Thank you. Show article references#Hide article references, Cybersecurity, strategy, risk, compliance and resilience, Value creation, preservation and recovery, Explore Transactions and corporate finance, Climate change and sustainability services, Strategy, transaction and transformation consulting, How blockchain helped a gaming platform become a game changer, M&A strategy helped a leading Nordic SaaS business grow, How to use IoT and data to transform the economics of a sport. For information about how we use information you provide to us, please read our Privacy Policy. To live by our business philosophy that our competitive edge at Samsung Electronics comes from the competitive edge of our suppliers, we further push the boundary of our win-win management initiatives to include both domestic and overseas suppliers. In a Harvard Business Review WhiteboardSession,2 Andrew Winston suggests that companies should focus on four components to redefine return on investment for supply chain sustainability: As a result of their ESG initiatives, 55% of supply chain executives say they expect to see better management of operational risks within the next one to three years, adding to the 20% who have already seen these reductions. Kushal talks with Joe about how FarEye is a delivery management platform that helps businesses get the product at a lower cost and more sustainable fashion. Check the spelling of your keyword search. * We assist our 1st-tier and 2nd-tier suppliers in voicing their grievances through our direct phone line (+82-80-200-3300), via e-mail (ssvoc@samsung.com), through an online whistle-blowing system on the Supplier Portal (www.secbuy.com), with on-site supplier consultations, and through various exchange meetings. Combat climate change by measuring energy consumption across your entire supply chain operations, from planning to execution. on 85 RBA criteria. Better collaboration with suppliers also helps to offer new opportunities including access to capital . Samsung Electronicsendeavor to build strategic partnerships withbest-performingsuppliers based on mutual trust. In addition to that, the benefits of low expense, numerous revenue methods, and a worldwide clientele will sustain the e-commerce industry for a long time. We secure an all-encompassing competitive edge in cost, delivery, quality, technology, and human resources in order to maximise synergy, speed, and efficiency with our suppliers and create a corporate ecosystem that enables sustainable growth. 0000011187 00000 n Tim at ARTC Singapore. Indonesia While Indonesia is one of the world's largest producers of coal, banks have increasingly shunned the industry, with Singaporean, Japanese and South Korean banks setting . 0000025374 00000 n the target and do not share the But the supply chain doesn't end when the product hits the market, and neither does supply chain sustainability. EY teams conducted a survey about the sustainable supply chain approaches at 525 large corporations across Argentina, Brazil, Canada, Mexico and the United States (US). . Supply chains are sustainabilitys new frontier. 4 Sep 2019 Risk Singapore English Global English Local sites Albania English Algeria English Angola English If you would like to unsubscribe or have any questions, you can click on the unsubscribe links in our messages or contact us using the information below. Increased revenue. Impartiality means acting fairly and equitably in its dealings with people and in all business operations. This will improve both the working environment and sustainability through automation and streamlining of picking operations, as well as enhance the customer experience for Material Bank Japan users. See our Privacy Policy here. Please Login to continue reading. This site is protected by reCAPTCHA and the Google PrivacyPolicy and TermsofService apply. 0000035199 00000 n Solarisation of warehousing is possible. Supply Chain Management (LOG201) Applications Open: 01 May 2023 Applications Close: 15 June 2023 Next Available Intake: July 2023 Course Types: Modular Undergraduate Course Language: English Duration: 6 months Fees: $1378 View More Details on Fees Area of Interest: Business Administration Investment in the Win-Win Cooperation Fund, Create funds valued at KRW 1 trillion with commercial banks, Provide leadership, job expertise, global and other courses by using our supplier-only training facility, Suppliers that received Smart Factory support, Support 1,000 suppliers and SMEs without business relationships with Samsung across the nation in improving their manufacturing capacity. Supply chains are increasingly facing major disruptions, with the impact of COVID-19 at the top of the list. Green Corridor: Pace and Resolve Needed to Help Reach Sustainability Goals. Our sustainability consulting expertise extends to plastics recycling and sustainable materials , sustainable food systems , supply chain optimization, and diversity, equity, and inclusion . Sites have been updated - click Submit All Changes below to save your changes. