A new study from the University of Tennessee’s Global Supply Chain Institute outlines the best practices for leveraging transparency in supply chains for financial profit.
The study describes six key practices: embracing sustainability as a major business driver, developing a culture of transparency, partnering with sustainable suppliers, ensuring traceability to enable transparency, finding your transparency sweet spot, and employing outside auditing partners.
“Companies don’t need to have their sustainability practices completely figured out,” said Mike Burnette, director of the Global Supply Chain Institute and a co-author of the study, Creating a Transparent Supply Chain. “In fact, many see it as a work in process. But it is important to establish and stick to a set of ideals and goals on which they communicate progress.”
Creating a Transparent Supply Chain is the third installment in the “Innovations in Supply Chain” series from the university’s Haslam College of Business supply chain faculty.
For more details from the report, read the original article here.
