Achieving sustainability goals will require supply chain leaders to address several challenges and opportunities.
Most importantly the ones that could impact the performance of their operations. While many organizations are implementing sustainability strategies, they may not be sure how to assess their progress or identify key areas of improvement.
Many experts believe that a more collaborative approach is needed so that more companies can join the supply chain sustainability movement.
With this in mind, we’ve taken out our magnifying glass, and found the best tools and techniques to create both a competitive advantage and overall sustainability in supply chains?
1) Electric Vehicles
For the business that wants to keep the flow of goods at a minimal cost and time-saving way, electric vehicles are the best. With the increased shift to sustainable transportation, electric vehicles can be appealing to businesses with a green agenda.
We’ll need to wait and see how the electric vehicle market develops, but if companies want to innovate their supply chains, they might consider purchasing electric vehicles for their warehouses or other logistics centres.
They can benefit supply chains in myriad ways, including maintenance costs and reduced roadway congestion. What’s more, they could even help curb climate change in the future.
2) Supply Chain Software
Nowadays, supply chain management software comes with innovative in-built features that help to automate certain business operations. For example, order and billing management becomes complex for a human but the same can be simplified with a supply chain software. It can automate the billing and ordering process, which makes time for other tasks in your organization.
3) AI/ML Models
When a company wants to keep the business operation efficiency and the workforce productive, AI/ML model helps a lot. It predicts the product demand among potential customers. Also, it provides real-time data access when coupled with IoT to let you measure the KPI’s performance. Apart from that, you can sustainably handle the warehouse.
4) Smart Devices
Smart devices equipped with IoT and sensors have allowed companies to have a complete overview of all the products being transported. It helps them in monitoring customer orders instantaneously.
Another advantage that comes with this technology is that it helps improve port efficiency as well. It provides for real-time tracking, tracing, and monitoring of goods as they move across different ports. As a result, the overall efficiency of the port operation can be improved.
5) Cloud ERP Tools
Some ERP tools allow supply chain managers to manage the environmental impact. To build a supply chain that protects the environment, many companies invest in it. With this tool, supply chain managers can manage their supply chain to ensure there are no issues with the delivery of goods and to reduce the environmental impact of their company. Doing so will produce good profits for these businesses in the future.
Conclusion
In the end, it’s up to each brand to decide for itself which tools and techniques will work best in its particular supply chain software. It’s also a good idea to get consumer feedback on sustainable products and practices since a brand’s image will be affected in the long term by consumer perception of its environmental footprint. The tools introduced here can help companies to better manage that footprint, but it’s up to the individual brands to decide where to invest their resources first.