The Better Buying Institute (BBI) is inviting non-apparel companies to subscribe to its Better Buying Partnership IndexTM (BBPI) to take the lead in relation to mandatory human rights due diligence reporting requirements.
In particular, subscribers will be able to conform with the requirements of Germany’s new Corporate Due Diligence in Supply Chains Act, and forthcoming EU legislation, by leveraging the detailed research to identify, prevent and address human rights and environmental abuses in their operations.
Research published by BBI earlier this year substantiated that poor brand and retailer purchasing practices are a key driver of human rights abuses in global supply chains.
BBI advises companies looking to comply with human rights due diligence requirements to read the research, and then subscribe to the BBPI. The short, anonymous supplier survey is suitable for all industries and business sectors, and provides companies with a snapshot of the quality of their buyer-supplier partnerships, and the purchasing practices they need to improve.
Companies that subscribe receive a unique score and company report, and are rated as either a True Partner, a Collaborator, or a Detractor, to their suppliers. Armed with this data, they can compare their performance against the industry benchmark, and gain valuable insights into where they need to focus their improvement efforts.
A range of business benefits is enjoyed by companies already subscribed with Better Buying TM, including more stable, resilient supply chains, reduced reputational risk, enhanced productivity, quality and efficiency, and reduced waste.
Dr. Marsha Dickson, President and Co-Founder of Better Buying Institute, comments:
“The BBPI is a great route into human rights due diligence compliance. It gets companies asking the right kinds of questions so they can take the lead and, if they subscribe year over year, provides evidence of progress and impact which can also be shared with investors and senior executives.
“The BBPI can be used across multiple sectors and industries, as well as in multiple supply chain tiers, too, such as packaging, logistics, raw materials and finishing. It’s simple, and it’s versatile. And companies that want to dig deeper into their purchasing practices and transform their buyer-supplier partnerships can subscribe to the longer, more detailed Better Buying Purchasing Practices IndexTM.”
Better BuyingTM also offers E-learning for brands and retailers looking to embed responsible purchasing practices across their supply chains. The course, on the Five Principles of Responsible PurchasingTM, is based on Better Buying’s unique, independent research, supplier data and insights, and was developed with some of its leading brand subscribers. It is relevant to multiple job functions and departments within a brand or retailer company, enables participants to understand how their day-to-day decisions impact suppliers and workers in their supply chains, and empowers them to identify the changes needed to incorporate responsible purchasing practices.
To find out more about how your company can subscribe to the Better Buying Partnership IndexTM, and the Five Principles E-Learning course, contact Leonie Abraham, Vice President of Business Development at Better Buying Institute.