W12

Sustainability in Supply Chain Management (SCM)

The practice of ensuring that supply chains operate in an economically, ecologically, and socially responsible manner.

Triple Bottom Line

A framework for measuring sustainability that includes economic, ecological, and social performance.

Circular Economy

An economic system aimed at eliminating waste and the continual use of resources by retaining the value of products, materials, and resources in the economy.

Linear Economy

An economic model based on a 'take, make, dispose' approach, often resulting in waste and resource depletion.

E-Sourcing

The process of procurement conducted through electronic methods, which can include online catalogues and auctions.

Code of Conduct for Sustainability in SCM

A set of guidelines established for suppliers to ensure that they adhere to sustainability principles.

Supplier Relationship Management (SRM)

A systematic approach for developing and managing partnerships with critical suppliers.

Life Cycle Assessment (LCA)

A technique to assess the environmental impacts associated with all the stages of a product's life from raw material extraction through processing, distribution, use, repair and maintenance, and disposal.

Key Performance Indicators (KPIs) in SCM

Measurable values that demonstrate how effectively a company is achieving its key business objectives.

Eco-design

A design approach that considers the environmental impacts of a product throughout its life cycle.

Environmental Assessments

Processes used to evaluate potential impacts of a project, plan, or policy on the environment.

Risk Management in SCM

The identification, assessment, and prioritization of risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events.

Stakeholder Engagement

The process of involving individuals, groups, or organizations who may be affected by or can affect a decision, project, or policy.

Product Carbon Footprint

A measure of the total greenhouse gas emissions caused directly and indirectly by a product throughout its lifecycle.

Sustainability in Procurement

The practice of ensuring that procurement processes consider environmental, social, and economic factors and impacts.

Co-Creation in SCM

A collaborative approach where businesses work with stakeholders, including customers and suppliers, to create value and innovate sustainable solutions.