Leveraging buying power

The financial sector has a significant impact on financial markets by controlling access to capital. Similarly, vendor management and IT procurement plays a significant role in transforming your vendor landscape. As the general trend moves toward “as-a-service models,” the shift of greenhouse gas emissions moves from your internal scopes 1 and 2 to external scope 3. Just because you get rid of something internally and transition it to a vendor does not mean that you are still not responsible for your entire value chain, including scopes 1, 2, and 3. Using different levers to drive down greenhouse gas emissions would be best. Leveraging your buying power is essential to transform your entire value chain from your hardware, software, and professional service providers. It starts by asking tough questions, enforcing a stricter vendor code of conduct, and imposing challenging sustainability requirements in bids and master service agreements. Additionally...