The importance and urgency around the global sustainability agenda have never been greater for organizations. In fact, in a study by BCG, 62% of companies now consider sustainability as a major consideration for digital transformation investment.
Furthermore, for the companies that do invest in sustainability, according to a recent article, being a sustainability leader unlocks growth opportunities by hitting both financial and sustainability related KPIs.
Hitting sustainability goals requires a truly holistic approach
While it’s true that different companies are at different stages of their sustainability journey, sustainability is now very much an integral part of our everyday working lives. This is true no matter if you are a technician trying to reduce any further unnecessary travel by implementing a first-time fix, right through to a CEO, determining the strategic direction and the technology investments needed to meet sustainability goals.
Today, leading organizations no longer look at the rapidly growing emphasis on sustainability as a hindrance; it’s now a real opportunity to transform and drive significant value by embedding it across all business processes. To turn this ambition into a reality, organizations need the right solution that embeds sustainability into every process; bringing functions together through aligned goals and empowers decision making through a single, accurate data source.
Enabling sustainability through a single technology solution
The role that technology plays in terms of enabling sustainability can’t be overstated. In fact, this recent TechTarget article highlights that as CIO’s look across their priorities, sustainability should cut across all of them.
To truly transform, it’s not enough to just have a joined-up sustainability strategy, critically any strategy also needs to be underpinned by the right solution that can tie together all your different business functions. Without this in place, it becomes exponentially more difficult to synchronize and get each part of the business working together which is why a single platform underpinned by one source of data is so crucial.
In addition, a recent article by BCG Platinion laid out the importance of viewing technology solutions not as “green IT”, but actually by bringing together the technology and sustainability agendas. This approach, underpinned by data from the outset, enables sustainability-driven transformation to create genuine competitive advantage.
How can IFS Cloud help?
IFS Cloud aims to embed sustainability into processes such as re-manufacturing to support circular operations, while tracking emissions and improving operational performance, all of which are part of helping hit sustainability goals.
For example, the pressure on manufacturers to not only make a profit but run the business as sustainably as possible is growing rapidly. IFS Cloud helps manufacturers to not just reduce production line waste, but connect the shop floor back into the supply chain, projects, procurement, and sales functions, to name just a few. The solution enables re-manufacturing using old components and materials as part of supporting the move away from a traditional production line model to one that embraces the circular economy.
Furthermore, as organizations continue to adapt and evolve, supply chains are inevitably getting more complex and difficult to manage. IFS Cloud seamlessly connects your supply chain and procurement processes and provides complete transparency across your entire supply chain. Evaluate, select and manage suppliers based on the sustainability focused criteria that best aligns with your sustainability goals. Realize a reduced carbon footprint across transport and warehousing, right through to the efficient packing of goods using materials that are not only recyclable, but also facilitates a smooth returns process.
Delivering against your sustainability goals isn’t impossible
As business leaders lay out their sustainability goals for the coming years such as net zero, it becomes critical to not just have a plan but have the right embedded solutions in place to help you get there. In fact Deloitte points out that it’s highly likely that many of the senior executives that help set these plans won’t actually still be in post to see them come to fruition. This further highlights the importance of putting the right technology solution in place upfront to ensure it not only delivers value, but is less likely to be replaced as new senior leaders join the business in the future.
SOURCE: PATERSON D. (2024, MAY22) . ACHIEVING SUSTAINABILITY GOALS AS A MANUFACTURER THROUGH STRATEGIC POSITIONING AND COLLABORATION . IFS BLOG. https://blog.ifs.com/2024/05/achieving-sustainability-goals-as-a-manufacturer-through-strategic-positioning-and-collaboration/
