BETTER BUYING INSTITUTE

CORE RESEARCHThe majority of Better Buyings work is focused on independently gathering data and providing insights to companies and the industry on potential risks that purchasing practices are putting on supply chains and how to address those. Companies that subscribe to our Better Buying Purchasing Practices IndexTM (BBPPI) and Better Buying Partnership IndexTM (BBPI) can demonstrate that they are carrying out needed due diligence and working to lessen their impacts on suppliers, workers, and the environment. There were 1,701 submissions in our BBPPI ratings cycle that took place in April and May 2023. . We learned that in spite of the combined effects of the ongoing impact of COVID-19, and the global inflation accelerated by the war in Ukraine, nearly all Better Buying subscribers had continuously improved in some of the seven categories of purchasing practices. The majority of Better BuyingTM subscribers had improved their Cost and Cost Negotiation and Payment and Terms scores, both of which directly impact the financial sustainability of suppliers and their ability to provide living wages, ensure decent working conditions, and reduce carbon emissions. Suppliers reported that too few buyers are providing them with long-term, formal commitments to ongoing business, which impacts supplier stability and long-term business sustainability. The BBPI, that was carried out in October and November of 2023 and completed by 1,413 suppliers (an increase of 21.6% over 2022)showed that the Softgoods score improved in all 12 partnership areas. Four of the 16 subscribers in 2023 participated in the BBPI survey for three consecutive years, with three of the four showing improved scores every year.

PLATFORMWe operated a cloud-based ratings and evaluation platform that enables participating suppliers to provide information about their buyers online in a safe and secure environment. We continuously upgrade the platform and survey tools to ensure they measure the purchasing practices that have the greatest impact on suppliers and their abilities to achieve social/labor and environmental sustainability goals. In 2022, we made slight adjustments in the BBPPI questionnaire and upgraded the software to reliable data are collected and analytics are working as expected. We expanded to 11 the number of language translations we offer for the BBPI.