the aim of “ placing [ it ] firmly on the business agenda ” in growing markets such as China and India .
At a more granular level , a greater focus on data and new technologies is being used to build more trust in the procurement function . The biggest challenge , according to Industries President at IFS , Antony Bourne , is the “ ability to acquire and trust the data collated on suppliers ”. As a result , he says , emerging technology such as the Internet of Things ( IoT ), blockchain and artificial intelligence ( AI ) will play a major role in addressing environmental concerns through “ complete traceability to allow sustainability decisions to be made , therefore increasing productivity , lowering costs , while minimising environmental footprint and impact . In a world moving towards a more sustainable future , those which don ’ t embrace the necessary technologies now risk getting left behind .”
Sustainability continues to be a key driver of the procurement processes for businesses , seeigreater emphasis on the role of CPOs and the teams they work with . In an increasingly global business environment where suppliers stretch across emerging markets that challenge only amplifies . The pay off , of course , is well worth that challenge , as Worrall explains : “ our ambition is to put sustainable procurement on the agenda of every single company . It is far from charity work ; it serves a specific business purpose , and it serves it well , and this is the type of example that every company should be setting in the coming years ”.
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