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By Lalit Das
Sustainable businesses: In a world that is fast-moving, sustainability takes a very important place. Sustainability has become crucial for businesses in a variety of sectors and fields. One sector that it has taken centre stage in is supply chain management. People believe that it is the large-scale industries that can contribute and make their practices green. However, it is just as crucial for small businesses, if not more. Small businesses can control their waste emissions and contribute to making a green world.
Going green does not mean the company must compromise on its operational goals. Companies can adopt various practices in which they can adopt sustainable supply chain management and still fulfil their operational goals.
There are multiple benefits to opting for sustainable supply chain management, especially for small businesses. For a small business, excessive cost is a very important issue. With sustainable supply chain management, they can find ways to reduce excess costs by reducing transportation time and production costs.
Also read: Climate change: ‘Supporting MSMEs in ESG adoption essential for sustainable and inclusive future’
In addition to that, companies can start their change towards sustainability at a slow, consistent pace. This will prepare them for the future if their governments make sustainable supply chains compulsory. A company already in the process of becoming sustainable will find it easier to comply with such rules and regulations. Nowadays, clients are more interested in knowing whether the product was made sustainably and are willing to compromise on price. Practicing sustainable supply chain management will attract and retain new consumers and increase brand loyalty.
Many companies, especially small businesses, need help navigating through this process. To make their work more accessible and efficient, certain companies and startups
In many cases, switching to sustainable supply chains has helped a company and its reputation and has ultimately led to its growth. It is imperative that the company does not leave any negative impact on the environment and ensure a long, safe, and healthy future for themselves.
Choose local suppliers
Transportation is one of the leading causes of greenhouse gas emissions. Choosing local suppliers and vendors helps in combating the issue. This will reduce transportation costs and will be more time-efficient. Longer, time-consuming transportation will lead to increased costs and carbon emissions, which will not be sustainable. AI software will be more efficient in managing and tracking the supply chain and detecting and solving these problems.
Tracking supply chain
The company should track its supply chain from the production stage to the packaging and product delivery to the consumer. By tracking the chain, the company’s shortcomings will become apparent and can be worked upon. Companies can reuse some of the products and reduce production costs to a certain extent. Sustainable and green packaging of the finished product will also aid them. Consumers are also more likely to buy products from a brand that has sustainable supply chains.
Adopt green practices
Small businesses can find specific ways to adopt sustainable practices. Using renewable energy sources such as electricity will be much more sustainable than petrol or diesel. Waste reduction and recycling is another green practice that companies can adopt to become sustainable. Adopting and practicing these ways will contribute towards reduced carbon emissions, improvement in planner productivity, and, of course, the business’s overall profit.
Also read: Only 13% of MSMEs aware of benefits of implementing sustainability measures: Report
Sustainable supply chain management has become increasingly crucial in today’s time. In a world with finite resources, it is of utmost importance that these resources are saved. The resources that we currently have should be used sensibly and sustainably. Small businesses can switch to these practices without compromising their operational goals or profit.
Lalit Das is the Founder and CEO at 3SC. Views expressed are the author’s own.
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