The need for responsible sourcing and supply chain sustainability is present and quickly evolving. According to Gartner®, “Supplier sustainability applications enable organizations to collect and assess supplier performance on responsible sourcing requirements covering environmental, social and governance (ESG) issues. They provide organizations the ability to respond to a critical question: How sustainable are my suppliers?”
One of the main challenges in the emerging market is to have a fully flexible approach, where organizations can pick from a menu of potential ESG issues to evaluate their suppliers. As shareholders, decision-makers, and employees are all seeking robust, management-backed sustainable development to strengthen their ESG commitments, they realize that these strategies aren’t only for organizations; they also extend to the supply chain, to enable themselves to align their business practices with the emerging sustainability agenda.
The Benchmark Stewardship™ platform & Supply Chain Sustainability solution complements Benchmark’s broader ESG offering and helps organizations address critical issues including supply chain continuity, supplier risk and performance, product stewardship, and responsible sourcing.
Here From Benchmark’s Sustainable Supply Chain Software Leader
Benchmark Stewardship™ was named as one of 12 vendor offerings in the 2021 Gartner Market Guide for Supplier Sustainability Applications. Gartner mentioned the innate flexibility in the Benchmark ESG™ Responsible Sourcing solution, calling out the comprehensive nature of the entire Benchmark Stewardship™ suite to encompass a broader set of ESG program topics, such as conflict minerals and modern slavery. The solution was recognized by Gartner for its core capabilities of supplier engagement & assessment, data & document collection, supplier performance analysis, and overall domain expertise.
“The pandemic, over the past year and a half, brought supply chain continuity and the impacts of disruption into clear focus. Organizations are quickly ramping up their supply chain risk and sustainability programs to enable improved supplier due diligence and analytics. Companies are making important commitments to their investors and stakeholders around performance both internally and in their supply chain digital solutions are key to enabling that at the operational level,” says Donavan Hornsby, Corporate Development & Strategy Officer, Benchmark ESG.
“The recognition in the market guide is a reflection of Benchmark’s two decades of experience supporting global organizations and their ESG programs, partnering with them to develop best practices and innovations to address emerging risks and ensure business continuity and value across their supply chain.” Benchmark is committed to helping firms reduce their environmental impact while also minimizing their own, both as an enabler of sustainable business practices and as a global corporate citizen. Benchmark subscribers can work to achieve global environmental compliance while also improving the sustainability performance of their global operations via Benchmark’s digital innovation.
Download the Gartner® Market Guide to read more about the Benchmark Stewardship solution, along with other representative vendors, of Supplier Sustainability Applications.