Supply chain transparency is all about communicating the environmental, social and ethical aspects of a company’s sourcing methods. This consists of information about products and how they were made, including working conditions, environmental practices and business ethics.
Providing this information is important as consumers are becoming increasingly more aware of sustainable and ethical practice in business. According to researchers at the MIT Sloan School of Management, consumers are willing to pay up to 10% more for products from companies that provide greater supply chain transparency. This is why Bunzl is a member of recognised supplier data exchange organisations like EcoVadis and Sedex.
Felicity Kelly, Bunzl’s Head of Sustainability, explains that, “Aligning with organisations like these ensures we operate with the highest transparency standards, and allows our customers to easily access supply chain information.”
EcoVadis is one of the world’s largest provider of sustainability ratings. Their work helps businesses to reduce risk, drive performance and improve environmental and social outcomes. Bunzl submitted their policies and documented processes to EcoVadis for review and were awarded in recognition of their sustainability achievement.
Similarly, Sedex is the world’s leading ethical trade membership organisation. As a seller member of Sedex, Bunzl provides information on labour standards, health and safety, and environment and business ethics. All four pillars account for relevant legal requirements, international standards and good practice. Through these partnerships, Bunzl will continually work to improve responsible business practices while also seeking to build a sustainable network.
