Question

This is related to Sustainability Management in Supply Chains

(1) What do you understand by the term “sustainability”? Why do you think that it is increasingly becoming an important issue considered by many companies around the world?

(2) Implementation of sustainability initiatives by companies can be expensive, but it can also yield economic benefits. By using suitable examples explain how each of the above results can occur.

(3) Two of the three tripods of sustainability are “Planet” and “People”. Clearly explain what these two terms mean within the context of sustainability. What practical steps can a focal company (please name the company) play to ensure that they are implemented not only within the company but across its supply chain.

(4) Using suitable examples, clearly explain the roles that Government and Non- Governmental organizations can play in fostering sustainability.

Answer 1

(1) What do you understand by the term “sustainability”? Why do you think that it is increasingly becoming an important issue considered by many companies around the world?

• sustainability is the endurance of systems and processes.
• It is an art of lasting for a lifetime
• companies around the world yearn for sustainability for better functioning to secure future
• Companies aim for sustainable development that meets the needs of the present without compromising the ability of future generations to meet their own needs

(2) Implementation of sustainability initiatives by companies can be expensive, but it can also yield economic benefits. By using suitable examples explain how each of the above results can occur.

• sustainable development ensures major economic benefits for a company
• sustainable development requires ethical procurement of raw materials for which suppliers cost a fortune from company
• sustainable development requires lowering the emmision of the company for the betterment of society, it requires updateion of machineries and abiding by government norms, which is costly
• sustainable development requires replenishing of natural resources after using them

(3) Two of the three tripods of sustainability are “Planet” and “People”. Clearly explain what these two terms mean within the context of sustainability. What practical steps can a focal company (please name the company) play to ensure that they are implemented not only within the company but across its supply chain.

• Planet has to be sustained in order to continuosly supply the raw materials to the company
• people have to be maintained to continue their support towards the company's goals
• Companies forms various rules and regulations for suppliers to follow ethical and sustainable procurement of raw materials
• Companies form various policies to motivate and upgrade employees to keep them encouraged

(4) Using suitable examples, clearly explain the roles that Government and Non- Governmental organizations can play in fostering sustainability.

• Government and Non- Governmental organizations have formed strict rules and regulations for companies to follow ethical and sustainable procurement of raw materials
• Companies have to perform SCR activities to benefit the society they operate in