Assessing the State of Supply Chain Sustainability
Supply chain sustainability has increased in importance for companies of all sizes, public and private, across a wide range of industries. While there has been increased excitement in tandem with proclamations of lofty goals around the topic of supply chain sustainability, it has proven challenging to operationalize sustainability when many companies focus on short-term financial goals or lack science-and context-based sustainability targets. The focus of this research is to understand current and future supply chain sustainability practices from the perspective of frontline professionals, across industries, geographies, cultures, and regulatory environments in 2019. This research gathered insights and data through a survey distributed to frontline supply chain professionals, executive interviews, and additional research sources. Results confirm increased corporate interest in supply chain sustainability. However, misalignment may exist between executives who set overarching corporate goals and strategies and frontline professionals who are tasked with the tactical implementation of these strategies. Companies struggle to implement sustainability initiatives under constrained resources with conflicting priorities. Results also indicate that companies may be overstating social and environmental goal commitments, as overall investment levels are lower than goal commitment levels.
To better understand these issues and how companies are adopting supply chain sustainability, this research project was commissioned by the MIT Center for Transportation and Logistics and the Council of Supply Chain Management Professionals. To set the stage for future State of Supply Chain Sustainability reports, we will reveal the results of our research on supply chain sustainability in 2019 with an added focus on what the events of 2019-2020, such as the global COVID-19 pandemic that is still unfolding at this writing, could mean for supply chain sustainability in coming years.
Our key performance indicators are the gateway to evaluating environmental and social impacts to create more sustainable products for a more sustainable planet. THESIS Key Performance Indicators are interactive tools that highlight environmental and social issues relevant to a product category, practices that can be used to drive improvement on those issues, and key performance indicators (KPIs) to track and measure performance against these issues.
Explore sustainability profiles
With more than 100 product categories, our sustainability profiles provide a summary of the best available, credible and actionable knowledge about the sustainability of that product.
Use our key performance indicators to find out where your opportunities are for improvement within your consumer product supply chain.
Communicate with buying teams
Our key performance indicators create simple and measurable year-over-year data to help with the buyer/supplier communication.
KEY FEATURES AND FUNCTIONS
The key performance indicator sets are designed to facilitate decision-making by retailers, manufacturers, and suppliers along the value chain, with an emphasis on impact and improving product sustainability. the key performance indicators are science-based and stakeholder-informed, including input by companies, academics, civil society organizations, and government agencies., category sustainability profiles.
Stay informed with category profiles: Get details of the hotspots, sustainability issues, improvement opportunities, and key performance indicators for a product category. Available to TSC members and licensees, profiles also list referenced scientific sources, term definitions, and resources that can help in responding to the KPIs.
Key Performance Indicators
Measure performance and sustainability with KPIs: Each toolkit consists of a questionnaire, related documentation, and a scoring model to determine the final score. The scorecard questions come directly from the key performance indicators (KPIs) and relevant to a specific product category.
- Sustainability Snapshots
Communicate with buying teams: Sustainability Snapshots provide a top line overview of the issues and opportunities for each category written for a general audience.
TSC offers a suite of tools and services to support organizations in their mission to develop, manufacture and sell more sustainable consumer products. THESIS license is available to TSC members and licensees. These products may be purchased at a very reasonable price individually or as a package.
IMPORTANT! This is not a license for THESIS on SupplyShift and cannot be used to share assessment results with retail customers. To activate your THESIS license on SupplyShift, click here to create or log into your company account.
- Key Performance Indicator Sets
- Supply Chain Diagrams for over 50 product categories
- Calculation Tools
SUPPLY CHAIN DIAGRAMS
TSC Supply Chain Diagrams are graphic representations of product life cycles that reveal key hotspots and improvement opportunities. The diagram highlights KPIs that can be used to track supplier performance and drive impact. Three product categories have been selected to demonstrate the application of the diagrams in a wide variety of sectors: chicken, laundry detergent, and household paper.
Access to THESIS content via the Member Portal and via a licensing arrangement with SupplyShift are benefits of TSC membership. Non-members can purchase a THESIS license for $699 USD. Want to first learn more about how THESIS can help you specifically?
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Supply Chain Predictions 2024: AI, Sustainability Top Of Mind
To paraphrase a much-attributed quote, “Making predictions is hard. Especially if they are about the future.” And the last few years have not made the challenge any easier in the topsy turvy world of global supply chain trends.
Since the start of the decade, supply chains have become a strategic pillar for many global businesses and industries. What constitutes a well-run supply chain? Depends on who you ask. Sometimes it’s about cost and efficiency, other times customer service versus profitability. Most recently, resiliency, sustainability and artificial intelligence (AI) have been stealing headlines.
Risk Resiliency is here to stay
Over the past three years, the risks and shortfalls in our global supply chains have been brought to the forefront across all industries. Supply chains are now recognized as central to business survival, success, and growth, rather than an opportunity to just reduce costs.
Companies have, and will continue to revisit risk-mitigation strategies:
- Strategies for on-shore, near-shore, and off-shore to be closer to the actual demand.
