Accenture posted a article with interesting highlights of a new report from the World Economic Forum, written with their collaboration.
The new report from the World Economic Forum identifies 31 proven practices to help companies achieve a “triple supply chain advantage” of increased revenue, a reduction in supply chain cost and added brand value. These practices also help companies shrink their carbon footprint and contribute to local development, including the health, welfare and working conditions of the communities in which they operate. The research is based on interviews with 25 corporations, including Nestlé, SAB Miller, UPS, non-government organizations and other sustainability experts.
These are some highlights of the report:
- Some companies have improved their competitiveness through increases in revenue (five to 20 percent), a reduction in supply chain costs (nine to 16 percent) and a boost in brand value (15 to 30 percent).
- Their operational risks were also reduced. Additionally, the practices, which span product design, sourcing, production and distribution throughout the product lifecycle, can help companies shrink their carbon footprints by 13 to 22 percent.
Anna Swaithes, head of Water and Food Security Policy at SAB Miller, states that they are committed to accelerating growth and social development in their value chain. They have hundreds of thousands of customers and suppliers that are small-scale businesses at the heart of their communities. But the customers and suppliers often face barriers to survival and growth, like a lack of access to financing and business advice. Supporting the customers and supplier to prosper is a key part of the SAB Miller business strategy.
Mark Pearson, senior managing director, states that sustainability must become a higher priority in supply chain management, given the scarcity of natural resources, rising commodity prices and greater consumer expectations for responsible sourcing and production. Those who act now and capture the market opportunity of more sustainable supply chains can differentiate themselves and generate higher margins. He also states that is about behaving in a socially responsible way that can also deliver a competitive edge.
In addition to outlining practices that others have successfully used, the new report from the World Economic Forum offers guidelines executives can apply to evaluate the value-creation potential of their organizations supply chain practices. Next to that, it also provides guidance for businesses to commit to engaging in practices of ethical commerce.
- Find here the full article
- Find here the report from the World Economic Forum
- Website Accenture: http://www.accenture.com/
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