Triad of cost optimisation, resilience and ESG

The time when procurement managers from companies in the process industries could focus solely on price is over, at the latest since the Coronavirus pandemic. The massive disruptions in supply chains and the growing awareness of the consequences of climate change have turned harmony into a triad: Procurement departments are not only responsible for negotiating a good price but also have to ensure a stable supply and consider sustainability criteria when selecting suppliers. The European Union and some other countries already have a supply chain law that go beyond what national governments require of their companies.