To help companies better monitor supply chain performance and advance sustainable purchasing, supplier collaboration platform Tradeshift has partnered with EcoVadis, creator of the first collaborative platform providing supplier sustainability ratings for global supply chains.
The partnership will give Tradeshift customers access to EcoVadis’ supplier sustainability ratings.
Companies are under ever-increasing pressure to manage risk and improve environmental, social, and ethical performance in their supply base. This partnership will make it easier for them to accomplish these goals, the companies say.
EcoVadis develops global CSR scorecards with ratings that help organizations manage risk. The partnership will integrate EcoVadis’ CSRrRatings with Tradeshift’s global supply chain platform to benefit both buyers and suppliers, the partners say. It gives users a platform for supplier sustainability management and procurement processes all in one place.
Buyers on the Tradeshift platform will be able to make better procurement decisions, and see a complete view of the CSR performance and sustainability ratings of their supply chain, exposing risks that could lead to brand damage or supply disruption, reducing costs and driving improvements.
Suppliers will also experience the power of the partnership by being able to measure, improve and capitalize on their sustainable business practices, thereby strengthening their brands in front of a large audience of businesses.
Outside of certain industries such as high tech and retail, procurement organizations haven’t universally defined and adopted sustainability key performance indicators (KPIs), according to research by EcoVadis.