Many people don’t fully grasp business on a global scale until they begin running one themselves. For Nathaly Mesa, CITP, years of running small businesses opened the door to international opportunities—and sparked a new fascination. As she applied her business management background in a global context, it became clear that international trade was the natural next step in her career. 

“I began my journey in international trade out of a deep interest in global markets and how businesses expand across borders,” she explains, adding that, while running businesses, “I often encountered opportunities that involved international clients and suppliers. This sparked my curiosity and motivated me to explore the field further.” 

To advance her expertise, she pursued the FITT Diploma in International Trade, a transformative step that, in her words, “gave me both practical tools and strategic insights into global business operations.” 

Combining two passions: global trade and sustainability

Nathaly is a fan of international business and green practices, so when she had the opportunity to work with a sustainable furniture company, she jumped at the chance. 

“One of my favourite stories from my career was working with a furniture company whose concept immediately caught my attention,” she says.

“Their main material was recycled wood, which really resonated with me because it combined two of my biggest passions: international trade and supporting businesses that contribute to environmental conservation.”

Being involved in their international expansion was both exciting and meaningful, she says. She had the opportunity to support them in navigating logistics, understanding trade compliance, and building relationships with overseas partners. Recognizing that her contributions helped a sustainable business scale internationally, while also promoting eco-conscious practices, made the experience “incredibly fulfilling,” she adds. 

Championing Colombian craftsmanship around the world

Nathaly reflects on another project with pride, one that was significant to her—not only from a business perspective but on a cultural and personal level too.  

Working with artisans from her home country, she led internationalization campaigns for their handcrafted products: 

“I worked closely with local artisans, whose incredible craftsmanship reflects Colombia’s rich cultural heritage. Through hard work, strategic planning, and a deep respect for their work, we were able to introduce these unique products into demanding international markets in Europe and North America.” 

“Seeing them embraced abroad was incredibly rewarding,” she reflects. “It confirmed my belief in the value of combining international trade with cultural preservation and ethical business practices.” 

This work underscores her approach to trade not simply as a means of profit, but as a platform to elevate culture, sustainability, and community empowerment. 

A career shaped by cross-cultural intelligence

Looking back, Nathaly now understands the importance of cultural competence and relationship-building in business. It is a lesson she wishes to impart to new professionals in the field of trade. 

“One piece of advice I wish I had known when I started working in international trade is the importance of building strong cross-cultural relationships from the very beginning.”

She goes on to explain that, early on in her career, she placed heavy focus on logistics, compliance, and strategy, “which are, of course, critical,” she emphasizes. “But I later realized that understanding cultural nuances and building genuine trust with international partners can be just as important for long-term success.” 

Now she takes the time to learn about different business practices, communication styles, and cultural expectations, and this, she believes, has helped her avoid misunderstandings, strengthen partnerships, and ultimately close better deals. “If I had embraced that earlier, I believe some challenges could have been turned into opportunities more quickly,” she says. 

How FITTskills shaped her global expertise

Nathaly describes her FITTskills experience as “extremely valuable,” particularly the practical frameworks that helped transform her hands-on experience into strategic expertise. She felt the courses gave her a comprehensive understanding of key concepts in international trade. 

“What I appreciated most was the practical, hands-on approach that helped bridge the gap between theory and real-world application.”

“The knowledge I gained has been directly applicable to my career, especially in internationalization projects and supporting businesses looking to expand globally. It has enhanced my ability to navigate complex global markets with confidence, and the courses have given me the tools to better assess risks, opportunities, and strategies in international trade,” she adds. 

Though she loved all the courses, two in particular stood out to her. 

The Feasibility of International Trade course, she says, helped her understand how to evaluate whether international expansion is a viable and strategic move for a business. It also gave her the tools to conduct detailed market, financial, and operational assessments. 

She also enjoyed the International Market Entry Strategy course, finding that it complemented her feasibility knowledge by guiding her through the process of selecting the most appropriate entry methods, tailoring strategies to different markets, and managing associated risks. 

“Together, these two courses significantly enhanced my ability to support businesses in making informed and successful decisions when entering global markets.” 

Why Nathaly pursued the CITP designation

For Nathaly, earning her Certified International Trade Professional (CITP®|FIBP®) designation was an intentional step to solidify her place in the global trade community:

“I chose to apply for the CITP designation because I see it as a mark of excellence and credibility in the field of international trade. After completing the FITTskills program and gaining hands-on experience in global business, I wanted to formalize my expertise with a designation that is recognized and respected worldwide.” 

Earning it was deeply meaningful: “It felt like the recognition of years of dedication… and represents a milestone in my professional journey.” She also takes pride in knowing that her work and knowledge met the high standards required for the designation. She describes it as more than just a credential; it also reaffirms her passion for global business and motivates her to keep growing and contributing to the field with integrity and purpose. 

