What is Sustainability?
Sustainability in the context of supply chain management refers to the development and implementation of environmentally responsible and socially equitable business practices throughout the supply chain. It aims at meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Sustainability encompasses three main pillars: environmental, social, and economic sustainability, often referred to as the triple bottom line.
For supply chain traceability companies, promoting sustainability involves ensuring that materials and products are sourced, produced, and delivered in a way that minimises environmental damage, respects human rights, and offers economic benefits to all stakeholders involved.
By focusing on sustainability, companies can reduce their environmental footprint, foster social goodwill, and achieve long-term economic viability, thereby contributing to a more sustainable future.
Related terms
Proof of Authority
Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators.
Deforestation Legislation
Deforestation Legislation encompasses the body of laws enacted by governments to control, limit, or entirely prevent deforestation globally.
Supply Chain Transparency
Supply Chain Transparency refers to the extent to which a company discloses information regarding the practices, partners, policies, and origins within its supply chain.