Asset Management
October 17, 2023
Leveraging Sustainable Procurement to become a “Greener” Manufacturer
As manufacturers have growing concerns about their ‘green’ image, sustainable operation is now the focus. One of the best strategies that EquipNet helps its partners participate in is sustainable procurement.
“Nearly 85% of companies recognize the importance of sustainable procurement, but only 46% fully implemented such practices” – ZipDo, Aug 2023.
What does it look like?
Sustainable procurement is a strategic approach to sourcing and purchasing that goes beyond traditional cost-cutting measures. It focuses on long-term value, environmental impact, social responsibility, and innovation. The goal is to optimize the procurement process to benefit not only the bottom line but also the planet.
Usually only associated with sourcing raw materials and components, a much lesser-considered approach to sustainable procurement is sourcing pre-owned equipment. In doing so, companies extend the useful life of the machinery, reduce demand for new manufacturing, and minimize the environmental impact associated with the production of new equipment. This approach conserves valuable resources and reduces waste by diverting used equipment from landfills. Any manufacturer that calls themselves ‘sustainable’ should always aim to create a circular economy where materials are reused or repurposed rather than disposed of.
What are the benefits of choosing a sustainable procurement strategy?
- Compliance: Meeting sustainability standards and regulations is no longer just an afterthought but an essential part of running a modern business. Adopting sustainable procurement strategies can help manufacturers comply with evolving environmental and social responsibility requirements such as the UN SDGs.
- Enhanced Reputation: Consumers are more conscious than ever. Many people now want to know the environmental and social impact of each product they buy. Demonstrating a commitment to sustainability through sustainable procurement can enhance a manufacturer’s reputation and customer loyalty.
- Innovation and Resilience: This kind of procurement sparks innovation in product design and manufacturing processes, leading to more resilient and adaptable operations.
Incorporating sustainable procurement into manufacturing operations is a powerful way to drive and ensure long-term sustainability goals. By sourcing responsibly, reducing waste and optimizing processes, manufacturers can reduce their impact, lower costs and position themselves as leaders in a world that increasingly values sustainability. Embracing this procurement method is not just a strategic choice; it’s one of the best steps toward a healthier business model.
Whether you want to learn more about EquipNet Programs or purchase from our global marketplace of equipment, our team is always available to help our partners take steps towards more sustainable opportunities.
Categorias: Asset Management , Sustainability
