Transparency in tendering and sustainability

In order to understand transparency in tendering, it is necessary to address "transparency" itself. It is also necessary to analyse how this concept relates to sustainability. Transparency is a concept that organisations around the world are increasingly promoting. Within their internal procedures or in the face of audiences.

Transparency has become an extremely important asset. It is capable of driving important competitive advantages. Ultimately, transparency is the fuel that runs the complex and sophisticated engine called "sustainability". 

Sustainability occurs when an organisation takes into account social, economic and environmental criteria. In this way, business continuity is ensured. With sustainability, a company focuses on satisfying its stakeholder relationships. These stakeholders are made up of a large list of stakeholders. The main ones are employees, customers, suppliers, shareholders and the community. 

Sustainability is equally relevant when it comes to sourcing and supply chains. The reason is that today's consumer is more critical about the origin of the materials used. They are also concerned about the production methods and the working conditions of the workers who produced them.

Sustainable supply chains

A sustainable supply chain should be composed of three key elements. First, establish sustainability as a core business value. Second, promote competition. And third, promote transparency in all processes.

When there is more competition, procurement management is opened up to all potential suppliers within the market. This avoids commercial monopolies and promotes free competition as a standard. This is what we mean when we talk about transparency in tendering. 

In the context of corporate procurement, transparency in tendering also means that processes are recorded and easily accessible to interested parties. This creates traceability. This is the necessary ingredient for accountability. It is the guarantee that a fair process is taking place.

Finally, having the possibility to revisit what was recorded opens the door to various analyses. With the data at hand, it is possible to identify areas for improvement. Purchasing strategies that promote not only sustainability but also savings can then be developed.

Today, hundreds of companies in the Latin American region are benefiting from implementing digital platforms for industrial procurement such as wherEX, where transparency and traceability are guaranteed in every transaction.