48% of businesses are under pressure to improve their supply chain sustainability. This is because supply chains that are sustainable bring many benefits. Not only will you be able to save on costs, but also build an environmentally-friendly reputation among consumers.
In this article, we’ll discuss what sustainable supply chains are. We’ll also discuss ways you can build such supply chains.
What is a Sustainable Supply Chain?
A sustainable supply chain is one that dispatches goods in a quick, cheap, and efficient manner. It also ensures that its operations do not negatively impact the society or environment in any way. Some benefits of having a sustainable supply chain include:
Saving costs by efficiently utilizing fewer resources while getting better results and profit.
Building a positive business reputation of taking environmental responsibility seriously among consumers. 90% of consumers tend to trust businesses with a positive reputation more than others.
With a sustainable supply chain, you will always be abiding by social and environmental regulations.
You’ll attract more businesses that only want to partner with sustainable brands.
How to Build a Sustainable Supply Chain?
Following are ways you can build supply chains that are sustainable:
Multiple companies from the same industry can share supply chains to increase their positive environmental impact. Of course, for this, you’ll have to partner up with businesses that have like-minded aims and views. This can even help develop a culture of learning and innovation in your company.
For example, businesses in the same industry with production factories near each other can make a deal. They can agree to use combined transport for their deliveries to minimize carbon dioxide emissions.
Invest in Technology
If you want a sustainable supply chain, you have to invest in advanced technology. While the investment may seem big initially, the efficiency it will bring to your operations is worthwhile. This will also make your business stand out from the B2B market competition.
For example, you could purchase an inventory management tool to save you excess procurement and inventory costs. Another thing you can do is invest in artificial intelligence to automate supply processes.
Use Environmentally Friendly Material
One of the first steps businesses take to make their supply chains sustainable is to use sustainable packaging. This means using packaging material that can be recycled or repurposed. Such packaging material is usually more expensive but will also bring in more business.
In fact, 80% of consumers have shown a willingness to buy products that come in refillable packaging. In addition, having sustainable packaging will also save you costs on waste management fees. You may even be able to benefit from incentives funded by municipalities and suppliers.
Having an efficient supply chain is very important to stand out in today’s competitive market. One of the best ways to do that is by making your supply chain environmentally friendly. While you’re at it, use influencers to market your environmentally friendly strategies to bring in more business. Subscribe to Xemoto Media for more powerful insights. We can also help you get in touch with the best influencers in your field.