ATLANTA, June 20, 2017 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (PRGX) and the Chartered Institute of Procurement & Supply (CIPS) today have jointly announced new sustainability reporting features in the CIPS Sustainability Index (CSI) platform, including modern slavery supplier assessment capabilities.
This release of CSI introduces a robust new reporting suite for suppliers and buyers covering four key areas of potential supply chain risk:
- Modern Slavery
- Social Value
- Legal Compliance
- International Conventions
Since September 2016, all CSI-rated suppliers have provided additional data to support newly-introduced theme reports. This will help suppliers benchmark sustainability performance in these four areas for prospective and existing buyers.
To accompany this expanded reporting within CSI, suppliers not only see their areas of strength, they are also provided with online guidance in areas that are identified as needing improvement. Suppliers can then address areas for these improvements and provide evidence to buyers of their action plans.
"The enactment of the UK Modern Slavery Act reflects an increased need for transparency in supply chains," said Frank Harbist, VP and General Manager for Supplier Information Management (SIM) at Lavante, Inc., PRGX`s SIM-focused subsidiary. "Legal changes and shifting priorities from stakeholders, consumers, governments and interest groups mean that suppliers must demonstrate their sustainability credentials to their prospective and existing clients."
"For buying organisations, too," adds Gerry Walsh, Global CEO, CIPS, "the operational, financial and reputational risk to them, from failure to understand the sustainability credentials of their suppliers has never been higher. This is why we`re delighted that, working with PRGX, we are now able to provide buyers with an indication of supplier performance in these key areas, particularly, modern slavery, which we have worked hard to eradicate from supply chains.
"Against each of these new themes, buyers can see whether a theme report is applicable to their supplier and an indication of how well their suppliers are performing, helping them to gain greater supply chain transparency and highlight areas of potential risk from an operational, financial and/or reputational perspective."
About CIPS Sustainability Index
CSI benchmarks suppliers` organisational sustainability using an independent, cross-sector financial, social and environmental supplier audit. For buyers, CSI gives a more detailed view of supply chains and reduces supplier risk. For suppliers, the tool offers evidence of excellence in sustainability to industry-approved standards, strengthening information-sharing with customers and supporting new business wins.
About CIPS - The Chartered Institute of Procurement & Supply
The Chartered Institute of Procurement & Supply (CIPS) is the leading international body representing purchasing and supply management professionals. It is the worldwide centre of excellence on purchasing and supply management issues. CIPS has a global community of 115,000 in 150 different countries, including senior business people, high-ranking civil servants and leading academics. The activities of purchasing and supply chain professionals have a major impact on the profitability and efficiency of all types of organisation and CIPS offers corporate solutions packages to improve business profitability. www.cips.org, @CIPSnews.
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,400 employees, PRGX serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 30% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, PRGX provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients` financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com
Trudy Salandiak; CIPS PR Manager; email@example.com; +44 (0) 1780 761576; 07554 400 731
Michele Mahon; firstname.lastname@example.org; +1 770 779 3212
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Source: PRGX Global, Inc. via GlobeNewswire