Supply chain sustainability is a business issue affecting an organization‘s supply chain or logistics network in terms of environmental, risk, and waste costs. There is a growing need for integrating environmentally sound choices into supply-chain management. Sustainability in the supply chain is increasingly seen among high-level executives as essential to delivering long-term profitability and has replaced monetary cost, value, and speed as the dominant topic of discussion among purchasing and supply professionals.
Defn 2 Supply chain sustainability– is the management of environmental, social and economic impacts, and the encouragement of good governance practices, throughout the lifecycles of goods and services.
Triple Bottom-line
TLB is an accounting framework with three parts: social, environmental (or ecological) and financial. Many organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. The term was coined by John Elkington in 1994. The TBL dimensions are also commonly called the three Ps: people, planet and profits. We will refer to these as the 3Ps. It‘s actually incorporating Social and Environmental issues to Finance which was earlier seen as the only most important issue in Supply Chain Management.
Element of TBL
“profit” or “loss”, which is usually recorded at the very bottom line on a statement of revenue thousands of deaths from asbestosis, and their copper mine pollutes a river, and the perform a full societal cost benefit analysis? The triple bottom line adds two more “bottom
In traditional business accounting and common usage, the “bottom line” refers to either the and expenses. Over the last 50 years, environmentalists and social justice advocates have struggled to bring a broader definition of bottom line into public consciousness by
introducing full cost accounting that is incorporating People and Planet to the bottom line. For example, if a corporation shows a monetary profit, but their asbestos mine causes government ends up spending taxpayer money on health care and river clean-up, how do we lines‖: social and environmental (ecological) concerns. With the ratification of the United Nations standard for urban and community accounting in early 2007, this became the dominant approach to public and private sector full cost accounting
