Sustainability
Sustainability is about meeting the needs of the present, without compromising the ability of future generations to meet their needs. In practice, this means adopting a broader range of decision-making criteria than traditional economic criteria. Corporate social responsibility [CSR] and triple bottom line considerations extend procurement decision-making criteria away from just price and quality to include the environmental merits, as well as the social impacts of alternative solutions.
Put the term to work
Definitions are the easy part. Talk to us about applying them in your procurement function.