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Ethical Considerations in Procurement and Sourcing
Most organizations have a code of conduct that provides direction on acceptable and unacceptable behaviors. Legal guidelines also exist. However, procurement professionals also look to the guiding principles of their profession to help them make ethical decisions throughout the sourcing and contracting processes.
Procurement professionals are responsible for developing and managing an organizationâs relationships with its suppliers. Part of this responsibility includes ensuring that business is conducted in an ethical manner. Ethical risks are a reality for procurement professionals in making sourcing decisions. These risks can involve both suppliers and internal stakeholders and require vigilance in order to proactively identify and manage the risks.
Procurement personnel must be able to identify when an ethical issue exists, specifically define the risk, and develop an appropriate strategy for mitigating the risk. This course explores the guiding principles of ethical behavior and illustrates how these principles can support procurement professionals in dealing with day-to-day ethical considerations.
