Addressing Supply Chain Challenges in the COVID-19 Era
Since the “new world order” ushered in a new era in global trade some 30 years ago with the end of the Cold War, barriers to trade have continued to tumble. “GATT” (the “General Agreement on Tariffs and Trade” rounds of global trade talks that began in 1947) gave way to the World Trade Organization (WTO) in 1995. New rules were applied, and trade continued to become “more liberalized”. Corporate interests responded with dispersal of many their operations.
Large manufacturing companies spread out their sourcing to many new areas of the world, building a substantial network of suppliers in far-off lands. Mid-sized and smaller firms followed the example and began to source globally. Manufacturing moved from “home country” to many other countries over time.
As companies set up their operations in many countries and sourced almost everywhere; fleets of cargo vessels plied the seas with stacks of containers on their decks.
Result: today’s diverse, complex, spread out networks of tier one, two and three suppliers, many in China and East Asia and Pacifica nations, have dramatically changed the face of “home country companies” (such as in North America and Europe).
Therein, we find the risk! Today we present two commentaries for you on today’s global supply chains and how to make these more links sustainable -- and to address the inherent risk in the supply chain mix.
He suggests five steps in “the Pursuit of Sustainability” that spans the corporate enterprise. His five areas “ripe for improvement” include: sourcing; manufacturing; recycling; packaging; transportation. There are numerous tips in each of the categories that may be of value to your organization.
Author David Cahn is global marketing director for Elemica, a Digital Supply Network for manufacturers that automates and provides visibility into supply chains.
Visibility and understanding the risks inherent in supply chains is important and our second commentary for you comes from our colleague Pam Styles, who poses the question: “what’s in your supply chain mix”?
Her comments are directed at investor relations officers (IROs) who are on point to answer analyst and investor questions about supply chain risks and issues as well as to corporate ESG practitioners.
Pam concludes: When it comes to Sustainability – climate change is important but supply chain is urgent. Pam is a long-time Fellow of G&A Institute and a valued collaborator on client projects. She is a long-time member of NIRI and the NIRI Senior Roundtable.
The Pursuit of Sustainability Spans the Enterprise
G&A Institute Sustainability Update™
G&A IS THE GRI DATA PARTNER FOR USA, UK & IRELAND
Sustainability Standard Setters & Policy Makers
ESG / Sustainable & Responsible Investment
COVID-19: During the Crisis / Post-Crisis / Recovery
Corporate Sustainability / ESG
From the Agora: Consumers & Sustainability
The Sustainability Highlights eNewsletter is prepared by Governance & Accountability Institute, Inc. based on continuous monitoring of trends and developments in Sustainability and ESG. Copyrights for other providers are noted where appropriate. Please credit the source if quoted. Content © 2009 - 2020 - All Rights Reserved.
Governance & Accountability Instiute is the "Sustainability Headquarters™" for clients in the corporate, investment, public and social sectors. Based in New York, G&A is a for-profit consulting organization providing a range of value-added strategies, services and resources related to ESG & sustainability to clients in the corporate and capital markets communities. For G&A's full range of services, click on each of the links: Sustainability / ESG Consulting Services, Communications & Recognition Services, Investor Relation Services. For more information, visit www.ga-institute.com or contact us at 646.430.8230 or email@example.com.