WHAT IS SUPPLY CHAIN SUSTAINABILITY AND WHY IS IT IMPORTANT?
Sustainability is critical for improving quality of life and protecting the environment for the future. Implementing sustainable processes and objectives in a supply chain is important for upholding three key responsibilities for the long-term growth and success of a company.
SOCIAL RESPONSIBILITIES
Government regulations regarding sustainability in a supply chain require mandatory compliance by the company. It is also recognized by customers and potential clients, which enhances the credibility of the company and upholds the reputation. When stakeholders in the industry can credit a company for their efforts towards building a more sustainable business framework, the company proves their capabilities and reliability.
ENVIRONMENTAL RESPONSIBILITIES
This industry is a large contributor to carbon emissions and pollution. A major initiative for supply chain companies is reducing carbon emissions for the benefit of the environment. It is vital that businesses in this industry can recognize the significant role they play in bettering the environment and actively implementing solutions to minimize waste and preserve resources/ This also includes optimizing space and transportation which creates a more efficient system in a supply chain.
ECONOMIC RESPONSIBILITIES
Preserving resources serves as a financial benefit as it increases the longevity of remaining resources and saves money in the long run. While sustainable practices should be important to the company, they’re also important to potential clients. Showing your company values sustainability over your competitors, drives business.
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