4 Steps To Shifting Your Supply Chain Into High Gear
The goal of every business is to turn a profit, the bigger, the better. In recent years, pressures from shareholders, investors, and customers have significantly increased the need for a more sustainable supply chain.
Although incorporating sustainability into your company’s supply chain can be a complicated endeavor, but failure to act may be the most significant risk of all.
“The major trends in business right now — low-cost country sourcing, outsourcing, customization, globalization — all create tremendous complexities in a supply chain,” said Steve Matheson, vice president and global leader for supply chain at Boston Consulting Group. “In most cases, however, companies have not changed how they manage this critical part of the business.” 
Here are four ways your supply business can take the initial steps toward being a sustainable supply chain:
- Map your supply chain
Many supply businesses do not have an appropriate picture of the sustainability impacts of their supply chain and their role in it. This is the first step to ensuring sustainability in your business. You can do this by inventorying your suppliers to identify the most significant impacts they have on your business, and prioritizing your efforts based on this information.
- Make your long-term expectations known
It is essential to communicate your sustainability goals within your supply chain. This will ensure that suppliers and vendors are involved in your sustainability efforts. You can establish and advertise your business expectations through a supplier code of conduct.
- Establish a baseline supplier performance
You can set a benchmark for supplier performance using a simple baseline self-assessment questionnaire to provide a starting point for future analytics.
- Develop training and capacity building programs
Ensuring effective knowledge transfer across the supply chain will help you leverage the best practices and practical experience of others to improve your services.
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