Sustainability is a confluence of social, ecological and economic environments. Be sure to include your supply chain because it plays a big role in your company’s environmental, social and economic impact. 2017. Coca-Cola has similar goals. © 2020 Prologis, Inc. All rights reserved. The process can involve everything from a warehouse’s source of power to the transportation of goods and beyond. Get the latest industry news, videos and podcasts to stay up-to-date and ahead of the curve. World Intellectual Property Organization. This … To understand the situation and develop ideas for tackling it, we conducted a study of three supply networks. Companies employ simple measures such as switching lights and PCs off when left idle, recycling paper, and using greener forms of travel with the purpose of reducing the day-to-day carbon footprint. Then the Coronavirus disease (COVID-19) pandemic hit the United States in March, and sustainability … Each was headed by an MNC considered to be a “sustainability leader”—one in the automotive industry, one in electronics, and one in pharmaceuticals and consumer products. 2013. [2], Many companies are limited to measuring the sustainability of their own business operations and are unable to extend this evaluation to their suppliers and customers. It’s important that sustainability be considered in every business decision you make going forward. This gives clarity around the environmental impact of adjustments to supply chain agility, flexibility, and cost in the supply chain network. Sustainability Goals in the Supply Chain More companies have moved beyond paying lip service to sustainability to embracing it and tracking its return on investment. The objective of supply chain sustainability is to create, protect, and grow long-term environmental, social and economic value for all stakeholders involved in bringing products and services to market. This is the second level, where companies begin to realize the need to embed sustainability into supply chain operations. Typically, sustainability initiatives include identifying the source of raw materials, ensuring good conditions for workers and reducing the carbon footprint. Is it as sustainable as you want it to be, or should you make adjustments? The role of intermediaries in establishing a sustainable supply chain 1. Introduction. A company’s negative impact on environmental or social areas may show in their stock market value, exposing their true values to investors. It hopes to reduce production's water usage by 25 percent from 2010 to 2020, and as of the business's "2014/2015 Sustainability … Learn about the process of reverse logistics and how it can make your company more sustainable. The supply chain has “woken up” to the fact that sustainability should be prioritized if lasting success is to be achieved, the 3PL added. Sustainability in supply chains for large organisations can be enormously long and complex, with many steps throughout the chain being unknown or poorly communicated. Traditional challenges have included lowering costs, ensuring just-in-time delivery, and shrinking transportation times to allow better reaction to business challenges. Sustainability as a concept has created enormous pressure on supply chain management. In some sectors there are many Voluntary Sustainability Standards that indicate sustainable practices, however the impact of these practices is not always determined or in alignment with the initial sustainable supply chain goals. While impact data is probably one of the better ways of assessing a company’s long term impacts, it is important to note that data collection for impact assessment is a lengthy process and not all companies can spend long periods of time measuring their impact without making changes. And a need to increase their resilience fulfillment costs in improving the overall performance Coffee and Cocoa 12... To implement sustainable strategies down its supply chain management ( GSCM ) has become driver. 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