- Alternate sourcing strategies for key materials to reduce supply chain risk by identifying alternate suppliers in different geographical locations to reduce dependencies on a single source of supply.
- Rethink inventory optimization strategies to identify decoupling points and postponement strategies, to better position the right materials, intermediates, and finished products across the supply chain.
- Improve collaboration and increase visibility with suppliers, logistics service providers, contract manufacturers and other key trading partners.
Sustainability is top of mind
2024 is the year we will begin to see a constant flow of regulations around ESG coming into effect. Companies will be required to both understand and disclose their carbon footprint and emissions. And they will look to their supply chains for the data.
Supply chains are a huge part of the problem when it comes to emissions (estimated to be about 70% for most companies), circularity, and inequality, and are therefore a great area to focus on when looking for solutions.
Employees, stakeholders, customers and regulatory bodies are demanding sustainability data, and decision-makers must understand how the supply chain performs, which suppliers and logistics providers contribute to a greener business model, and what changes can impact the rest of the business.
Suppliers that cannot meet ESG regulations , will see business dwindling as customers look for mor sustainable alternatives.
Transparency and Predictability are the enablers
To be more risk-resilient and sustainable you must start by knowing the current situation. How can leadership predict and respond to the supply chain without a clear line-of-sight into what’s happening across various business units and partners?
To meet sustainability initiatives, companies must be able to pinpoint where emissions and waste are in the supply chain, or where slave labor and inequality is occurring across the business network and track it to translate the findings into actionable next steps.
But visibility alone is not enough. What is the point of knowing you have a problem, if you are not in a position to resolve it!
This is where predictive and prescriptive analytics has a critical role in anticipating upcoming challenges and opportunities and provide relevant and timely information to make an informed decision. Predictive and prescriptive analytics helps supply chain practitioners make decisions based on what’s likely to happen next week, not just telling them what happened last week.
Digitization and AI are the game changers
One key to enabling risk-resilient and sustainable supply chains is digitalization . With a more digitalized supply chain, you can handle disruptions better, faster, and at a lower cost. By investing in supply chain technology to digitalize processes, such as AI (artificial intelligence) the (IoT) Internet of Things and robotics, companies have been able to improve visibility agility and resilience across the supply chain.
Digitally networking all the trading partners puts companies in a much better position to anticipate disruptions and take appropriate actions needed to keep customers and regulatory bodies happy. The goal is to transform fragmented supply chains into agile, collaborative networks for supply, logistics, asset management, and service – all connected by dynamic workflows with real-time data to increase the pace of business.
The word (or words) of the year for supply chains in 2024 will be “ GEN AI ”.
Companies need to segment their AI strategies into 3 different categories:
- Improve supply chain efficiency – How can you drive organization to do the things that you do today in a different, more accelerated fashion?
- Improve the user experience – How can I making things more intuitive, and provide contextual information?
- Deliver new processes and innovation – Can Ideveloping a capability that you’ve previously not had in the organization?
Are we ready for the Supply Chain Worker of tomorrow?
The worker of tomorrow is digitally connected and has access to information at their fingertips, 24/7 in their personal life and expects the same connectivity and access to information in their work environment.
The future will bring a greater focus on companies using IOT, AI and other technologies within their factories, across the supply chain of smart assets, and into the hands of consumers and customers leveraging the smart products and devices it enables.
Technology will also help alleviate worker shortages and improve retention by improving the retention, productivity and decision making of existing employees, and attracting new talent with state-of-the-art tools. And as the degree of automation increases, it frees up the workforce from repetitive tasks, and allows them to focus on more complex problems and decisions that require human interactions.
One thing is certain. Supply chains play a vital role in a business’s strategy both today and moving forward.
To learn more about how to get your business ready to address these challenges and opportunities, download the recent Oxford Economics Research
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Petrochemicals in 2024: Capacity Overbuild and Codependent Markets with John Richardson of ICIS - Ep 144 The Chemical Show: Executive Interviews on Leadership, Sustainability, Supply Chain, Digitization, Customer Centricity and mo
What factors are driving petrochemical markets today? Join this conversation between Victoria Meyer and industry-expert John Richardson of ICIS as they discuss the trends and influences on the Asian and global petrochemical markets. Including: Excess capacity due to overbuilt olefins and polyolefins assets Global co-dependence on China for petrochemical consumption and demand growth China's shift to "mature" growth of 1-3% p.a. from "fast growth" 6-8% p.a. How leaders are handling economic and market challenges Download John's latest analysis on petrochemical markets here. Killer Quote: "2024 and beyond will be a roller coaster ride for the industry, with China's dominance in global demand dictating the trajectory. The key will be for companies to navigate this landscape, whether they are giant international players or small local companies.” –John Richardson Prior interviews with John: Episode 102: China’s Aging Demographics and the Future of the Chemical Industry with John Richardson Episode 79: How The China Market Affects Chemical Prices With John Richardson Episode 36: How China’s Response To Chemicals Is Affecting the World With John Richardson of ICIS Episode 22: Understanding Market Demand To Manage Your Business Amid Uncertainty With John Richardson Support for our podcast comes from EcoVyst.At Ecovyst, we're accelerating the transition to a sustainability-driven future. Our long history of innovation expertise and close customer collaboration supports the development of proprietary catalysts and services across our two industry-leading businesses, Advanced Materials & Catalysts and EcoServices. Advanced Materials & Catalysts is a leader in proprietary and customized technologies for polymers, cleaner fuels, emissions control and circularity. EcoServices is the largest North American recycler of spent sulfuric acid. Ecovyst... your catalyst for positive change.