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The company is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate . EY teams can support clients as they seek to integrate ESG and sustainability into business strategy, and improve and communicate their ESG and sustainability performance to stakeholders. EY teams 2022 survey reveals that visibility throughout the supply chain is this years top priority for supply chain executives, having been a top-two priority for them in 2021 and 2019. Building a sustainable and ethical workforce worldwide by adopting a people-first approach to supply chain management has clear benefits for organizations: The number of organizations relying on complex and sophisticated supply chains is growing rapidly. Husband and father of two Michigan Wolverines. Though a sponsor of COP26 and known for its efforts to move toward sustainability, Unilevers plastic garbage level was reported by 11,184 eco-volunteers around the world ([link]. Organizations can use supplier evaluation and code of conduct to measure suppliers compatibility and suitability. However, there is one area that Asia could do better to show true global leadership: sustainable growth that respects the environment. Singapore. Environmental, social, and governance (ESG) issues are becoming regulatory requirements throughout the supply chain. Three mandatory compliance items :Prohibition of child labour, guarantee minimum wage, and prohibitionon inhumane treatment. Subscribe to the following Supply Chain Brief newsletters: You must accept the Privacy Policy and Terms & Conditions to proceed. Suppliers identify necessary improvements on their own and make improvements. SIT@NYP Building. 0000001056 00000 n Decathlon is among the few companies that adopt a circular supply chain by using recycled polyester yarn (made primarily from recycled plastic bottles) to produce their eco-design fleece and other products, turning waste into a reusable source. A recent survey suggests 30% of manufacturers are gaining new profits directly from sustainability initiatives, showing a clear opportunity for bottom-line results by implementing sustainability. EY teams surveyed 525 executives about their sustainable supply chain practices. 6)#8T}\>pni7Eu 0000021738 00000 n By viewing our content, you are accepting the use of cookies. Foreign language proficiency of workers is also weak compared to other countries in the region (Singapore, Thailand, Malaysia,) (9). Helping companies transform, create value and optimize business performance. verified through Closure Audits. Organizations must find new solutions to minimize transportation costs and ensure transportation capacity to maintain a competitive edge. Companies need to switch to smart solutions with respect to inventory, warehousing, logistics and distribution management. EY | Assurance | Consulting | Strategy and Transactions | Tax. We have detected that you have enabled the Do Not Track setting in your browser; as a result, Advertising/Targeting cookies are automatically disabled. In this white paper you will find in-depth case study examples from business leaders, in different sectors, on how theyve overcome sustainable supply chain challenges. As supply chains are becoming more complex and global, managers and future executives must have the ability to combine strategic thinking, analytical insights, and strong leadership to guide their companies into the fourth industrial revolution. Thirsty for knowledge. Subscribe Here! Campus location. Join Singapore Business Review community. Emma is a Senior Reporter on the transportation desk at Business Insider , a global news and lifestyle publication with hundreds of journalists in London, New York, San Francisco, Los Angeles, Singapore and beyond. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. This white paper offers an overview, case studies from industry leaders, and a roadmap to help decision-makers take their global supply chain practices from compliance to best practice. . Ski enthusiast. 0000023142 00000 n We regularly monitor all our suppliers in accordance with RBA(Responsible Business Alliance)s verification standards to identify issues and make necessary improvements. They can be interconnected to optimize their full benefits for an effective supply chain. . Locate new warehouse space in existing urban areas for keeping live animals so undeveloped lands stay untouched. Copyright 1995-2023 Samsung. ;9y _0b]_?on/e{~b)?~"Jin_O )*bnLg[reSj?\r#7Jlhe6h#Y l5vpJ[1dk(0(c+3. Many have long-term strategies but struggle to measure their progress. It is then shared and agreed to among all stakeholders, including suppliers across the chain. In Q1, 2023for example an expanded Neste Sustainable Aviation Fuel (SAF) refinery will be coming online in Singapore. The company's supply chain has led to reductions in lead times and waste while adhering to high sustainability standards. A sustainable supply chain is an important part of improving a company's environmental, social, and governance score which have an impact on attracting more customers and investors (see Figure 2).Supply chain activities are responsible for the bulk of scope 3 GHG emissions of a company. Embed ethical and sustainable supply chains into your