Leadership and supporting global business expansion

With her CITP in hand, Nathaly is focused on expanding her leadership roles in international business while supporting companies pursuing global growth through new networks. 

“With this designation, I feel more confident pursuing leadership roles in global business development, expanding into new markets, or supporting companies through internationalization processes.”

“It also connects me to a respected community of professionals, which I believe will open new opportunities for collaboration, growth, and continuous learning throughout my career.” 

Her blend of cultural insight, sustainability-driven values, and business management expertise makes her a powerful force in international trade. She is shaping connections that benefit not just international companies, but also local artisans, the environment, and countries steeped in deep heritage. 

The post CITP Spotlight: Nathaly Mesa—General Manager, Mangles SAS appeared first on Trade Ready.

Some careers are carefully planned. Others unfold through unexpected turns, revealing exactly where someone is meant to be. For Godwin Aigbokhan, CITP, international trade began with a happenstance job opportunity with a friend.

“I entered the field of international trade by accident. I used to work in the development sector, specializing in private sector development. One day, a vacancy arose in an organization I was affiliated with, and a friend of mine resigned to join the development organization I was working for at the time. So, essentially, we switched roles,” he states. 

That chance transition opened the door to what would become a deeply impactful trade career that now sees him facilitating bilateral trade between Canadian and Nigerian companies with the Trade Commissioner Service, a position he’s been in for over 3 years. 

Showcasing adaptability in business during COVID-19

One of Godwin’s most memorable career moments occurred during a period of global crisis: COVID-19. With borders closed and companies unsure of their next move, Godwin helped design a fully virtual model for engagement. 

“During the pandemic, I organized both a virtual delegation trip and a virtual trade show. It was a fascinating experience as there was no template to guide my team.”

Over 1,000 participants from five countries joined the online trade show, an extraordinary number for a first-time digital event. Even more remarkable, several companies that learned about Nigeria for the first time through the show have since executed several projects in the country.

In a moment defined by uncertainty, Godwin created a new pathway for partnership and proved his sharp skill for innovation and adaptability within the world of trade. 

Finding hidden opportunities for good

Throughout his career, Godwin has discovered a unique strength: the ability to identify connections and commercial possibilities that aren’t obvious at first glance. 

“I believe I have a talent for identifying obscure opportunities across different industries.”

For him, the most rewarding moments come when companies validate those introductions—turning “hidden” opportunities into tangible impact. 

An example of this talent at work came with the development of a digital circular-economy marketplace. The project “allowed for the categorization and trading of household waste on an individual basis and diverted waste from landfills,” he states. His work relied on innovative trade models and showed how these can directly support sustainability and community development. 

Advice for trade professionals: Be adaptable—it will serve you well

International trade is rarely linear and Godwin learned early that rigid plans do not survive long in fast-moving environments. 

“

If I could give my younger self one piece of advice, it would be to be adaptable, because the best-laid plans mean nothing if you can’t implement them. I learned this during the pandemic.”

Able to pivot and thrive during these circumstances himself, his advice proves useful in the current trade ecosystem. 

Affirming his experience through FITTskills training

Godwin’s experience with the FITTskills program helped clarify and validate all the hands-on work he’s undertaken throughout his career.

“Taking the FITTskills courses was a truly affirmative experience for me, as I was able to fit almost every activity I have undertaken in my career into the frameworks and models I learnt about during the courses. This made me feel as though none of my previous work was random. I am very grateful for this experience.”

His favourite course—International Market Entry Strategies—felt especially familiar. “I have actually, in one way or another, implemented all of the strategies in my career,” he says, adding that he loved being able to connect each strategy to a specific activity and company in his work history. 

The power of competence with a CITP

Godwin was inspired to get his Certified International Trade Professional (CITP®|FIBP®) designation because he wanted to project a high level of trade aptitude. “As an international trade professional, I want to project a certain level of competence,” he says, adding that “Earning the CITP designation would enhance my profile and help me to achieve this.” 

Not an easy feat to achieve, he feels “very proud” to have gained the designation and he sees it opening new doors for him within his organization. He also hopes that with it, he can play a role in helping his home country flourish with trade.  

“Currently, Africa represents only 3% of global trade, and Nigeria, my home country, has one of the lowest trade-to-GDP figures in the world at just 2%. I believe that by creating platforms for businesses to connect and discover hidden trade opportunities, it will be possible to create jobs, increase incomes, and improve living standards across the continent.”

A future focused on global growth

With a blend of development experience, trade insight, and a gift for uncovering unseen opportunities, Godwin is charting a path that bridges public policy, private enterprise, and international collaboration. 

His work proves that trade is far more than transactions. It is a mechanism for reshaping economies, elevating communities, and widening doors for countries poised for growth. 

The post CITP Spotlight: Godwin Aigbokhan — Trade Commissioner, Global Affairs Canada appeared first on Trade Ready.

