Regenerative procurement strategies are at the forefront of our minds as sourcing teams face pressure to achieve overarching ESG goals while still meeting strict pricing requirements. Over the last few months, we spoke to procurement professionals across the industry to discuss overcoming these obstacles of scale, price, and supply system resilience.
Below, we’ll share five strategies to consider when facing these challenges.
See the Bigger Picture
When it comes to sourcing ingredients and setting goals, contextualizing the larger system is important. It’s important to be cognizant of all of the surrounding factors and our community when thinking about procurement.
Actively Engage with your Supply System
Communication and collaboration with farmers are key to building a fully regenerative relationship and supply system. Understanding and addressing farmer’s needs and integrating them within the goals of a company are critical to building a strong supplier-brand partnership
Partnerships with Aligned Values
As consumers are increasingly seeking to buy from companies that align with their values, collaborative partnerships can ease the difficulties of transitioning to and maintaining a regenerative and/or sustainable supply system.
Capture Consumer’s Attention
In order to effectively communicate to consumers the benefits of regenerative agriculture, education is crucial. Highlight the power of storytelling in order to educate consumers in an accessible way.
Innovative Thought
Although sustainable thinking has come to the forefront of many consumer’s minds, innovation is still needed in the space to push industries to become regenerative.
It is time to move away from the linear way of thinking about the supply chain. In order to do this, we must gear our thinking towards creating a regenerative supply system. These five strategies are only the beginning when overcoming obstacles within sustainable procurement. HowGood’s Latis Procurement module also offers actionable insights allowing procurement teams to analyze their sourcing portfolio and shape regenerative procurement strategies.
