Sustainable Sourcing: Ensuring Long-term Business Success

Sustainable Sourcing - Ensuring Long-term Business Success

Sustainable sourcing is the integration of social, ethical and environmental performance factors into the process of selecting suppliers. As a proponent of clean and green energy, REDEX strives to ensure that we work with fellow sustainability-conscious partners, including our vendors whom we procure goods from.

Why embrace sustainable sourcing?

Partnering with sustainable suppliers offers multiple benefits for businesses, the environment, and society. These benefits include:

Reduced Environmental Footprint

With their focus on minimising environmental harm, sustainable suppliers strive to integrate eco-friendly practices such as carbon reduction, water conservation, and sourcing renewable materials into their operations. Working with these suppliers helps businesses to reduce their Scope 3 emissions.

Potential Cost Savings

Sustainable products may be less costly in the long run. Sustainable suppliers tend to use higher quality materials for product durability and utilise more efficient and effective production methods that result in less wastage, resulting in lower costs for customers in the long run.

Enhance Brand Reputation

With consumers increasingly concerned about ESG issues, businesses can work with sustainable supplies to boost their reputation and trust levels with environmentally conscious customers, attracting a more loyal market segment.

Compliance and Risk Management

Increasingly, countries around the world are implementing and tightening regulations around ESG matters. Through sustainable sourcing, businesses can ensure compliance with these regulations, reducing legal and regulatory risks.

Competitive Advantage

With increasing global regulation pertaining to sustainability, it is essential for companies to embrace sustainability to continue doing business and be able to seize new opportunities. By greening their supply chain and ensuring compliance with regulatory frameworks, businesses may gain a competitive edge over their rivals which have not integrated sustainability into their operations.

Social Responsibility

Sustainable suppliers often adhere to fair labour practices, contribute to the well-being of communities and support environmental concerns. By supporting sustainable vendors, businesses also contribute to social good, supporting human rights, fair wages, ethical production standards, and environmental protection.

Long-Term Viability

Sustainability is also about long-term viability of the supply chain. Unsustainable business practices put companies at risk from disruptions in their supply chain. By sourcing from sustainable suppliers, businesses contribute to the long-term health of the planet and its resources, ensuring that supply chains remain sustainable and resilient in the future.

REDEX Partners with Sustainable Suppliers

Sustainable Sourcing - Ensuring Long-term Business Success
REDEX procured our corporate mugs from sustainable supplier DTC World.

Sustainable sourcing is not just about environmental responsibility, but also about ensuring long-term business success, reducing risks, and gaining a competitive edge.

At REDEX, we work with partners who embrace sustainability. For instance, we source our corporate mug from DTC World, a premiums and point-of-sale merchandise solution and global fulfilment company which has ambitious decarbonisation goals. The company hopes to achieve carbon neutrality for Scope 1 and 2 GHG emissions by 2030 and works with its value chain to reduce Scope 3 GHG emissions.

Like REDEX, DTC World is a member of the United Nations Global Compact Network Singapore. We share a strong commitment to advancing sustainability and forging a more sustainable future founded on the Ten Principles of the United Nations Global Compact and the Sustainable Development Goals. Through collaboration, REDEX and DTC World would be able to mutually enhance credibility and strengthen trust among our stakeholders, while paving the way for a cleaner and greener earth for current and future generations.

By partnering with sustainable suppliers such as DTC World, REDEX is supporting companies which are reducing their carbon footprint, in line with our mission to accelerate the global transition to net zero.