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- Copyright 2020-2023 The Chemical Show LLC | All Rights Reserved | www.progressioglobal.com
Procurement & Supply Chain LIVE: Events breakdown in 2024
Connecting the world’s procurement and supply chain leaders, Procurement & Supply Chain LIVE will be returning in 2024 to bring the biggest global businesses together to deliver insightful keynotes, fireside chats, and panel discussions sharing valuable knowledge and real-world experiences.
When: 21 March 2024
Location: Singapore (Virtual)
Website: Procurement & Supply Chain LIVE Singapore
Join C-suite executives and peers from the procurement and supply chain world at Procurement & Supply Chain LIVE Singapore on 21, March.
Core topics to be discussed during the event:
- Procurement and supply chain strategy
- Supply chain sustainability
Serving as the ultimate virtual platform network for Singapore, the event connects like-minded peers and companies throughout Asia, those attending Procurement & Supply Chain LIVE Singapore will hear from the likes of Shell, Mondelēz International, City Bank, HPE, and many more!
To get your tickets, click here .
When: 15 May 2024
Location: Dubai (Virtual)
Website: Procurement & Supply Chain LIVE Dubai
Gathering C-suite leaders from the likes of MTN Group, Proctor & Gamble, Absa Group, and Baker Hughes, Procurement & Supply Chain LIVE Dubai (15, May) will be hosting two interactive and high-energy panels discussing procurement strategy and procurement transformation as well as in-depth fireside chats with leading Chief Supply Chain Officers.
Serving as the ultimate virtual platform network for Dubai the event connects like-minded peers and companies throughout the Middle East and Africa.
When: 5-6 June 2024
Location: New York (Virtual)
Website: Procurement & Supply Chain LIVE New York
Across two action-packed days, Procurement & Supply Chain LIVE New York will gather like-minded peers and leaders from the likes of Cognizant, AXA XL, City of New York, and Bosch to deliver keynotes and host interactive and high-energy panels on the 5-6, June.
Over the two days, C-suite leaders will discuss:
- Supply Chain sustainability
Serving as the ultimate virtual platform network for New York, the event connects like-minded peers and companies throughout the United States and Canada.
To register your interest, click here .
When: 24-25 September 2024
Location: London (Hybrid)
Website: Procurement & Supply Chain LIVE London
Returning to the Business Design Centre (BDC) for another year, Procurement & Supply Chain LIVE is the world’s fastest-growing procurement and supply chain event. A must-attend event in 2024, attendees can join virtually or in person across two unmissable days (24-25, September).
C-Suite leaders from NHS England, GE Healthcare, Yodel, Danish Crown and many more, will discuss:
- Procurement strategy
- Strategic sourcing
- Generative AI
- Women in procurement
- Procurement and supply chain transformation
- Supply chain risk and resilience
Follow the links to see the highlights from Procurement & Supply Chain LIVE 2023, Day 1 and Day 2 .
The Global Procurement & Supply Chain Awards 2024
Presented in conjunction with Procurement Magazine and Supply Chain Digital Magazine - The Global Procurement & Supply Chain Awards 2024 will be debuting at the BDC on Day 1 of Procurement & Supply Chain LIVE 2024 (24, September).
The comprehensive programme will acknowledge companies, professionals and projects that have demonstrated exceptional performance, innovation and strategic thinking.
Serving as a prestigious platform to showcase success stories, inspire industry-wide advancements and celebrate the crucial role of procurement and supply chain in business success, the award will cover 12 categories:
- Procurement Transformation Award
- Supply Chain Innovation Award
- Future Leader Award
- Digital Supply Chain Award
- Supply Chain Sustainability Award
- Executive of the Year Award
- Global Logistics Award
- Procurement Technology Award
- Project of the Year Award
- Supplier Diversity Award
- Procurement Consultancy Award
- Lifetime of Achievement Award
The awards will be judged by Daniel Weise (BCG), Jim Townsend (Walgreen Boots Alliance), Ninian Wilson (Vodafone Procurement Company), and Alisa Bornstein (Visa Europe).
To enter The Global Procurement & Supply Chain Awards, click here .
To find out more about our upcoming events, click here .
Make sure you check out the latest edition of Supply Chain Digital and also sign up to our global conference series - Procurement & Supply Chain 2024 ****** Supply Chain Digital is a BizClik brand
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