Sustainable supply chains are essential for organisations to meet economic, social, and environmental goals. The pressure for change is so great that many companies now Continue Reading
The post The Role of Technology in Building Sustainable Supply Chains appeared first on EarlyBirds Blog.
Sustainable supply chains are essential for organisations to meet economic, social, and environmental goals. The pressure for change is so great that many companies now have a Chief Sustainability Officer, Chief Environment Officer, or Net Zero Officer responsible for sustainability. One of their most important roles is revamping existing supply chains to meet sustainability requirements.
Fortunately, technology can enhance transparency and optimize processes for greater efficiency. It can help reduce inventory, waste, and time spent as well as reduce an organisations’ environmental footprint and costs.
The following are some of the technologies best able to help organisations create sustainable supply chains.
Blockchain
A 2024 study found blockchain is the most used technology for supply chain sustainability. The reasons are multi-fold.
First, blockchain increases trust, transparency, and traceability. Records are immutable and easily shared between stakeholders. Retailers and consumers can trace the origin of products to the point of sale. This is increasing important as organic products grow in popularity.
Second, blockchain reduces risk and secures data, which in turn reduce costs. There is less chance of data breach and expensive remediation efforts.
Finally, blockchain can enable sustainability by providing a straightforward way to track carbon emissions, waste reduction, and recycled inputs. It can also play a leading role in regulatory requirements. By analysing pertinent data it ensures organisations meet certificate, energy, waste, water, and emission regulations.
Internet of Things (IoT)
Digitizing business processes improves efficiencies and productivity. This can also lead to more agile production processes that can easily respond to market change.
Furthermore, the World Economic Forum suggests business digitization may lead to greater price transparency, a lower risk of market monopolies, and decreased transaction costs in many areas.
Artificial Intelligence
AI can help organisations build sustainable supply chains in several ways.
First, it can analyse and derive insights from large datasets. This ensures companies better predict product demand to optimize inventory levels.
Second, machine-learning algorithms can help companies reduce waste and energy consumption. AI also integrates well with Internet of Things (IoT) devices to identify areas of inefficiency and excess data consumption.
Third, AI can drastically improve logistics. Since transportation accounts for about a quarter of all global emissions, using this technology is an efficient way to reduce a company’s carbon footprint.
Fourth, AI can analyse data throughout the lifecycle of a product. By identifying areas needing improvement, companies can improve extraction, manufacturing, distribution, and disposal processes.
Finally, AI can detect anomalies, predict failures, optimise equipment, and adjust maintenance schedules by analysing real-time data.
Plotting Change Towards Sustainable Supply Chains
As regulatory constraints and customer demands grow, it is more important than ever that organisations fine tune their supply chains. Yet, finding appropriate technologies and talent may be a challenging task for many companies.
Fortunately, organisations can access the guidance, talent, and innovations they need to optimize their supply chains. Whether you are a Chief Sustainability Officer, Chief Environment Officer, Net Zero Officer or anyone else tasked with sustainability goals, EarlyBirds makes it simple to create a roadmap towards success. We offer multiple methods, each with the following benefits:
- Increased productivity
- Improved operational efficiency
- Enhanced competitiveness
- Connections to the best Subject Matter Experts and innovators available
- Simplified process
EarlyBirds Skill Identification Program
Our skill identification program offers potential solutions to organisation to find and retain the best in the current talent pool.
The program is overseen by veterans in the industry with a high level of credibility and expertise that benefits all parties. It also provides actionable data-driven recommendations fuelled by cutting-edge technologies, such as artificial intelligence, machine learning, and predictive analytics.
EarlyBirds Open Innovation Ecosystem
Our award-winning Open Innovation Ecosystem allows both innovation and strategic thinking in all areas of a business, whatever the technical or business challenge or potential opportunity your organisation wants to explore.
With a data pool of over 5.0 million global innovations across many industries, it is possible that solutions already exist that address your organisation’s challenges. Alternatively, your organisation can list your needs and request solutions from innovators.
EarlyBirds Ecosystem Maps
EarlyBirds’ Ecosystem Maps offer strategic value for decision-making. They empower company officers, because they provide a full picture of the possible technological advancements in specific domains. This allows them to make informed, forward-thinking decisions.
Each Ecosystem Map contains startups, scaleups, and mature companies involved in specific themes and sub-themes making it possible for organisations to plot a path towards innovation. The map also tracks numerous daily and historical news and media articles from across the world.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required. It is designed to speed up the process of technological innovation for the organisation as a service.
The Explorer Program includes several features including quarterly and monthly innovation days; regular webinars to help stimulate innovation in the organisation; a focus on types of innovations; a platform enterprise license; and a nominated SME for the business.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet organisational, technical, and risk requirements.
The program is run by an EarlyBirds’ Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
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Companies need to approach their supply chains in a new manner if they are to meet sustainability requirements. Luckily, EarlyBirds can help.
If your organisation needs to plot a path towards sustainable innovation or lacks technologies, talent, or expertise, please sign up as an Early Adopter. Alternatively, please request a consultation for a more personalized approach. The technologies mentioned above are just a few of the possibilities available to business.
Our experience extends to the Food Industry, Retail, Healthcare, Operations & Maintenance, Manufacturing, Finance & Insurance, Energy, Education, Cybersecurity, Sovereign Nations, the Public Sector, and many other areas. We can help your organisation plot a path to sustainable supply chains that meet your corporate objectives.
The post The Role of Technology in Building Sustainable Supply Chains appeared first on EarlyBirds Blog.