Sustainability is one core component of an effective supply chain. Fortunately, modern tools, devices, and software, such as the Internet of Things (IoT) and blockchain, are streamlining how we balance these systems. With highly transparent and secure networks, we stand to improve the overall sustainability of supply chains for cleaner and more lucrative results.

The IoT and blockchain support sustainable supply chains in a variety of ways. By exploring these sustainable functions and how you might integrate them into your business processes, you can build the supply chain stability you’re looking for in an uncertain economy.

IoT provides data transparency that supports decision-making

The Internet of Things is the term given to devices that collect data and then communicate that data over the internet. IoT devices range from industrial sensors to wearable devices, all with various implications when it comes to the functionality of a supply chain. These implications are far-reaching across transportation and supply chains and would not be possible without the world of big data that the IoT taps into and makes useful.

IoT is instrumental, for instance, in developing eco-friendly, efficient fulfillment center strategies. That’s because these processes rely on the kind of big data transparency that only the IoT can offer on a scale that reverberates through the entire supply chain. The IoT enables accurate tracking methods, consistent protocols, and data analysis that all stand to change supply chain decision-making for the better.

Many companies have already experienced the sustainable benefits that come through industrial IoT. Shipping line giant Maersk, for example, built an infrastructure of sensors and mobile and satellite communication technology with the help of Ericsson to monitor its fleet of 300,000 refrigerated produce containers. The increase in transparency of container conditions led to a decrease in necessary inspections. This, Maersk says, means reduced resource use and even CO2 emissions.

As we have seen, the IoT supports supply chain flexibility in the following ways:

• By improving supply chain transparency
• By improving system efficiency
• By reducing resource consumption

As you explore the use of connected devices in your supply chain, consider these benefits. But also understand that with more connected devices, you present your company with more digital security risks.

Want to learn more about managing your company’s supply chain? Take the FITTskills Global Value Chain course here.

Blockchain protects data from interference

Connectivity offers us much in terms of actionable insight and effective communication. And yet, digital threats are a huge concern for supply chain companies. In one infamous example, Target became the subject of a data breach through its vendor and had to inform 110 million customers of their potentially stolen credit card data.

It is precisely attacks like these that make it necessary for supply chain companies to protect themselves against all the threats of the digital world. Malware opens up the gates to your data. From there, you stand to suffer incalculable losses from the damage to your reputation alone. Blockchain systems, however, are changing the playing field with enhanced security measures for protecting data.

Blockchains are decentralized data systems designed for cryptocurrencies like Bitcoin. They store data in nodes linked by cryptographic hashes. Now, blockchains are being integrated by companies like FedEx to improve the traceability of their packages because blockchain can store a (mostly) tamper-proof record of inventory locations and conditions.

With greater accuracy in a record, any data breach can be caught and prevented more efficiently. Simultaneously, these improvements offer much greater sustainability potential through their ability to pinpoint spoiled products or remove recalls with greater precision. Supply chain companies that can track inventory can more effectively reduce waste.

In this sense, blockchain and the IoT fulfill similar functions and offer similar benefits across a supply chain. In fact, utilizing these technologies in tandem can be a great way to maximize supply chain potential.

IoT and Blockchain streamline security and sustainability

The IoT offers unprecedented insight into business functions and supply chain conditions. But traditional networks for hosting this data present all kinds of digital threats. That’s where blockchain can come in to help improve the security of an IoT network and provide new business potential.

Blockchain is unique in its use of servers in various locations to host, protect, and backup data. To infiltrate such a system typically requires absurd amounts of computing power. By leveraging the power of the IoT to assemble supply chain insights, then protecting those insights on a blockchain, you can build greater accountability and security for your supply chain. From here, sustainability becomes easy.

That’s because sustainability means longevity without damage. Getting there requires insight only accurate data records can provide. Apply the IoT and blockchain as you assemble the information architecture needed to streamline a supply chain, and watch cost and resource-saving opportunities open up across your ventures.

The post How the IoT and blockchain are supporting sustainable supply chains appeared first on Trade Ready.

What are the drivers for a circular economy? Discover the main reasons below.

On April 22, millions of people around the world took part in Earth Day, a global mission to “diversify, educate, and activate the environmental movement worldwide,” according to the official website.

This year’s theme, Restore Our Earth, “generated thousands of policy commitments and billions of dollars in financial commitments around reforestation, regenerative agriculture and investment in green carbon removal and decarbonization technology,” according to an official press release, highlighting the quick movement of governments and policymakers toward concrete sustainability initiatives for countries around the world.

For international businesses, these international policy and financial commitments are significant, because they put greater emphasis on newer business and production models—like circular economies—that take an active part in reducing carbon emissions and environmental impact globally.