organization. Singapore is highly dependent on food imports and has an open economy that exposes it to volatile global markets, so it is acutely vulnerable to the effects of the pandemic on other countries, the effectiveness of measures taken by foreign governments to combat the spread of the virus and . Playing our part to enhance supply-chain sustainability is non-negotiable. Traditional supply chains sought to achieve stability and minimize costs. ADJUSTING TO A NEW TAX REGIME. Collaborate with ethical suppliers and source materials responsibly with Oracle Procurement. End-to-end supply chain visibility allows organizations to monitor and track various components, materials, and finished goods in transit, starting from the initial purchase of raw materials through the delivery of finished goods to the customer. Trailblazers have an extreme focus on transparency. Please choose which emails to receive from each site. self-assessment or engaged in allegation, Conducted by independent dedicated Consumers are asking sophisticated questions about sustainable sourcing, labor conditions, and why they cant find basic needs on their grocery store shelves. In terms of sustainability program ROI, nearly half of these trailblazers have already seen improved employee quality of life (compared with 37% of companies overall). It imports more than 90% of its food from more than 170 countries and regions. . The writer is head of trade, ASEAN and Singapore, Standard Chartered. Conserve energy by driving space and location efficiencies across the factory floor, distribution centers, and transportation modes. To reap the benefits now and in the long term, companies should align to science-based targets and begin work to define and achieve those goals. This growth has highlighted vulnerabilities, particularly in human rights, modern slavery and health and safety. This site is protected by reCAPTCHA and the Google. Additionally, corporations that source raw materials or intermediate items from developing nations could . Sustainability certificates, audit results, material pollutants tests, and corrective action plans can be used to ensure suppliers adherence to these standards. Leverage available tax incentives and grants. However, the business case benefits for some companies stretch beyond cost savings to increased productivity, profitability and better management of operational risks. 0000022565 00000 n Customer demands for socially responsible consumer goods are being met. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. "Sustainability in the Supply Chain" is based on a holistic approach that comprises the steps "Prevent - Detect - Respond" and concentrates on minimizing risks. By supporting a healthy and sustainable workforce, and making a stand against corruption and environmental impact, you will add value to your business. Og+4?kz7! Our experience shows that vision and pragmatism go hand in hand. Email Address. Oracle Fusion Cloud Supply Chain Management helps reduce environmental impacts while saving costs and delivering higher levels of service. To help us insure we adhere to various privacy regulations, please select your country/region of residence. Sustainability in the Supply Chain. Foreign language proficiency of workers is also weak compared to other countries in the region (Singapore, Thailand, Malaysia,) (9). Credits Photo: Andrew Coop/Unsplash Caption The Logistics & Supply Chain Management Society, brought to you by The Logistics & Supply Chain Management Society. onbusiness volume or dependence, Located in Doing so not only requires complex attribution of circular content from raw materials to the finished product but it also helps account for the ecosystem of the . Samsung Electronics operates a mineral management system based on 'OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas', and manages smelters in the supply chain through suppliers we work with. 3 December 2021 Forests for Fashion. With little land for agriculture, Singapore imports 90 per cent of its food supply - making the urban city state potentially vulnerable to external shocks and global trends that impact food supply and safety. . Sellers, no matter how small it is, are pacing up with the acceleration of digitization and learning how to sustain in these unprecedented times. It includes defining the social and environmental standards and evaluation criteria. Is your warehouse systematically organised to help your warehouse personnel with picking and packing of orders? Prior to joining IDC, Dr. Holmes worked at the Singapore Institute of Manufac- turing Technology (SIMTech). We noticed that you changed your country/region of residence; congratulations! )%%x$|J#rY @]p& *UZ%*Z. 2020 EYGM Limited. Find opportunities to use recycled materials in product design, packaging, and manufacturing. 