Browse Definitions :
Definition

sustainable procurement

Sustainable procurement is the meeting of business needs for materials, goods, utilities and services in an environmentally-friendly, responsible and ethical way.

Companies dedicated to sustainable procurement try to make economical and effective long-term decisions that benefit the company, customers, society and the environment. For example, beyond initial costs of a product, the cost of the product lifecycle are assessed. This assessment includes the product’s cost of acquisition and maintenance as well as costs associated with the end of service time, such as disposal. Once these product considerations are met, a buyer would also avoid products produced by exploitative labor or environmentally-irresponsible producers and would favor fair trade companies. Supply chain sustainability is integral to sustainable procurement.

Economic irresponsibility has always had the capacity to destroy a company. Increasingly, customers also strongly disapprove of irresponsibility to the environment and society -- customers who, in the age of social media, are likely to find about transgressions. Easier access to information and communication also helps consumers respond to corporate malfeasance, sharing information, for example, and organizing boycotts. This consumer pressure and the desire for good public relations helps drive corporate initiatives like sustainable procurement and promotes corporate accountability and transparency.

This was last updated in June 2016

Continue Reading About sustainable procurement

SearchCompliance

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • PKI (public key infrastructure)

    PKI (public key infrastructure) is the underlying framework that enables entities -- users and servers -- to securely exchange ...

  • obfuscation

    Obfuscation means to make something difficult to understand.

  • dumpster diving

    Dumpster diving is looking for treasure in someone else's trash.

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close