Mining Digital July 2023 | Page 31

The estimated cost of ignorance in supply chain sustainability will reach US $ 120bn by 2026

Africa , asserts that ‘‘ sustainability has made collaboration the new competition .’’ adding that ‘‘ more than ever , companies need to establish strong supplier relationship management and collaborate within their ecosystem to share knowledge on challenges , local regulations , and new methods of reaching their ESG goals .’’
By working closely with suppliers , mining companies can work together to create more efficient and environmentally friendly solutions that benefit everyone involved . For example , suppliers can provide feedback on production processes and share working practices for reducing energy consumption or improving waste management systems . Creating such a communication channel builds trust and is vital for achieving sustainable supply chains .
Another effective strategy for creating a sustainable supply chain is embracing technology . Technology enables businesses to identify inefficiencies and implement new processes that reduce waste and environmental impact while maintaining quality standards . This could be electrification technology or digital solutions to improve visibility and traceability across the supply network .
There is no shortcut to building a sustainable supply chain because sustainability is not a destination but a journey . So companies have to be truthful in assessing their people , environmental , and profitability impact to know how to get where they want to , says Adebayo Adeleke .
To create a more sustainable supply chain , companies must establish trust and open communication across their supply network , evaluate where they are in the sustainability journey , and embrace technology that reduces their carbon footprint . This would help mitigate climate change risks and optimise profits and human resources .
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