Building Sustainable Value Chains
According to a Bain & Company study, companies employing sophisticated supply chain methods enjoy 12x greater profit than companies with unstructured methods. Some of the largest companies in the world understand that having an attitude of sustainability extend beyond the enterprise to the supply chain makes business sense. From a sustainability perspective, it is imperative that companies implement processes to assess the risk and opportunities in the entire supply chain. Companies need to formulate structures to evaluate and audit their suppliers, engage their supplier eco system in training and awareness programmes to build sustainable practices, and use technology to continuously assess their supplier’s sustainability and performance.
These issues, as well as other pertaining to building sustainable value chains, were tabled and discussed at Treeni Sustainability Solutions’ Fifth Edition of ‘Sustainability for Breakfast (S4B)’. This S4B was done in association with Institute for Sustainable Communities (ISC).
Speaking on this occasion, Ankush Patel, Chief Executive Officer and Co-Founder, Treeni Sustainability Solutions, said, “Extending the attitude of sustainability beyond the enterprise into the supply chain is an important part of building strong value chains. Some of the most well know practitioners of sustainability around the world have put in processes and practices that include the supply chain in their evaluation of sustainability performance, they share best practices and ensure that their suppliers and vendors are also recognised for sustainability performance. In high growth, rapidly developing markets like India, it is critical for large organisation to set an example by focusing on building sustainable value chains. Technology to help monitor, measure and manage a sustainable value chain becomes critical in getting this right. ”
Suresh Kotla, Director (Sustainable Manufacturing), Institute for Sustainable Communities added, “We have been working with various global organizations to help them implement sustainable processes for building great supply chains. Large business houses will have to play a major role going ahead to mitigate the risk and to achieve sustainability in the supply chain.”
We need to discuss, understand and defining the impact of supply chain, learning from the experiences of enterprises that have been focusing on supply chain sustainability, and understanding the role of technology to achieve the same.
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The CSR Journal Team
