PURCHASING PRACTICES
The Sustainable Terms of Trade Initiative (STTI) sits at the heart of our Purchasing Practices strategy. We work to establish fair and responsible purchasing practices that benefit all stakeholders in the supply chain. Through policy development, pilot projects, and the creation of a global standard for responsible purchasing, IAF seeks to ensure that manufacturers are treated fairly, commercial disputes are resolved efficiently, and sustainable business conduct is promoted industry-wide. Our vision is to create a transparent and accountable framework where the risks and rewards are equitably shared, fostering long-term, collaborative relationships between buyers and suppliers.
Key Components:
- Responsible Purchasing Framework: Develops and promotes standards for fair purchasing practices, ensuring transparency and accountability.
- Grievance Mechanisms: Establishes systems for resolving disputes and ensuring that suppliers can voice concerns without fear of retaliation.
- Collaborative Pilots: Conducts pilot projects with brands to implement and refine responsible purchasing practices, fostering better relationships and mutual benefits.
Goals:
- Embed responsible purchasing practices as the industry standard.
- Ensure that purchasing practices support the economic stability and sustainability of suppliers.