0000013060 00000 n Similarly, the cosmetics company, LOral, participates in collaborative activities through a forum that allows its suppliers to present ideas and products concerning LOral events and needs. Ashish is the Director Strategy with Accenture Singapore leading their Sustainable Supply Chain practice in SEA. Increased profit - working more closely with suppliers and inventory, as well as shipping and transport costs, helps reduce overheads and optimize cash flow. End-to-end supply chain transparency is critical; sustainability initiatives must extend from raw materials sourcing, to last-mile logistics, and even to product returns and recycling processes. The Responsible Minerals Report including smelter list and other information, outlines Samsung Electronics efforts to minimise the negative social and environmental impacts of mining operations, which are susceptible to human rights infringement and environmental destruction. Thus, minimizing waste. This site uses cookies to personalise your experience, analyse site traffic and keep track of items stored in your shopping basket. Founded in 1972, SIPMM has since become a leading authority in the specialised field of logistics, procurement, warehousing and supply chain management, offering a wide range of professional and executive education, to help individuals and organisations achieve excellence in these fields. The importance of a sustainable supply chain. Annual self-assessment of all first- Incorporating digital technology is essential for efficient operations in this rapidly digitizing world. The extent and pace of implementing digital technologies are subject to crucial enablers the capacity and environment and the capacity of trained employees to apply the technologies proficiently. Hn,Mx6'Wbx! All rights reserved. Develop methodologies to measure risk for each supply chain node, warehouse, factory, supplier, geography, or transportation node. H&M's supply chain strategies have played a major role in revolutionizing the fast-fashion supply chain as consumers grow increasingly concerned with sustainability and responsible sourcing. How do we balance the cost of investments in Digitalization and Automation in pursue of sustainability? It looks like you are changing your country/region of residence. Organisations that embed sustainability in their supply chains can reduce costs, increase productivity, innovate, differentiate and improve societal outcomes. A good example is one company that implemented a no-shipment, however small, leaves any of our factories without a Certificate of Origin approach which drove thinking and efficiencies that led to multiple-millions of dollars of annual savings for very limited sustained effort. Sustainable Supply Chain | Sustainability | Samsung Singapore Sustainable Supply Chain We ensure that our materials are sourced ethically and responsibly We support our suppliers to build a stronger competitive edge in order to establish a sound corporate ecosystem and a sustainable supply chain With sustainability in mind, supply chain executives are forging ahead, taking steps to protect their access to resources and bolster resiliency, and yet finding challenges to overcome and new opportunities to further explore. The research shows that while many executives have long-term sustainability goals for their supply chains, few have the visibility, technology and comprehensiveprograms in place to measure their progress. Optimizing the transport network may be complex, but it eliminates cost overruns, reduces fuel consumption, and creates fewer emissions. Regis Hotel in Singapore from 8 a.m. Disruption is generally anathema in supply chain circles. 0000021909 00000 n SINGAPORE - Media OutReach - 15 March 2023 - Leading global logistics service provider, the Rhenus Group, shared updates on its sustainability efforts, from an affiliation with Clean Cargo under Air & Ocean to receiving the gold status for its sustainability performance in 2022 by EcoVadis. Digital transformation driven by Industry 4.0 and national digitalisation initiatives, has given . Strategic roadmap launched to promote sustainable supply chains for the fashion industry in Singapore. More than 80 percent of respondents claimed the pandemic had no impact or increased their firms' commitments to supply chain sustainability. Samsung.com Services and marketing information, new product and service announcements as well as special offers, events and newsletters. In short, supply chains will need to become agile. 0000002914 00000 n Theyre licensed to be an ocean freight forwarder, and theyve bought some aircraft and an airport; and of course they are a huge warehousing player. Sourcing organic, eco-friendly, or sustainable materials and goods help reduce supply chain risk and develop long-term sustainability. 0000041685 00000 n 0000021192 00000 n Food prices rose by 4.1% in April from a year earlier,. RCEP, for its part, will be aiding Vietnam to conform better with regulations of C/O; and maintain its sustainable development in the incumbent markets. NFG Digital tools, data analytics and collaboration platforms help organizations capture metrics, set key performance indicators and establish governance. They can be used to ensure suppliers adherence to these standards factory, supplier geography. Executives about their sustainable supply chain practices, but it eliminates cost overruns, reduces Fuel consumption and... 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