With more than 1 billion people participating in Earth Day activities each year (making it the largest civic observance in the world), it bodes well for businesses to understand the drivers for circular economies and their potential and impact for future business growth down the line.

What are the drivers for a circular economy?

Proponents for circular economies, given today’s technology, believe that the linear model of consumption is wasteful, and businesses are realizing that their current business models are not sustainable. A number of factors are contributing to the disruption of the current model, including those in the list below:

Economic loss and structural waste

The current economic model of value creation is wasteful. Material recycling and waste-based energy recovery captures very little of the original raw materials and energy investment. Similarly, societal lifestyles are also wasteful; for instance, cars spend the majority of their time parked and buildings outside of working hours are empty.

Want to learn more about managing your company’s supply chain, logistics and how to mitigate risks? Check out the FITTskills Global Value Chain online course.

Price risks

Currently, there is an increase in exposure to risks, most notably volatile resource prices and supply disruptions. Higher resource price volatility can dampen economic growth by increasing uncertainty, discouraging businesses from investing and increasing the cost of hedging against resource-related risks.

Supply risks

Many nations are importers of non-renewable resources. World demand puts the supply of raw materials themselves at risk, in addition, the increasingly elaborate optimized global supply chains needed to meet global demand presents supply security and safety risks.

Degradation of natural systems

Negative environmental consequences related to the linear model, such as climate change, loss of biodiversity and natural capital, land degradation, and ocean pollution, are affecting the productivity of economies.

Regulatory trends

There has been an increased effort on the part of regulators to curtail and price negative business externalities. Governments are creating new laws to address climate change. Such as different forms of carbon pricing taxation schemes to address emissions, and fees for waste dumped at landfills. This pushes businesses and the general public to rethink how goods are produced and consumed. In this context,

the circular model of growth, decoupled from the consumption of finite resources and capable of delivering resilient economic systems, is increasingly looked upon as the next wave of development. An unprecedented favourable alignment of technological and societal factors is now making the transition to a circular economy possible at scale.

Advances in technology

Information and industrial technologies now online are being deployed at scale. This allows the creation of circular economy business approaches that were previously not possible. These advances allow more efficient collaboration and knowledge sharing. As well as better tracking of materials, improved forward and reverse logistics setups, and increased use of renewable energy.

Acceptance of alternative business models

A new model of transaction is emerging. Individuals are embracing business models that enable them to access services rather than owning the products that deliver them. Thus becoming users. This has been demonstrated in some markets, for example, in rental, performance-based, and sharing models. Enabled by new technologies, they are already finding ready customers and experiencing exponential growth.

Urbanization

For the first time in history, over half of the world’s population resides in urban areas. And there are no signs of this trend stopping. With this steady increase in urbanization, the associated costs of many of the asset-sharing services and the costs for reverse cycles, collecting and treating end-of-use materials will benefit from much higher drop-off and pickup density, simpler logistics, and greater appeal and scale for service providers.

The post Drivers for a circular economy: Why businesses are shifting from linear models to circular economies appeared first on Trade Ready.

The triple bottom line, or 3BL, refers to three things: people, planet and profit. In the past companies were almost entirely profit-driven enterprises where every business decision was based on economic prosperity, often at the expense of either communities and/or the environment.

Now, however, there is an increasing focus on the social and environmental impact that businesses have on their stakeholders, local communities and the world around them. This new interest in how companies measure their ‘Social and Environmental Responsibilities’ (SER) reflects the many advantages they hold for the company.

How can being more socially and environmentally responsible help your company grow?

1. High morale and improved productivity

The feeling of self-worth and pride that taking a moral stance can bring to the company’s employees and stakeholders can have a positive impact on productivity and morale.

2. Reducing overhead costs

The company could actually save money. Take the environmental aspect, for example – businesses do not have to begin by thinking on a global scale or changing suppliers to minimize their environmental impact.

They could start by investing in energy-saving lightbulbs, reducing water wastage, going ‘paperless’ and recycling all waste products. These small decisions will save money while reducing environmental impact.

3. Build a committed group of core, repeat customers

Companies can gain a crucial advantage by leveraging their Corporate Social Responsibility (CSR). Responsible consumers are looking for companies that adopt 3BL strategies and are willing and ready to support them – even if it means paying higher prices than competing products.

With the right branding and promotional efforts, companies that implement sustainable practises can become known as ‘green’ and socially responsible, and use this as a competitive advantage in the industry.

The brand image should reflect the company’s values. By incorporating CSR policies into the business strategies, this brand image attracts a whole new segment of consumers, thus increasing profits and allowing the company to grow.

Consider that many businesses, from small to large, are now making sustainability fundamental to their businesses. Companies that fail to keep up with the trend may find they get left behind and are unable to compete in their industries.

4. Attract top talent to grow your company

Businesses that invest in their employees (through training schemes and employee benefit packages, for example), invest in their local communities, and sponsor charities will be more enjoyable places for people to work.

