BANGALORE: 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 the forum.
Ankush Patel, CEO, Treeni Sustainability Solutions, said, ““In rapidly developing markets like India, it is critical for organizations 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, “Business houses will have to play a major role going ahead to mitigate the risk and to achieve sustainability in the supply chain.”