Social Procurement & Local Sourcing
Australian companies who consistently direct spend to social enterprises are generating a clear competitive advantage over their rivals and accessing new levers for value creation.
Today, the globalised economy is characterised by complex inter-relationships between the business, its suppliers, local communities, employees and shareholders. The lines between are often blurred and rarely linear. Failure by companies to understand the intricacies within this ‘ecosystem’ environment and connect their profitability with positive social impact will miss accessing new streams of competitive advantage and measurable outcomes for shareholders.
The Faculty is helping corporates to capitalise on this opportunity through targeted social procurement initiatives, including:
- Publishing baseline research into best practice Social Procurement policy, process and outcomes
- Design, development and delivery of a bespoke local sourcing frameworks, business models and policy & procedures
- Developing a Local Procurement Policy to create a shared vision and public commitment
- Conducting social procurement scoping workshops to evaluate potential for change based on existing category management frameworks
Latest Research - Corporate Social Procurement in Australia
"Companies should think of every dollar they spend in the supply chain as a 'potential' tool for social good" - Marius Kloppers, former CEO BHP Billiton
The Faculty, in association with Social Traders, has released a report investigating the current state of social procurement practices in corporate Australia.
Based on a literature review and survey of current social procurement activities, the report features five best practice case studies from Australian businesses: Transfield, Thiess, NAB, Rio Tinto and Telstra.
Access your copy of the report here