Not only does that make people happier (an end goal in itself) but it will also inspire loyalty and attract talented people to the company. This will in turn benefit the company financially.

There are no true downsides to adopting a 3BL approach to business.

A common misconception might be that by considering the other two factors (people and planet), the third factor (profit) might be diminished. But as we can see, not only is there a growing market for sustainable businesses, but by adopting CSR policies businesses can actually be even more profitable and competitive.

Championing social and environmental causes can both save and make money

By embracing 3BL as a core value, companies have proven themselves successful in their industries, thus covering the “profit” part of the equation, and they also address both social and environmental concerns.

This is possibly a consequence of the public interest.

It’s easier to touch your customers’ hearts when they can clearly see their purchase easing immediate suffering (such as the “buy one, donate one” policies).

This can be more impactful than the more abstract concept of saving the planet by reducing our carbon footprints, reducing waste and using bio-degradable materials.

By winning over dedicated customers, improving employee loyalty, attracting top talent, and reducing overhead costs, this strategy could be your ticket to success.

The only question left is: what steps will your business take next to move towards this goal?

The post 4 ways improving your business’s social and environmental responsibility can boost profits appeared first on Trade Ready.

Most people are familiar with the concept of the bottom line: the last line on a financial statement indicating the profit or loss a company has produced during the accounting period.

While generating profit remains a primary goal, many organizations are embracing more sustainable business practices that move away from a “profit above all” mentality which can lead to social or environmental damage. These practices are part of a company’s Corporate Social Responsibility (CSR) policies, and may include adopting a Triple Bottom Line accounting system.

Triple Bottom Line (TBL or 3BL) is a term coined by John Elkington in 1994, and came to prominence with the release of his 1997 book, Cannibals with Forks: The Triple Bottom Line of 21st Century Business. TBL is used to evaluate business performance from a more holistic perspective, measuring a company’s performance in three areas of impact: social, environmental and financial, often referred to as People, Planet and Profit.

In a TBL system, monetary profit is adjusted to reflect the company’s impact in the social and environmental categories.

In a traditional accounting system, companies are held accountable to their shareholders based on profit or loss generated by the business. Companies that have committed to a TBL accounting system still have a primary responsibility to their shareholders, but are held accountable to all stakeholders. This includes anyone who may be directly or indirectly affected by the activities of the company, positively or negatively, whether they have a financial interest in the company or not.

TBL companies must evaluate their present and future impact in all categories while considering the social and environmental consequences of business practices and decisions.

Looking to determine if your new trade opportunities are viable? Check out the FITTskills Feasibility of International Trade online course!

The social (People) impacts

In the social category, TBL companies strive to develop business practices that benefit both the labour force and community stakeholders.

This could include:

• Offering fair compensation to employees, e.g. competitive, equal pay for equal work
• Avoiding exploitation of labour throughout the supply chain, e.g. child labour, sweat shops
• Providing a safe work environment
• Encouraging a work/life balance for employees, e.g. generous leave policies, health benefits package
• Investing in employees’ health, e.g. healthy cafeteria food, onsite fitness facilities
• Investing in the community, e.g. offering tuition subsidies/scholarships, supporting local charities, sponsoring community organizations

The environmental (Planet) impacts

In the environmental category, the impact of business activities on the planet must be considered. Minimizing any negative impact on the environment means recognizing that sustainability is more profitable in the long run. Practices that are deeper than “do no harm” can do more to promote sustainability, and a “make a difference” approach to business may include:

• Reducing energy consumption
• Reducing waste
• Disposing of harmful waste safely
• Reusing or recycling material, where possible
• Ethical sourcing, e.g. procurement from environmentally friendly suppliers
• Developing non-fossil fuel energy sources, e.g. solar, wind
• Offsetting company’s carbon footprint, e.g. purchasing carbon credits, reducing air travel

The financial (Profit) impacts

The financial category of a TBL company still exists to measure profit or loss, however, under this system the economic value generated takes into account costs of all inputs from the social and environmental accounting.

Adopting a TBL system can pose significant challenges to a company. Effective measurement of the social and environmental categories is difficult, and there are inevitable costs associated with both developing and sustaining an effective TBL accounting system.

However, most organizations will find that the benefits of any CSR policy outweigh the costs over time.

The direct and indirect benefits of a TBL system can include cost savings or new revenue streams, such as:

• Attracting employees and reducing employee turnover; people want to work for good companies and feel that their work makes a difference
• Creating goodwill and building brand loyalty; consumers support companies they feel are good for the community and environment
• Attracting investors interested in ethical or socially progressive investment
• Finding opportunities that might be overlooked in a model solely driven by profit, e.g. creating revenue by processing, recycling or upcycling used components or waste materials into useful commodities

As more organizations develop and improve their CSR models, Triple Bottom Line accounting will become a more prevalent way of measuring a company’s overall impact on people and the planet, relative to its financial profit. Adopting CSR and ethical sourcing practices can mean additional sourcing costs, which companies should consider as part of their cost analysis for importing products.

