Sustainability is no longer just the domain of governance and risk management but something a whole business can embrace as a means to resilience and profit. 2022 presents an excellent opportunity for brands to innovate and engage current and future customers through their sustainability strategies.
Societies - and the consumers and investors that operate within them - expect your business to step up and play its part in creating a fair community and limiting its impact on the environment. Therefore, It is important companies have a strong sustainability strategy to hit government targets and adhere to ever-increasing pressure from consumers.
But businesses can’t go it alone, which is why having suppliers engaged in the journey to identify, prioritise and fulfil business sustainability commitments and drive urgently needed change is essential.
Supplier collaboration brings transparency and the ability to make informed decisions based on reliable data.
The resulting opportunities include being able to:
- Innovate and show leadership in the transition towards decarbonising the economy.
- Focus new product development activities on the products that matter most to your customer.
- Prioritise improvements on important product/ingredient/components.
- Communicate a product’s sustainability attributes credibly.
- Respond quickly to customer and consumer group requests for information.
- Negotiate successfully because buyers know better about the product and origin.
- Proportionately mitigate risk, focusing on what is material to the business and supply chain.
- Plan backup supplies because the source and risks are known.
- Diversify the supply base.
When you focus on products and supply chains, cooperation with multiple stakeholders is the backbone that brings transparency. Recognising this, ‘The Complete Guide to Data-Driven, People-Centric Sustainability’ brings a methodology built over 20 years of working with retailers, brands and their suppliers to gain transparency, gather data and make improvements. With a sustainability lens, it gives concrete guidance on how to obtain the right data and motivate people for results.
Businesses at any stage of their sustainability journey, be it at the beginning or simply those who need to review their existing system, will find value in this informative and pragmatic white paper.