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Benefits of Ethical Sourcing

Similar to incorporating overall sustainability into the procurement process, there are benefits for instituting ethical sourcing within the supply chain. These include:

  • Avoiding non-compliance liability and costs for legal fees, fines, or environmental cleanup
  • Avoiding the risk of damage to the company’s reputation for not being socially and environmentally responsible
  • Increasing the return on investments due to improvements in the health, safety and environmental policies of suppliers in developing countries
  • Improving the efficiency of the supply chain through collaboration, monitoring and audits
  • Increasing competitive advantage due to a more positive corporate image
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