The post Here’s how to factor in the costs of ethical sourcing to your bottom line appeared first on Trade Ready.

As global warming and climate change continue to serve as threats to humanity, increasing numbers of people want to see green technology used more heavily in global trade.

Those involved in an industry that could soon be radically changed by developments of green technology should know about the latest developments and how they will affect your business. Here are some of the most exciting ways that green technology could change the future of international trade.

1. Taking electric transportation vehicles to a new level of speed and efficiency

Transportation is responsible for roughly 23% of global CO2 emissions. Boats, trucks, and planes mostly rely on fossil fuels like diesel, gasoline, and jet fuel to operate. However, there are major developments currently being made in battery technology which could make transportation more sustainable and reduce CO2 emissions.

The University of Surrey has invented a breakthrough technology called a “very high energy density super-capacitor,” which is capable of being 1,000-10,000 times more powerful than existing electric vehicle batteries. These capacitors could be fully charged in minutes, unlike the current electric vehicle batteries which take hours.

Tesla is already creating a fleet of electric trucks in a project called Tesla Semi, so electric shipping trucks should become more common on the roads in the next few years. Soon, it is possible that these trucks could be outfitted with the super-capacitor technology, or one that resembles it. Once such technology is used on a wider scale, the trucks transporting goods all over the world would see vast improvements in efficiency and produce significantly less CO2.

2. Reducing manufacturing emissions by turning it into fuel and diamonds

Manufacturing is another area of global trade which produces considerable quantities of greenhouse gases, roughly 30% of the world’s CO2 emissions. If significant progress against climate change is going to be made, green technology needs to be developed which can combat manufacturing emissions.

Luckily, such technologies are currently being developed, and have the potential to make an enormous positive impact on CO2 emissions from manufacturing.

One such development is a device made by a Canadian company called Carbon Engineering. They have created a device which is capable of removing one ton of CO2 from the air every single day. These devices  filter air and extract the CO2 directly from it. Carbon engineering even claims to be able to produce fuel from the CO2 that is extracted. Hypothetically, Carbon Engineering could set up their devices right outside of manufacturing plants or on the roofs of other buildings and filter the air to make it cleaner.

A Dutch designer named Daan Roosegaarde has created a similar device to filter out CO2 and be placed near manufacturing plants. Roosegaarde’s device can filter out 30,000 cubic meters of air every hour.

However, unlike Carbon Engineering’s device, Roosegaarde’s 7-meter filter tower compresses the CO2 into diamonds – amazing!

Roosegaarde plans to install his filters in parks and cities across China in the next few years. This could have a dramatic impact on the cleanliness of the air in China, especially in Beijing where air pollution is getting out of control.

3. The future of packaging requires no oil or petroleum products

Another burden on the environment is the immense use of plastics to create packaging. Not only is plastic derived from oil, but many of the plastic products that are created also take long periods of time to biodegrade. Plastic bags, plastic bottles, and plastic containers end up creating pollution in landfills, the ocean, and many other places.

Fortunately, there are a number of breakthroughs which can reduce our dependence on plastics for packing. One company, Be Green Packaging, is offering packaging that is completely biodegradable and made without any petroleum or oil-based resources.

Be Green’s packages are made from natural plant fibers, which are “non-toxic, and biodegrade into compost that is safe and healthy for the environment.” Their packaging products are instead made of plant-based fibers from kenaf, bamboo, rice, wheatstraw, bagasse, and various types of trees.

These packaging innovations are a perfect example of a new green technology that could dramatically reduce the overall carbon footprint of the international trade industry. In the future, if green packaging products by Be Green or similar companies are adopted by large companies such as Amazon or Apple, it could have a dramatic positive environmental impact.

Taking petroleum and oil completely out of packaging could be a major step forward for making companies all over the world greener, and is the exact sort of thing that is needed to fight climate change on a global level.

Adopting green technology is crucial to avoid environmental disaster

If global warming is not fixed, scientists estimate that the average temperature in the United States could increase by 10 degrees Fahrenheit in the next 100 years. This could cause a number of devastating effects. For example, it can lead to longer and more severe droughts, stronger and more frequent hurricanes and tropical storms, flooding of coastal areas, significantly more intense heat waves, and more.

It is also estimated that due to global warming, Antarctica has been losing about 134 billion metric tons of ice per year since 2002. All of this ice melting and going into the ocean causes sea levels to rise. Rising sea levels would eventually cause flooding in coastal areas and cities such as Miami, New York, and Boston. This would be devastating for the people who live in these areas.

