 


        To reduce wasted time on projects, improve efficiencies and remain compliant, auto-approvals for Standards are a must. With pre-determined approvals, processes can run smoother and faster. Pre-determined approvals also remove any risk of double purchasing Standards and excess budget spend across organizations.  


        4. Control your Standards spending 


        A system that not only oversees, but also controls the Standards budgets invaluable. While approvals can be swift and processes streamlined, it is just as important to grasp an understanding of how much needs to be allocated towards Standards, how much is being spent and where there may be potential to save. 

        “We see what's been used, where and what it's costing. The sharing of Standards information has improved how our teams work together and save costs” - SAIPEM 


        5. Everything you need, nothing you don't 


        Understanding which Standards are being utilized, and which may not contribute to the business is just as important. Purchasing Standards in bundles may seem appealing, however identifying what Standards are being used and only purchasing what is actually needed goes a long way to reducing overall Standards costs. 


        Success with the right procurement process 


        Prioritizing the use of Standards can improve business operations and efficiencies across the board. Within procurement, they can guide decision making processes to ensure business objectives and stakeholder expectations are met. With customers and suppliers looking for products and brands they can trust, Standards are the building blocks for any business. Be confident that products and services are meeting every applicable Standard, in every market, around the globe today.

        • The importance of procurement

          Procurement plays crucial a role that directly impacts a company's profit and success.

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