Threading the Supply Chain Needle

Get practical steps to improving supply chain resilience and sustainability in this e-book. By enabling supply chain, procurement, and finance teams to work together, your organization can make smarter, faster supply chain decisions, and thus minimize risk and maximize profitability and sustainability.

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Learn how to break down departmental silos and design resilient and sustainable supply chains.

Download this e-book to learn:

  • Why collaboration between procurement, supply chain, and finance is essential for supply chain resilience and sustainability
  • Practical steps to breaking down silos and improving collaboration across these various teams
  • How to build a more resilient supply chain and make smarter, faster decisions to improve sustainability
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With supply chain disruption becoming more and more common, and with the implementation of new ESG regulations, your organization's supply chain, procurement, and finance teams must join forces to improve visibility into real-time data and make smarter, faster decisions to improve supply chain resilience.

With the right technology and processes, it is possible to overcome the challenges that usually prevent these teams from collaborating. As a result, you can guide your organization to greater profitability, resilience, and sustainability.

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How are business leaders reacting to new regulations such as the German Supply Chain Due Diligence Act, as well as other pressures from changes in the supply chain?

According to a survey of 800 business leaders, conducted by Coupa Software, many business leaders have raised the importance of Environmental, Social, and Governance goals as they make spending decisions. Ninety-four percent of business leaders claim that improved energy efficiency is a top ESG priority, 91% claim cutting greenhouse gas emissions is a top priority, 89% of leaders claim that eliminating modern slavery is a top priority, 89% also claim that improving supply chain diversity is a top priority, and 87% claim that reducing deforestation is a top priority.

Meanwhile, nearly two-thirds of businesses cannot tell if their closest supply chain partners are meeting any kind of ESG standard.

What is Business Spend? What are the main categories of spend within the supply chain?

Business Spend is an amount of money spent over a specific period of time by a business to achieve a desired outcome. Spend includes the capital expense and operational costs for a company, including cost of goods sold and other operating expenses, often called selling, general, and administrative (SG&A) expenses.

Within the supply chain, there are four main categories of spend. First are the operational expenses for sourcing, making, and delivering products. The second category of spend is for working capital, which is related to building inventory buffers and safety stock. A third category is capital investments that facilitate growth and expansion, such as investment in new facilities or the expansion of capacity. The final category is MRO (Maintenance, Repair, & Operations) materials and parts needed to support production and distribution activities.

What are the top three barriers to assessing ESG risk of supply chain partners?

The first barrier, which 48% of business leaders experience, is a lack of data on suppliers' ESG credentials. Second, 40% of respondents claim that limited financial resources prevents them from assessing ESG risk. Third, 36% of business leaders surveyed claim that their reliance on technology that isn't designed for ESG compliance is what keeps them from adequately evaluating their supply chain partners' ESG risk.

To address the mounting pressures and find new opportunities, supply chain, finance, and procurement must work together to make smarter, better, and faster decisions around a supply chain designed to meet the overall business goals. And in order to achieve these goals, organizations need technologies and processes that make it easier to bring together inputs and requirements from procurement, supply chain, and finance.
Threading the Supply Chain Needle e-book