Submitted:
11 July 2024
Posted:
12 July 2024
You are already at the latest version
Abstract
Keywords:
1. Introduction
2. Literature Review
3. Materials and Method
4. Results and Findings
5. Discussion
6. Conclusion
References
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| SRM Strategy | Description |
|---|---|
| Collaborative Design | Involves joint product development and innovation with suppliers to enhance product sustainability and efficiency. |
| Supplier Development | Focuses on enhancing supplier capabilities through training, technology transfer, and process improvement initiatives. |
| Transparency | Involves sharing information on environmental performance, ethical sourcing practices, and supply chain transparency with suppliers. |
| Technological Enabler | Description |
|---|---|
| Blockchain | Facilitates secure, transparent, and traceable supply chains, enhancing accountability in sourcing and reducing risks of unethical practices. |
| Data Analytics | Enables real-time monitoring of supplier performance metrics, identifying areas for improvement and optimizing resource efficiency. |
| Internet of Things (IoT) | Provides data-driven insights into supply chain operations, enhancing visibility and predictive capabilities for sustainable decision-making. |
| Challenges | Description |
|---|---|
| Regulatory Compliance | Navigating complex and evolving regulatory landscapes across different jurisdictions, ensuring adherence to sustainability standards. |
| Cost Considerations | Balancing initial investments in sustainable practices with long-term economic benefits and return on investment considerations. |
| Supply Chain Complexity | Managing diverse global supply chains, harmonizing sustainability criteria, and ensuring consistency in supplier performance assessments. |
| Benefits | Description |
|---|---|
| Enhanced Reputation | Improves brand reputation and consumer trust through demonstrated commitment to sustainability and ethical business practices. |
| Risk Mitigation | Reduces risks associated with supply chain disruptions, regulatory non-compliance, and environmental impact through proactive management. |
| Operational Efficiency | Optimizes resource use, reduces waste, and improves supply chain resilience, leading to cost savings and operational efficiencies. |
| Consumer Perception | Description |
|---|---|
| Preference for Sustainability | Increasing consumer demand for products from companies demonstrating commitment to environmental sustainability and ethical sourcing. |
| Influence on Purchasing Decisions | Impact of sustainable SRM practices on consumer purchasing behavior and brand loyalty, driving market differentiation and competitive advantage. |
| Future Directions | Description |
|---|---|
| Technology Integration | Further exploration of emerging technologies such as AI and machine learning in enhancing sustainability outcomes within SRM frameworks. |
| Cross-sector Collaboration | Collaboration across industries and sectors to develop holistic approaches to sustainability, addressing interconnected challenges and opportunities. |
| Policy and Governance | Research on the impact of regulatory frameworks and international policies on shaping sustainable SRM practices and global supply chain dynamics. |
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