Sustainable sourcing is an integration of environmental, ethical and social factors through the entire sourcing process. Also, it includes buying sustainable products and services. Sustainable sourcing is a streamlined and simplified supply chain operations providing an economic benefit for customers and suppliers alike through lower prices and improved service levels.
Sustainability is on the high priority of the textile and fashion industry, and sustainable sourcing is a vital part of it. Click to tweet
Global fashion brands are committing to key sustainability to reduce greenhouse gas emissions, conserve water used in production, avoid plastics, eliminate slave labor, and tap into renewable energy sources and more. A report from HSBS, Now, Next, and How for Business has surveyed 8,650 business decision-makers in 34 global markets and has revealed that for many businesses, becoming sustainable is favorable for their bottom line.
Mission sustainability can take apparel brands in various directions. The top performers always recognize the integral connection between sustainability and the supply chain. And trust me, there’s no better supply chain landscape than the application of sustainable sourcing and procurement.
Major textile trading countries are including sustainable sourcing in their strategies to control cost and boost production capacity. Sustainability in the supply chain also help these countries to attain the following goals:
Social: Diversity, local communities, and a good working atmosphere.
Economic: Financial stability, energy demands, and reduction.
Environmental: Biological perseverance, pollution regulations, energy conservation, carbon/water footprint reduction, and global warming.
Looking forward to a sustainable future of the textile and fashion industry. Here’s why textile brands are embracing green sourcing to attain sustainability.
NOW is the right time to startIf you’ve not started with sustainable sourcing yet? NOW is the auspicious time, to begin with- a sustainable supply chain. Everyone around you – competitors, customers, suppliers, government and even non-government organizations are taking sustainability seriously if you won’t start it NOW, be prepared to lose on your market. So, initiate the green sourcing strategies to add move value to your business, pocket, and the planet.
The real POWER of sustainable sourcing
Textile and apparel businesses are being competitive when it comes to sustainable sourcing and procurement. The superpowers of sustainable sourcing are – Social (People), Economic (Profit) and Environment (Planet). With the growing number of suppliers, sustainable sourcing landscape is becoming more competitive. Suppliers are chasing the green alternative – a low-cost alternative with impressive marketing strategies. Positive economics around sustainability has taken hold of the textile and apparel industry. Many successful brands have formal sustainability efforts, and sourcing and supply management and they call it their success secret.
Overcoming barriers of sustainable sourcing
In the textile world, sustainability is the biggest yet-to-fix issue with various stumbling blocks – price, awareness, resources, traceability, values, risk management, profitability, and sourcing. With the growing demand for ethical sourced, sustainable products, businesses need a unique point of difference to boost their sales. Brands are conquering these challenges globally to achieve the best of sustainable sourcing. Businesses are getting more conscious to ensure that their supply chains are sustainable.
The Green alternative is truly cost-effective
Textile marketing strategies and pricing are evolving with increasing numbers of sustainable suppliers. The green alternative is the low-cost initiatives apparel brands are chasing. Green sustainability is making buyers replace their non-sustainable product majorly because of its cost-effectiveness, and social responsibility is another big reason. According to HSBC, 84% of global business are making eco-friendly changes to their supply chain to enable cost efficiency. This report also shows that Sustainability is fast becoming a key conversation
starter in unlocking greater efficiency and cost-saving in the supply chain. Brands are considering sustainable sourcing to improve their revenue and financial importance.
Key to Sustainable Sourcing
Apparel brands are adding more power to their business with sustainable sourcing. Green sustainable has taken a good hold on the textile and apparel market and the supply chain for the betterment of Society, Environment and Economy.
If you haven’t started sustainable sourcing yet, follow the below steps to take a step towards green sourcing.
– Identify your company’s green specifications and sustainability needs.
– Develop a whole new strategy including green sourcing.
– Introduce new sustainability policies and processes to your sourcing units.
– Analyze the process thoroughly.
– Compare the prices of sustainable and non-sustainable products and services.
– Influence your market intelligence team to find sustainable and green alternatives.
– Keep monitoring and evolving your sourcing strategy depending on your business needs and demands.
These keys will surely help you create a strategic sourcing model that includes social responsibility as a leading part of it.
Doubtlessly, sourcing strategy is best for brands and retailers to align it throughout their supply chain. Individual consumers can also add more power to their choice by picking sustainable products and services.
Sustainable sourcing is the future of textile sourcing. Check out our recent Webinar to learn more.
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