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Small Businesses Can Have a Sustainable Supply Chain Too

In my article Data & Socially Responsible Procurement, I discussed how data analytics is located at the intersection of corporate social responsibility (CSR) and procurement. In particular, I explored why CSR is an essential component of modern-day procurement practices and the ways in which data can help organizations achieve their CSR goals. As a follow up, this article will dive into socially responsible procurement for small businesses.

Small businesses – defined as companies with less than 500 employees – make up about 99.7% of all employers in the United States, and, as recently as 2008, were responsible for about 46% of private-sector nonfarm output. The prominence of small businesses in the US economy makes it essential to include them in conversations about CSR and procurement. Faced with greater constraints of scale, how can these organizations maintain sustainable procurement practices?

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Data & Socially Responsible Procurement

CSR is No Longer an Option . . .

In an evolving landscape of regulations, social values, and consumer preferences, the Triple Bottom Line has become an essential framework of business design. The concept underpins Corporate Social Responsibility (CSR) by asserting that growth and profitability should not have negative social and environmental impacts. CSR is becoming an imperative for success, one that procurement plays a central role in. Socially responsible procurement aims to ensure that suppliers are adhering to quality practices in key areas such as diversity and inclusion, environmental protection, health and safety, and human rights.

Adherence to the Triple Bottom Line is more than just the right thing to do; it also comes with a number of competitive business advantages. In particular, it reduces the risk of both supply chain disruption and negative publicity.

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