Driving Sustainability in Supply Chain through Innovation and AI

livemint.com:

McKinsey report, supply chain impacts account for more than 80% of greenhouse gas emissions and more than 90% of the impact on air, land, water, biodiversity and geological resources. In an era where environmental consciousness is paramount, companies are assuming heightened social responsibilities, often compelled by evolving regulations that advocate for sustainable transformations.

This dual pressure from stakeholders and legislation is compelling supply chain managers to navigate a paradigm shift. The changing landscape necessitates businesses to contemplate novel operating models for their supply chains, expanding their focus upstream beyond internal operations to address sustainability challenges and capitalize on opportunities for value creation.

The central question revolves around whether companies can effectively juggle short-term gains while strategically positioning themselves for long-term prosperity. Is it conceivable for companies to allocate a portion of their current profits towards fortifying resilience for future downturns and positioning themselves for sustained growth in a cleaner, more circular economy? Will advancements in artificial intelligence present a potent tool for companies striving towards sustainability? At a recent Supply Chain Summit, organized by Mint and Oracle, the discourse centered around the pivotal question of whether companies could balance short-term gains with strategic positioning for long-term prosperity.

The imperative to address sustainability challenges and unlock opportunities for value creation is steering businesses to reassess their supply chain models. The event was an amalgamation of interesting presentations, fireside chats and demo showcases.