PRGX Global and the Chartered Institute of Procurement & Supply Announce New Release of CIPS Sustainability Index
June 20 2017 - 5:30AM
ATLANTA, June 20, 2017 (GLOBE
NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: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.
About
PRGX
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
Contact:
Trudy Salandiak; CIPS PR Manager; trudy.salandiak@cips.org; +44 (0) 1780 761576; 07554 400 731
Michele Mahon; michele.mahon@prgx.com; +1 770 779 3212
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: PRGX Global, Inc. via Globenewswire
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