This free, open-source, generic, CFO-friendly cost-benefit analysis tool can be used to justify a sustainable procurement system. Users treat the implementation of a sustainable procurement system as a project and assess the opportunities and risks associated with the initiative.
- RFP Specifications Template: This template outlines traditional and new product and supplier decision-making criteria that CFOs and sustainable procurement experts say should be considered when making purchasing decisions in the 21st century. The Request For Proposal (RFP) Specifications Template is designed to help buyers send a strong signal to suppliers that sustainability matters, both at the product level and the company level.
- Bid Evaluation Tool: This ready-to-use template uses a CFO-recommended multi-criteria analysis (MCA) structured decision-making approach to evaluate supplier bids. By assigning weights to the importance of non-financial attributes of the products and of the supplier companies, it helps avoid the lowest-price-is-the-only-thing-that-matters trap.
- Total Cost of Ownership (TCO) Tool: This fill-in-the-blanks Excel worksheet is a slimmed-down, reformatted version of the Sustainability ROI Workbook. It prompts users to estimate all direct and indirect costs and benefits of using the product during the evaluation timeframe. It helps determine whether initially paying more for a better, more sustainable product from a more sustainable / future-fit supplier is a smart business decision.
Since sustainable procurement is about purchasing the most sustainable products from the most sustainable / future-fit suppliers, and since over 98% of companies / potential suppliers are SMEs, suppliers require an SME-friendly sustainability self-assessment tool. The free, open-source 3-in-1 Sustainability Assessment Toolkit enables any supplier to assess its performance on core sustainability issues. It can then use its composite score in its response to specifications in the RFP about its sustainability / ESG performance (see the RFP Specifications Template, above). For example, if the buyer assigns a 10% weighting to this criterion in its Bid Evaluation Tool (see above) and the supplier scores 67% in its self-assessment using the Toolkit, it would earn 6.7 points on the supplier sustainability / future-fitness specification.