Essentially, global warming and climate change are a major threat to humanity, and will put countless lives at danger in the next few decades. All of the innovations listed above could help to make the international trade industry significantly greener. This could help importers, exporters, manufacturers, shippers, and packagers reduce their carbon footprint and do their part to help fight global warming.

The post 3 types of green technology that will change the future of international trade appeared first on Trade Ready.

While it’s not always easy to start something new, there are many ways businesses of all sizes can reduce their environmental impact and reap other benefits along the way.

To help you get started, we wanted to hear from the experts what misconceptions business might face about becoming greener, how businesses can plan out new ideas, and see what options are out there for businesses to use.

This month’s #TradeElite Twitter chat provided the answers to all of these and more, so keep reading to see what the experts had to say!

Moderator:

Marissa Rosen (@MarissaR1) – Owner of Climate Social LLC in St. Louis, MO.

Panelists:

Margaret Cullen (@CullenMargaret) – Trade Commissioner at Global Affairs Canada (GAC) in Miami, FL.

Lisa Ellram (@SupplyChainLisa) – Professor of Supply Chain Management at Miami University in Oxford, OH.

Yvonne Gruenthaler (@TCS_YvonneG) – Trade Commissioner at Global Affairs Canada (GAC) in Calgary, AB.

Irina Rosca (@sustain_SCM) – owner of SustainSCM in San Diego, CA.

Lora Rigutto Vigliatore, CITP|FIBP (@CITPLora) – Marketing Manager at CircuitMeter in Ajax, ON and International Marketing Professor at Durham College.

Q1. What are some of the biggest misconceptions that need to be overcome about making businesses more sustainable or environmentally friendly?

#tradeelite A1 That little progress is being made

— Margaret Cullen (@CullenMargaret) February 15, 2018

A1. Being sustainability doesn’t have to be more costly– big misconception. You can look for ways to reduce waste that will reduce costs. Reducing waste is sustainable. The savings can be reinvesting in more sustainable materials, energy, etc– so it is a win-win. #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Some of the biggest misconceptions about #business #sustainability programs is that they have no immediate #RO, they are costly & hard to quantify improvements & value #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

Sustainability can be defined as #People, #Planet, #Profit – encompassing much more than just the #environmental side of things! #TradeElite https://t.co/193gctOvXF

— Marissa Rosen (@MarissaR1) February 15, 2018

A1. That you have to make HUGE changes. Little changes can have HUGE impact. Simply thinking about your process. Being open to change. #tradeelite

— audrey ross (@tresAudrey) February 15, 2018

A1: That it has to start in an unsustainable manner – the conventional way. Why not start in an environmentally friendly way to begin with? There’s a fear that the people we do business with may not buy in. #tradeelite

— Anuja Sawant Sarangdhar (@anujasaw) February 15, 2018

Q2. How can you assess your business’s current sustainability levels and environmental impact?

A2. If you are early in your journey— look for low hanging fruit and waste that you KNOW exists- start improving and you will discover more. use lean practices #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A2. If this is a key #business initiative there are various platforms that can help with assessment of current state and planning for future state. Depending on the #INDUSTRY some assessments will vary; @BCorporation is a great resource #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

#TradeElite A2 There are many platforms available at a low cost that will help organization track their sustainability initiatives. For example, Energy Information Systems (#EIS) will keep track, in #RealTime an organizations #carbonfootprint #GHGs

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A2 use of advanced algorithms can evaluate multiple scenarios (MEICO) for example

— Margaret Cullen (@CullenMargaret) February 15, 2018

A2. #TradeElite #corporategovernance #Sustainability AS an SME where are the big energy centres in your usiness process ? or where are the process with the reatest environmental Footprint? are there solutions that can reduce mitigate these?

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

Q3. What type of planning should businesses do before implementing a new sustainability initiative?

A3. You should understand the cost and the benefit— and where possible, go for early successes to prove that you are implementing GOOD BUSINESS IDEAS! #tradeelite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A3- love this question! #business #leaders really need to understand how #sustainability fits into the long term #business #strategy. A #financial, #marketplace , #customer and #supplychain plan is needed to start, measure efforts and success along the way #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A3 Brainstorm with all internal stakeholders. Get buy in first then plan. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

A3. Start where you can! The biggest climate change adaptation challenge is that we are not making the necessary changes fast enough. Small choices have a way of adding up to big impacts. #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

Q4. What do you think are some practical steps small businesses can take to become more sustainable and/or environmentally friendly?

