In 2015, the United Nations adopted the 2030 Agenda for Sustainable Development and its Seventeen Sustainable Development Goals. There is a growing awareness of sustainability developments and their impacts on people, economy, as well as the environment by consumers, customers, shareholders and governments.
Most of the environmental impact associated with the consumer sector is embedded in supply chains. There is mounting pressure for companies and especially supply chains to take concrete action. The supply chain network that powers international trade and the economy has a significant role to play. According to the Asia Report on “Better Business, Better World”, opportunities in sustainability could contribute US$12 trillion to global GDP and 380 million new jobs by 2030.
Factors Affecting Sustainability of Supply Chain
To stay competitive, businesses are seeking to unlock value in the vast supply chain on the theme of sustainability. In addition, a report released by non-profit organization CDP has provided evidence that sustainable business outperform other companies on the S&P 5003. Thus, there are many reasons to be sustainable in the supply chain and it may also be used to gain competitive advantage and differentiation in the industry. This article highlights the five critical factors that should be considered when building a sustainable supply chain.