Many experts use the principles of the Triple Bottom Line (TBL) to create a sustainability business model. TBL drives corporations to focus on environmental and social values, not just on economic values.
The concepts of TBL are also sometimes referred to as the three Ps (people, planet, and profit) or three Es (economics, equity, and environment).
Procurement and the Triple Bottom Line
Applying the principles of Triple Bottom Line to procurement would drive actions such as the following:
Reduction in total supply chain cost
Responsible use of resources
Safe working conditions
Effective use of capital assets
Responsible waste management
Best value for money
Conservation of energy
Optimization of transportation
Life cycle environmental impact
Environmentally friendly materials
Supplier evaluation and development
Adherence to standards and legislation