Free Essay - Review Questions on Supplier Selection

Sustainability is the ability to meet the needs of the present without compromising of the ability of the future generation to meet theirs. There are three main pillars to sustainability namely economics, environment as well as social. Simply, they are people, planets, and profits (Zimmer et al, 2016). The environment pillar has got the most attention in sustainability. Companies today have their focus on the reduction of carbon footprints, packaging wastes, and water and water usage as well as the overall effects on the environment (Konys, 2019). The companies are finding it beneficial to the planet and that it has a positive financial impact. Sustainability calls for lessening the amount of packing materials which will lead to a reduction of spending. Sustainability for the companies that impact the environment in ways such as mining and food production are enhancing sustainability through benchmarking and reduction of processes. This sustainable pillar is discussed in the chapter as it is considered in the selection of the suppliers.

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The social pillar is tied back in the concept of the social license. The pillar provides that the business should support the employees and approve them as well as the other stakeholders in the community of operation. The securing approach and maintenance of the support have different approaches and will come down to the employee treatment fairly and having a good neighborhood as well as becoming good community members (Vörösmarty & Dobos, 2020). This apply both locally and globally. The businesses are focusing on the retention and engagement of the employees and customers. This entail the maternity reliefs and giving them a flexible schedule and the development and learning of the development opportunity. Businesses in the global scale are supposed to understand the supply chain and how it is being filled.

The economic pillar in sustainability is the point that the businesses have the feeling of having a firm ground. For sustainability, the business must be making profit. However that cannot triumph the other two pillars. Profit should not be the point of focus in the sustainable pillars. Factors that fall under the economic pillar include governance as well as the business risk management (Vörösmarty & Dobos, 2020). This pillar is sometimes referred to as governance pillar or what is referred to as the best corporate governance. That means that the directors and the management have an alignment to the interest of the interests as well as the community and the value chain. The inclusion of the economic and profitability make it possible for the company to ensure the attaining of the sustainability goals.

ISO 14000 is the series of international environmental management standards, guides and technical reports. These standards have specified the specific requirements in the on the establishment of the environmental management policy and the determination of the environmental impacts of the company products and services (Vörösmarty & Dobos, 2020). The standards provide a cost-effective tool that use the best practices in the organization and application of information on environmental management.

The choice of the supplier involve very much more than the scan of a series of just the price lists. The choice depend on factors such as the value for money, product quality as well as the reliability and services (Zimmer et al, 2016). To make the process fast, you should follow the set guidelines and have a prior analysis of the requirements from the supplier. This will involve strategic thinking and getting to know what you need from the supplier and identification of the potential suppliers.

References

Konys, A. (2019). Green Supplier Selection Criteria: From a Literature Review to a Comprehensive Knowledge Base. Sustainability, 11(15), 4208.

Vörösmarty, G., & Dobos, I. (2020). A literature review of sustainable supplier evaluation with Data Envelopment Analysis. Journal of Cleaner Production, 121672.

Zimmer, K., Fröhling, M., & Schultmann, F. (2016). Sustainable supplier management–a review of models supporting sustainable supplier selection, monitoring, and development. International Journal of Production Research, 54(5), 1412-1442.