There has never been a more complex time to work in supply chain. The combination of globalization, rising consumer expectations, and the boom of e-commerce is pushing supply chains to their limit. Old processes that included paper trails and excel spread sheets are no longer able to keep up with modern day supply chain demands. […]
CEOs are not considering supply chains until something goes wrong. The task of developing consistent supply chain strategies and making data-driven decisions to improve performance is extremely undervalued. Some organizations have introduced digital visualization tools, yet they still don’t trust their supply chain data, and resort to manual scrubbing to make sense of data. There […]
CEOs are not considering supply chains until something goes wrong. The task of developing consistent supply chain strategies and making data-driven decisions to improve performance is extremely undervalued. Some organizations have introduced digital visualization tools, yet they still don’t trust their supply chain data, and resort to manual scrubbing to make sense of data. There […]
It’s no surprise that plastic packaging has serious consequences for the environment due to the high volume that ends up in our oceans and landfills, and the fact that plastic can take 1,000 years to degrade naturally. Today, plastic pollution is growing relentlessly, and recycling efforts are falling short. Only 9% of plastic waste in […]
What is Inventory Expiration and Why Does it Matter? Inventory expiration refers to product that an organization can no longer sell. It is often referred to as “obsolete”, “excess” or “dead” inventory. Inventory usually expires after it reaches the end of its sales cycle. Naturally, expired stock is a financial loss for an organization. Not […]
Reducing inventory write-offs is one of the most effective strategies for improving your Triple Bottom Line (TBL). The TBL, or 3P model, stands for people, planet and profit. By improving on any of these elements you will see a positive impact on all three. Reducing inventory write-offs helps to improve each of these elements in […]
According to McKinsey, the typical consumer supply chain accounts for over 80% of greenhouse gas emissions and more than 90% of the impact on air, land, water, biodiversity and natural resources. The triple bottom line is a system of measurement that evaluates the financial, social, and environmental performance of a business. This system has become […]
What is Triple Bottom Line? The Triple Bottom Line is a crucial concept for businesses to understand and embrace. It’s a challenge for many companies to look beyond the traditional “bottom line” of profit margin and recognize that their impact goes further than financial performance. By adopting a Triple Bottom Line approach, firms acknowledge the […]
Did you know that between 30-40% of food wasted occurs at the supply chain level? (Centre for Nutritional Studies, 2021). There are a number of different reasons why food waste occurs upstream. Some include over production, quality standards, logistics, unpredictable weather and more. By addressing food waste upstream and at the supply chain level, it […]
Reducing inventory waste can have significant economic, social, and environmental impacts on businesses. But how can companies tackle this issue? One way to address this issue is by adopting a Triple Bottom Line (TBL) approach to inventory management. In this post, we will discuss the three pillars of TBL and explore how they are linked […]
