In the recent years, many companies have moved ahead from hollow promises to tracking return on investment from their supply chain operations. We think that this change has come into the limelight all of a sudden because the companies realised that sustainability is important through the perspectives of the consumers as well as the government, it can help save a truck-load of money and is beneficial in protecting the environment too.
As an objective of their supply chain management, we are seeing that many companies are building sustainability goals. We, at GoPigeon, have gathered four best practices that should be taken into account in order to integrate sustainability goals into their supply chain objectives.
- Implementing certain reporting methods: It helps in demonstrating whether a company is putting efforts in bringing sustainability, which includes fact-based reporting, tracking greenhouse gas emissions data, and triple bottom line (TBL) accounting of economic, environmental and social impact. These data provide benchmarks to set benchmarks to track the achievement of sustainability goals. It can also be disclosed to consumers and regulators.
- Conducting Life Cycle Assessments (LCA): Successful companies determine the impact of the environment which include the extraction of raw materials, processing, manufacturing, fabrication, transportation and distribution, the use of the product by the consumer, its disposal and recovery after its useful life.
- Adherence to ISO 14000: It is about environmental management standards, which helps a company to systematize and improve environmental management efforts.
- 5 Level Framework: It consists of –
- Ascertaining the scope of the system
- Defining success
- Setting strategy
- Determining actions to take
- Identifying tools to use
This framework can help to organise thinking and making information more clear and strategic in the step towards sustainability. The biggest advantage of working over this framework is that it enables you to think beyond your own company and look at your suppliers as well.
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