Why Environmental, Social & Governance (ESG) is key to your future business success

Environmental, social, and corporate governance (ESG) is an approach to evaluating the extent to which a business works on behalf of social goals that go beyond the role of a business to maximise profits.

Ethical and sustainable business processes and practices are an increasing factor for today’s conscious consumer, a business must make positive decisions throughout the product lifecycle to balance negative impacts on the planet. Increased pressure from governing bodies and regulatory authorities will also mean that ‘greenwashing’ is simply not an option – businesses need to step up and ensure they can support their claims.

From product development and sourcing to supply chain strategies, businesses need to ensure they can effectively and profitably drive positive change to secure future business success.

Technology is a key factor in tracking your sustainable efforts and creating a high-performing supply chain. Some examples of questions you may want to ask of your current systems are:

Can your ERP software trace raw materials from source?

Can you trace where that raw material was used, right down to individual items, colours, or multiples thereof?

Do you have visibility of the entire production process from start to finish?

Do you have access to real-time data for tighter controls, reduced stock holding and reduced waste?

Can you optimise shipping to reduce costs and the impact on the environment?

If you would like to find out how Prima Solutions can help your business create a high-performing sustainable supply chain, get in touch here

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