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Sustainable Procurement Practices

oboloo Glossary

Sustainable Procurement Practices

Sustainable procurement practices are defined as the sourcing and acquisition of goods, services, works, and utilities from external suppliers in a way that optimizes economic, social, and environmental outcomes over the entire life cycle. Sustainable procurement helps organizations achieve positive impacts on the environment, society, and the economy, while ensuring that their own mission objectives and performance goals are met. As such, these practices represent an innovative approach to cost savings and value creation for organizations, which can be achieved through careful planning and collaboration with external partners.

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