HOBI Weekly Blog Recap (9/18-9/21)
A green supply chain has become a competition differentiator for businesses committed to being responsible for the good of the environment. Every company benefits from helping protect the planet, and using a green supply chain provides an advantage to businesses over competitors. Although switching to greener supply chain practices is challenging and costly, the benefits will outweigh the initial resources.
Now more than ever, stakeholders and clients expect companies to have increased corporate responsibility. Knowing how your organization packs, ships, obtains, and stores goods is critical to protecting the environment and gaining a net-zero future. A company’s mission should be to achieve a net zero so emissions are balanced regarding positively impacting the environment.
Businesses that have already incorporated green supply chain practices benefit from customer loyalty, compliance with the laws and regulations, and participation in new and existing markets. Though the investment benefit is not immediate, it eventually becomes evident. Solid evidence of environmental impact demonstrates an organization’s dedication to sustainability. To avoid environmental disinformation and become more personable to consumers, keep sustainability goals and relevant details accessible. In the measurements, it is smart to include minimized energy consumption, the reduction of plastic usage in packaging, or contributions to correcting carbon emissions.
Here are some steps toward a greener supply chain:
- Partner with responsible third-party contractors to keep a record of and even suggest environmentally friendly processes.
- Switch to electric transportation or construct a distribution route that is more efficient by reducing the amount of stops or distances traveled.
- Be mindful of your inventory and have it regulated to decrease material waste and reduce utility usage.
- Use environmentally friendly packaging and materials regarding to your products, packaging, and shipping, and recycle and reuse materials rather than discarding them.
- Use technology and artificial intelligence to your advantage. Implement them in tracking inventory and reducing waste, which ultimately assists in speeding up the supply chain process.
- Monitor your advanced economy concept, and provide sustainability training and recommendations to those you connect with, such as employees and third-party suppliers.
Although introducing green supply chain practices takes time and resources, it’s essential to get ahead of the competitive market. Collaborating with like-minded suppliers and monitoring the amount of waste minimized during everything from storing goods, packaging, and shipping to customers will help businesses acquire a strong start in green supply chain practices.
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