A collective way ahead, inclusive of its impact on the environment, is now an underlying theme for companies managing their supply chain. This blog highlights the importance and the application of sustainable value chain functioning.
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The above phrase was the theme of the recently concluded G20 summit and stood for the ethos that values all forms of life and their interconnectedness to Earth. Much of the theme spotlights the need to make responsible choices that, in turn, empower the idea of sustainability and having an action plan that directly contributes to a green earth.
From a business perspective, many industries across the scale have opted for greener practices that keep them aligned with the objectives of the greater good. Contributing to the cause is the implementation of sustainable supply chain management.
A sustainable supply chain represents a company’s operation framework that aligns its environmental, social, and economic impact across every value chain process. This involves accounting for carbon footprints and implementing strategies that benefit nature and its inhabitants. From a management perspective, this covers keeping track of every process, right from raw material procurement to transportation.
But before we delve into the ‘How’ factor, we first need to know ‘Why’ precisely the importance of sustainability in the supply chain is gaining much traction.
We are all collective citizens sharing a single address for human life form existence. With governing bodies and global organizations signing off legislation to focus on sustainability – companies across demography are finding ways to get their end-to-end value chain functioning close to ESG (Environmental, Social, and Governance) norms.
In context to the brand calling factor, customers also look for sustainably produced final products that align with their ethical buying practices.
Moreover, with enterprises opting for a go-green foundation, it also opens up many possible partnership opportunities for the company's management that make them more scalable and double down on the financial parameters of gradual investment and overall ROI. These titular actions also bring awareness at a larger scale and play a pivotal role in solidifying a company's stand to its green objectives. A green supply chain also improves productivity big time by resourcing techniques that take a minimal toll on Earth's natural resources and extend by involving every stakeholder right from internal (employees) to external (vendors, contractors) on ethical practices that push the overall collective effort from a conglomerate.
If one has to note down the bullet points on the going sustainable, this is how it will pan out:
By looks, it might seem an enormous task, but if planned well, setting the working framework of a sustainable value chain can be a simplified process. And it all starts by knowing the scale of the operation. Here's the essential check box to be kept in mind when initiating sustainability in a modern supply chain.
The relevance of being up to date with ethical and sustainable practices not only gives a business an edge over its competitors but also positions itself as a proactive organization looking to contribute back to the planet it thrives on. 3SC, with its offerings, catalyzes an enterprise's intent of making its supply chain more sustainable with its analytically driven innovative value chain solutions. With its cohesive approach keeping a company's financial & environmental objectives aligned, 3SC is your ideal partner on your journey to carbon-neutral functioning.