Dive Brief:
- A recent survey by West Monroe Partners and the Supply and Value Chain Center at Loyola University concluded that 51% supply chain executives said they consider developing a "green" supply chain to be a current strategic priority, reports Industry Today. Although 36% said they intend to incorporate sustainability into operations, only 22% plan to act over the next 3 years.
- Key information worth gathering before taking action: assess the company's carbon footprint and calculate bottom-line savings.
- Methods of action include making optimum use of procurement strategies and considering location of facility sites.
Dive Insight:
For executives contemplating sustainability policies, two questions stand above the rest: how much will it cost, and when will it pay off? But supply chain professionals' biggest mistake is to assume profit will suffer from social and environmental policies, at least according to the World Economic Forum.
In addition to the increased communication and visibility benefits gained from pushing sustainability down the supply chain, customers are increasingly prizing green brands.
Perhaps more importantly, though, lack of environmental or social controls on the supply chain could be considered a risk now as consumers punish companies that are not up to standards. So whether it's to meet rising standards or improve brand value, beginning the sustainability process now — even with small steps — can prove beneficial in the long run.
