Purchasing & Procurement, Supplier News

What is sustainable procurement and why is it important to our public sector economy?

Sustainable Procurement means improving the efficiency by which public money is spent, while at the same time using market power to bring about major environmental and social benefits locally, nationally and globally. It is the process of purchasing goods, services that takes into account the social, economic and environmental impact that such purchasing has on people and communities while still achieving value.

Sustainable Procurement does the following: reduces waste, carbon emissions, energy and water consumption, protects biodiversity, stops the buying from unsustainable sources, support fair and sustainable economic growth, and deliver social benefits through procurement.

eProcurement can help overcome these issues thanks to the way it streamlines processes, speeds up timeframes, reduces overheads and helps open up marketplaces. In essence, a next-generation eProcurement system will enable:

  • Quicker, easier sourcing and engagement of new suppliers.
  • Elimination of paper, ink and machines to produce paper documents
  • Easier and more direct access to sustainable products and services, over a wider geographical area, via e-catalogs.
  • Automated management, better visibility and more centralized control of existing suppliers.
  • Tighter ongoing management, reviewing, and checking of suppliers.

Public procurement and the Public Sector desperately need to eliminate costs and waste at large numbers in this new economy and this new industry does that multiple times over.

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