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Essay / The Importance of Sustainable Green Supply Chain Management Practices
Table of ContentsIntroductionGreen Supply Chain PracticesThe Triple Bottom Line ApproachConclusionIntroductionJason Drew once said, “People used to talk about win-win in commercial transactions. They were naive and the environment was still lost. ". This is Jason's speech on encouraging business sustainability, in which he argues that the environment deserves special attention. Sustainable sourcing is profitable, and a focus on social responsibility to improve supply chain sustainability Sustainable supply chain management can be achieved by recognizing the role and importance of green supply chain practices However, traditional management methods. of supply chain do not involve the concept of green supply chain Say no to plagiarism Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayGlobal warming. and constant climate change have forced the world to find environmentally friendly ways of manufacturing, production and logistics Understanding the financial environment and the social need for supply chain sustainability through green management of. The supply chain is of major importance to global organizations. Therefore, green supply chain practices through the Triple Bottom Line approach are essential in today's business, and their improvement can make the organization more environmentally friendly in the future. Green Supply Chain Practices Procurement specialists often face a dilemma when it comes to cost, delivery and quality. However, sustainable development and green supply chain management are rapidly changing this situation. Ultimately, green supply chain management (GSCM) will be the standard of an effective performance system. There is significant proof of the concept of green supply chains. The following studies can help gain a deeper understanding in this regard. Chin et al. (2015) mentioned that green supply chain management is defined as a technology and method to reduce wastage of limited resources, control chemical and environmentally harmful gas emissions as well as utilize optimal energy for maximum productivity. The environmental issue is an opportunity to create economic value. Further research shows that the adoption and use of green supply chain management practices by manufacturing companies improves their levels of environmental and economic performance. The process improves overall operational performance, thereby making green supply chain management practices highly desirable among today's businesses. The role of environmentally sustainable supply chain practices has been positive and significant considering the forms of different organizations based on market, operations and accounting. According to Dues, Tan & Lim, there is a close association between lean and green supply chain. management practices. The authors position green supply chain management as a topic that goes beyond reducing waste. They argue that integrating lean and green supply chain management can lead to better results in production, finances and operations. According totheir findings, there is a causal relationship between lean, agile, resilient and green supply chain management. Authors Chin, Tat and Sulaiman highlight the importance of green supply chain management, environmental collaboration and sustainable performance of global supply chains and assert that green supply chain management involves the integration of environmental thinking. Internal and external organizational factors play an equally vital role in promoting green supply chain management practices. Being green means designing and adopting processes to minimize waste. The Triple Bottom Line Approach The term triple bottom line (TBL) was created and introduced in the 1990s. Today, it is gradually beginning to receive increased attention from the business world. Essentially, the Triple Bottom Line approach advocates organizational sustainability and social responsibility. The method primarily understands social, environmental and financial processes as three levels of a holistic framework. The Triple Bottom Line approach allows organizations to examine their performance in a broader context by evaluating their contributions to social responsibility and environmental conservation. The bottom line of the Triple Bottom Line approach is that organizations must focus on these three outcomes to preserve the three Ps, including profit, people and planet. The strategy allows organizations to measure their financial, social and environmental performance over a given period. The social impacts of TBL concern people and the planet. As such, the triple bottom line approach requires organizations to focus more on ways that help improve the well-being of society as a whole. Demonstrating adherence to corporate social responsibility (CSR) is a good example of the social impacts of the triple bottom line. . CSR measures include educational campaigns, awareness campaigns, professional training and skill development campaigns, which improve the overall position of the company. The strategies can help improve underemployment rates and health-adjustable life expectancy, as well as build exceptional brand equity. From an environmental perspective, green supply chain management is what drives organizational performance through the Triple Bottom Line approach. The sustainable performance of global supply chains relies directly on the adoption of green practices. Critical considerations for integrating green supply chain management practices include careful supplier selection and evaluation, environmental collaboration, and green production and process design. Green collaboration in the green supply chain is essential for both suppliers and customers. At the same time, it is necessary to take measures that mitigate ecological damage, greenhouse gases. It is also essential to mitigate the use of perishable resources and excess energy, use alternative energy sources and effective solid waste management practices. Additionally, the concept encourages organizations to streamline their processes in ways that drive sustainable and green performance. Among these procedures, green supply chain management occupies an essential place. Additionally, the Triple Bottom Line approach is similar to the Balanced Scorecard because it consists of a set of basic principles, an approach that supports organizations on this.