Emerging Trends in Building Sustainable Supply Chains
With the new adoption of United Nations (UN) 2030 Agenda and the Sustainable Development Goals (SDGs), the world’s nations have committed to ending global poverty and protecting our planet. Supply chain sustainability will be a vital factor in making these goals part of local business so that the companies’ operations, products and services can support a healthier world and facilitate future markets.
Supply chain sustainability faces challenges due to the distance between suppliers and partners operating in countries around the world with different legal standards.
EY in association with the UN Global Compact recently produced the report, The State of Sustainable Supply Chains, to highlight actions companies are taking to develop more sustainable supply chains. The report gathers data and information compiled from interviews with seventy companies to show challenges they are facing, emerging trends and new practices. Key takeaways include:
-Supply chain sustainability can no longer be ignored
-Companies are predominantly risk-driven with aspirations to unlock strategic opportunities and benefits
-Companies tailor their approaches and governance to create sustainable supply chains
-Leading companies are establishing a shared commitment with suppliers
-Technology enables visibility and influence beyond Tier 1
-Collaboration is critical for companies to achieve greater impacts
The report states that priority for supply chain sustainability must be set at the top of the organization. Supply chain must be looked at as a whole to make sure different departments such as legal staff and product marketing make decisions that aline with the company’s goal for sustainability.
Read full report, The State of Sustainable Supply Chains to learn more about best practices to achieve full supply chain sustainability.
Learn How Innovation is Driving Digital “Always On” Supply Chains by downloading the 2016 MHI Annual Industry Report. This report was developed in collaboration with Deloitte and reflects the views of nearly 900 industry insiders – almost double that of last year’s survey. Respondents included manufacturers, distributors, service providers, and others – more than 50% of them with senior executive, general manager, or department head titles.