Ethical sourcing key to supply chains
IT BUDGETS
Ethical sourcing key to supply chains
According to Opentext , 88 % of global consumers indicated that they plan to prioritise buying from companies that have ethical sourcing strategies in place according to their research .
“ In order to create an ethical supply chain , complete transparency and endto-end insight into the whole supply chain is necessary . It is critical that up-to-date information is provided regularly across the entire supply chain and by all organisations , so there is no missing link .
A digital backbone that allows this data to be shared in real-time and that can handle data – from information capture and exchange to integration and governance across the network of internal systems , cloud applications , trade partner systems , and connected devices – is necessary for businesses to achieve true end-to-end visibility .” Mark Morley , Senior Director , Product Marketing for Business Network at OpenText leaders to continuously monitor supply risk dependencies . Simultaneously , cloudbased models enable partner ecosystems to reconsider how they interact with one another , as they look towards engaging in supply chain innovation , where greener practices are prioritised and rewarded .”
Tom Fairbairn is a supply chain expert and distinguished engineer at real-time data distributor , Solace , used by the likes of NASA and the London Stock Exchange .
" Data is the lubricant in the machinery of supply chains , allowing the right decisions to be made and efficiency to be maximised . The proven way to access , use and act on data is through an Event- Driven Architecture ( EDA ), which allows the right data to get to the right application at the right time . Real-time , unified views of your supply chain reduce wasted energy , resources , and time , minimising environmental impact ," says Fairbairn .
“ Supply chains will have to be agile , nimble and flexible to counter significant challenges . Overnight , batch-based processing and planning simply won ’ t cut it . Real-time , fully-integrated and digitised supply chains are needed to reduce the impact of disruption to a minimum ," he adds .
Sustainability the driver of digital transformation Research by Celonis and IBM found that supply chain leaders are under pressure from all sides to become more sustainable – not just from board-level executives , but also from customers and investors – and are embracing technology to hit their sustainability goals . More than half of chief supply chain officers ( CSCOs ) surveyed in the research said that they would be willing to sacrifice up to 5 % of profit to become more sustainable .
148 July 2022