Ethical procurement refers to the practice of sourcing goods and services in a responsible and transparent manner, ensuring that social, environmental, and legal standards are met. This approach emphasizes fair labor practices, sustainability, and the ethical treatment of suppliers and workers. Ethical procurement encourages organizations to prioritize suppliers who uphold high standards of integrity, respect human rights, and minimize their environmental impact. In supply chain management, adopting ethical procurement practices helps mitigate risks, enhance corporate reputation, and ensure compliance with regulations. It also contributes to long-term business success by fostering sustainable, fair, and transparent supply chain relationships.
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Maverick spending—also referred to as maverick buying, occurs when employees make purchases outside approved procurement processes, policies, or supplier contracts.
Supplier Lifecycle Management (SLM) — also known as Vendor Lifecycle Management — is the end-to-end, strategic management of a supplier
Purchase Requisition Software is a digital solution that standardizes, automates, and governs the process of requesting goods and services before
eSourcing software is a digital platform that automates, standardizes, and governs the strategic sourcing process — from supplier discovery and
Invoice Approval Software automates the review, validation, and authorization of supplier invoices before payment. It ensures that every invoice is
A Supplier Management System (SMS) is an integrated digital platform that centralizes, governs, and optimizes all activities related to suppliers
