Sustainable-driven Supply Chain Management starts with Ethical Sourcing and Waste Management

A sustainable Supply Chain Management approach can nurture responsibility and equality within the business network and foster a culture of wellbeing...

Companies must understand their responsibility along the Supply Chain and help to reduce the impact on the environment

Companies must understand the ecological footprint of their procurement business network. Responsibility and ethical sourcing are core capabilities every sustainable thinking company must master. Ethical sourcing is the process to make sure that raw materials or products are obtained through responsible and sustainable methods. Customers want a better transparency how raw materials or semi-finished goods are sourced and companies must take that responsibility to provide those insights. To achieve this companies need to collect and process data about materials and their sources and need to leverage that data to optimize sourcing processes. They must also provide that same data to their customers so they know that all material is obtained from trusted sources and do not impact the environment. Besides ethical sourcing, companies must also eliminate waste in their supply chain and introduce a reverse process (already starts with product design in Research & Development), use materials that can easily and cost effective be recycled, reused, refurbished or can be put back into the loop to do good for other participants in the supply chain business network or local communities. This closed loop of material flow where many companies (small and big) and communities could benefit from could be controlled by blockchain technology in order to provide the full transparency from source to destination.

🌎 Understand the impact of your sourcing business activities in your supply chain

🌎 Elaborate the benefits of using new sourcing methods that reduce the impact on the environment

🌎 Introduce sourcing and waste management methods of closed loops which allow all participants to benefit

I believe it is time to revolutionize the way we do business. It is time for a Purpose-driven Wellbeing Economy. But to achieve this goal we need new supply chain methods which reduce the impact on the environment, provide more transparency and allow new sourcing practices which support a true Circular Economy. What do you think?