The Ethical Supply Chain

Hi all, This is Pranav Surendran from ASB Coimbatore . This blog post is yet another one following my other posts from the interest in supply chain. This post gives a basic understanding of one of the most trending topics in supply chain which I came across.   

In today’s environment, consumers expect more from the brands than ever before. As they gain awareness about issues related to the environment sustainability and forced labor, consumers are demanding that supply chains meet ethical standards related to environmental stewardship, sustainable sourcing, reducing waste and better worker conditions.

An ethical supply chain is where companies will incorporate social and human rights and environmental considerations into how they do business across the world. An ethical supply chain focuses on the need for corporate social responsibility, working to produce products and services in a way that treats its workers and environment ethically.

More than ever, consumers want to know that the products they buy are not only economically sound but also manufactured through practices that are ethically and environmentally conscious. Also many researches have found that more companies are prioritizing ethical supply chain.

How could companies move towards an ethical supply chain?
Many actions need to be taken by company to move towards an ethical supply chain including simplifying processes, efficient planning, visibility into supplier actions, optimizing transportation routes to reduce fuel consumption, monitoring environmental risks and much more.

Technology is a very important part which includes IoT sensors, blockchain, AI-driven bots and advanced real-time analytics. This can help detect risk, boost efficiency, reduce redundancies and improve planning.

Hence, to conclude the ethical supply chain is an evolving practice and many businesses are realizing the need for it. Those that don’t invest in it are at a risk of being left behind.