Sustainable and circular procurement is a process of acquiring goods or services which aims to maximise environmental, social and economic benefits throughout the life cycle.
By adopting sustainable and circular procurement practices, businesses contribute to a greener and more resilient economy. This also includes favouring, where possible, suppliers engaged in ecological and ethical practices, which reduces the overall environmental impact. This approach will help reduce acquisition costs in the long term as products last longer and are reused. In addition, it strengthens the company’s image by positioning it as a responsible player committed to protecting the environment and social values. By promoting these ethical and sustainable practices, companies also improve the resilience of their supply chain, making it less vulnerable to disruptions and fluctuations in resources.
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