The Role of Ethics in Modern Procurement Strategies

Ethics in procurement has become more critical than ever due to evolving global challenges and heightened scrutiny on corporate social responsibility. Companies are under pressure to meet the increasing ESG standards in their own operations and value chain activities. Procurement is under the dilemmas in making the balance between responsible sourcing and cost efficiency, especially under the current geopolitical and economic uncertainty.
This session will discuss the latest challenges in procurement including ethical sourcing, supply risks, ESG expectations, Scope 3 emission reduction, ethical implications under the geopolitical and economic uncertainty. How could procurement meet these challenges? Is there any opportunity for procurement to explore like adoption of AI?

Learnings

• What are the emerging challenges and risks in modern procurement?
• How can ethical procurement increase the competitive advantage of companies?
• How can procurement balance the profitability and ethical responsibility?
• How would the latest technology help procurement to meet those ethical responsibilities?

Post-Event Actions

• To keep update on the ESG related requirements on supply chain management.
• To explore the adoption of AI in making ethical procurement decisions.
• To incorporate the sustainable and social responsible criteria in your procurement management.