31.05.2018 Views

GHCL Digest JUNE 2018

GHCL Digest JUNE 2018

GHCL Digest JUNE 2018

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

Supply Chain- The Missing Link in Sustainability!<br />

This month from the sustainability desk, we have come up<br />

with an ar cle to enlighten our readers on supply chain<br />

sustainability. Supply chain sustainability basically is the<br />

management of environmental, social and economic<br />

impacts, along with the encouragement of good governance<br />

prac ces, throughout the lifecycles of goods and services.<br />

The main objec ve of supply chain sustainability is to create,<br />

protect and grow long-term environmental, social and<br />

economic value for all stakeholders involved in bringing<br />

products and services to market.<br />

Business<br />

Integrity<br />

Labor Standards &<br />

Human Rights<br />

Supply Chain<br />

Environment<br />

Health &<br />

Safety<br />

Historically, supply chain was simply about logis cs and knowing when and where goods were moving,<br />

but with increasing technological advancements & accompanying visibility in all aspects has provided<br />

companies with the ability to gather data about how well each component in the supply chain<br />

demonstrates social & environmental responsibility. This transparency has promoted the concept of<br />

responsible sourcing and encouraged supply chain partners to develop and share best prac ces for<br />

sustainable opera ons and logis cs along with demonstra ng<br />

compliance with industry best standards for worker safety,<br />

environmental protec on and business ethics. Increased visibility has<br />

also led to heightened consumer awareness and increased demand that<br />

firms ensure environmental & social sustainability through the en re<br />

supply chain.<br />

As ini al step towards supply chain sustainability for a business is to iden fy the high priority supply<br />

chain issues, evaluate environmental & social risks and opportuni es. Many organiza ons are also<br />

driven by their corporate values and culture to address sustainability issues. For such organiza ons, the<br />

fact that supply chain sustainability is the right thing to do and is a driver of social development and<br />

environmental protec on helps create internal buy-in and commitment. The most common business<br />

drivers for supply chain sustainability are depicted in the figure below:<br />

Managing<br />

Business Risks<br />

Realising<br />

Efficiencies<br />

Crea ng Sustainabile<br />

Products<br />

Minimize business<br />

disrup on from<br />

environmental, social<br />

and economic impacts<br />

Reduce cost of<br />

material inputs,<br />

energy, transporta on<br />

Meet evolving<br />

customer and business<br />

partner requirements<br />

Protect company’s<br />

reputa on and<br />

brand value<br />

Increase labour<br />

produc vity &<br />

efficiency<br />

Innovate for<br />

changing market<br />

June <strong>2018</strong><br />

13

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!