EBG | Play: Sustainability due diligence and governance for procurement in 2023

The webinar “Sustainability Due Diligence and Governance for Procurement in 2023” brought together industry thought leaders to explore one of the most pressing challenges faced by procurement today—achieving sustainable supply chain practices amidst rising regulatory demands and market expectations.

Hosted by Anna Bjärkerud from EBG | Network, the session featured insights from:

• Sara Fossum, Sustainability Manager, Laerdal Medical
• Jonathan Eriksson, Manager, Capgemini Invent
• Henrik Nyberg, Nordic Sales Director, Ivalua

The discussion revolved around the transformative journey procurement must undertake to navigate sustainability due diligence, data challenges, supplier collaboration and compliance with evolving regulations. The session provided actionable insights to help attendees prioritize efforts, utilize data effectively and align procurement strategies with broader sustainability goals.

Watch the On Demand recording

Click the image below to re-watch the recording.

Key Takeaways

1. Sustainability as a Shared Responsibility:
   • Organizations must foster leadership buy-in and integrate sustainability into procurement and supply chain management.
   • Collaboration with suppliers is essential for achieving shared goals and uncovering innovative solutions.
     
2. Data Challenges and Solutions:
   • High-quality, granular data is crucial. Transition from spend-based assessments to activity-based or supplier-provided data.
   • Use lifecycle assessments and platforms like Ivalua and EcoVadis for data collection and analysis.
     
3. Regulatory Compliance as a Catalyst:
   • Structured risk segmentation models help prioritize efforts where the impact is greatest.
   • Compliance must be proactive, with ongoing assessments across the supplier lifecycle.
     
4. Supplier Engagement for Better Outcomes:
   • Initiatives like Laerdal Medical’s Supplier Sustainability Awards drive supplier engagement and innovation.
   • Engaging suppliers early in the process ensures more sustainable partnerships.
     
5. Cost vs. Sustainability:
   • Balancing sustainability with cost pressures remains a challenge.
   • Incremental improvements, strategic prioritization and leveraging technology can address this dilemma.
     
6. Building a Long-Term Strategy:
   • Sustainability is a marathon, not a sprint. Commit to continuous improvement and embed sustainability into procurement processes.
   • Align sustainability metrics with operational decisions for lasting impact.

This webinar emphasized that sustainability in procurement is not just about regulatory compliance but about creating value for businesses, suppliers and society. By adopting a holistic, data-driven and collaborative approach, organizations can transform sustainability from a challenge into an opportunity for growth and innovation.

About Ivalua

Ivalua is a leading provider of cloud-based Spend Management software. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity. We are trusted by hundreds of the world’s most admired brands and recognized as a leader by Gartner and other analysts. Learn more at ivalua.com. Follow us at @Ivalua.

About Laerdal Medical

Laerdal is dedicated to the mission of Helping Save Lives. We will do this through the advancement of resuscitation, patient safety and quality of healthcare, and saving lives at birth in low-resource settings. 

To achieve our goal, we will be working with enabling technologies, collaborative initiatives, and early interventions with high lifesaving potential and low cost to society.About The Laerdal Group

About Capgemini invent

By combining strategy, technology, data science, creative design, and engineering expertise with an inventive mindset, we partner with our clients to innovate and transform their business, enabling them to navigate today, while plotting a course for the future.

Other Ivalua resources

EBG | Play: How can Procurement respond to uncertainty?

EBG | Play: PwC on Supply Chain Optimization: with or without Procurement