From the course: ESG and Procurement: How to Decarbonize Your Supply Base
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Understanding supplier incentives: What’s in it for them?
From the course: ESG and Procurement: How to Decarbonize Your Supply Base
Understanding supplier incentives: What’s in it for them?
- Aside from gaining supplier commitment through winning hearts and minds, and outlining your expectations, what else could your company do to make a more compelling case? What's in it for the suppliers? Several companies now have supplier recognition programs, to formally recognize and celebrate the supplier's contribution to emissions reduction and the wider ESG agenda. The highlight is an annual award ceremony attended by the top executives of the company and supplier. Glittering awards, the type that can be proudly displayed in the office reception area, are presented to those suppliers who are the best performers. This is also seriously beneficial for the supplier's wider reputation too. A photo of your supplier clutching their award next to your CEO is great publicity for them. It can demonstrate to their suppliers and other customers that they're walking the talk and making real progress. It can be a powerful…
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