A4. some very basic things #SMBs can implement to become more sustainable involve #supplychain #collaboration, #transparency with downstream & upstream partners. Also just using better lights, offering incentives for #Carpool #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A4. Look at your day-to-day operations– recycling, use reusable cups, turn off lights, look at your power provider and switch to renewable– change your mindset to questioning all waste. #TradeElite

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A4. Finding some leaders in your industry. Talking to your local waste mgmt services. Figuring out what parts of your biz are wasteful & the easiest to change. Making it a company value / priority so your team is on board. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

A4 Join a local organization with a focus on business sustainability. Great way to piggyback on other initiatives, educate themselves about available programs, network, and motivate internal and external stakeholders at the same time. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A4
Some companies are reducing materials instead of thrucking them to landfills

— Margaret Cullen (@CullenMargaret) February 15, 2018

#TradeElite A4 And think about the life cycle or life expectancy of what you buy– buy things that last longer so you don’t need to put them in the landfill. Sorry @IKEA

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A4. A lot of companies (especially in Fashion) are looking at how they can reuse their own waste. Or focusing on a key issue – like water consumption. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

Q5. What other options are available to larger companies to reduce their environmental impact? What are some of the best initiatives you’ve seen lately?

#TradeElite A5 #Walmart rules when it comes to using transportation efficiently. Reduce packaging- you reduce space, reduce waste, reduce landfill, reduce cost. #Amazon also big on this.

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

#TradeElite A5 #Ikea also very good here on packaging reduction and shipping space waste reduction- and make sure packaging is recyclable!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A5. For large #organization #collaboration & #visibility are key! #Blockchain #datasharing are some of the most exciting #supplychain initiatives I am following #TradeElite @FITTNews #blockchaintechnology

— Irina Rosca (@sustain_SCM) February 15, 2018

A5 #BigDataAnalytics All sustainable initiatives need to start with measurement. You can’t manage what you don’t measure. MEASURE UNDERSTAND CONSERVE. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

#TradeElite A5
Wallmart – in 2015 Wallmart pledged to reduce global supplier sourced greenhouse gas emissions by 20 million metric tons

— Margaret Cullen (@CullenMargaret) February 15, 2018

#TradeElite A5
Apples is another example
They have stated tht they have been working for years to educate workers, improve contitions and make Apples supply chain a model for the industy

— Margaret Cullen (@CullenMargaret) February 15, 2018

A5. 100% agree on the leaders listed- @amazon has exciting #packaging collaborative programs with their suppliers like SIOC-ship in own container which helps them reduce the last mile packaging costs and eliminate #customer frustration #winwin #TradeElite @FITTNews

— Irina Rosca (@sustain_SCM) February 15, 2018

I like the #SIOC concept, but #Amazon still has huge strides to make on packaging, in my opinion. I look forward to seeing what #sustainability initiatives they roll out in the next couple years. #TradeElite #CSR https://t.co/ocy2qCoM8M

— Marissa Rosen (@MarissaR1) February 15, 2018

#TradeElite Industries are looking at sustainability. Toronto was host to a first Fashion sustainability conference last fall and now we are seeing sustainable fashion events happening all over the globe.

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A5. @DHLUS is aggressively moving to reduce carbon pollution by moving to electric bikes in some areas & electric trucks. 50% change by 2020, 100% by 2025. Coming straight from the C-suite. #tradeelite

— audrey ross (@tresAudrey) February 15, 2018

Recommend checking out @optoroinc to optimize management of returns, defects, etc. #tradeelite

— leoraudys (@LeoRaudys) February 15, 2018

a5 #tradeelite Came up also for small companies– but we see here transport is big opportunity. Even companies sharing capacity, And FLY LESS! Teleconference, work from home.

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Blockchain would be really helpful to eliminate Original Bills of Lading, people are moving to telex, but it’s a bit pricier. However, Originals have to be shipped by courier around the world… *Shudders* #TradeElite https://t.co/Srq2Lk6qg0

— audrey ross (@tresAudrey) February 15, 2018

A5: Transport is one of the largest GHG sources. We are seeing big companies procuring electric trucks for transportation of their products. #tradeelite

— Anuja Sawant Sarangdhar (@anujasaw) February 15, 2018

Q6. What are some other business benefits to becoming more sustainable and environmentally friendly?

A6. Seems cheesy, but knowing that you are being a leader and doing the very best possible version of your product can be individually rewarding. #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

A6 Employee moral and motivation. Great recruiting tool for employers especially those looking to recruit millennials. #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

Absolutely! Study: 82% of #Millennials look for opportunities to help their company become more sustainable! https://t.co/BoLUUijxBy @ELDaily @Deloitte #CSR #TradeElite https://t.co/YGVV0cnXnv

— Marissa Rosen (@MarissaR1) February 15, 2018

A6 There is also a strong #businesscase for #sustainability. As was mentioned before, reducing waste can increase your bottom line not to mention all of the added #benefits of being perceived in the market as a good corporate citizen #CSR #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

A6- just continuing to have a license to operate should be important enough. As #business puts more pressure on the #environment and #local #communities there is only so much any #system can #sustain without being replenished. #CustomerLoyalty is also key #TradeElite

— Irina Rosca (@sustain_SCM) February 15, 2018

A6 #TradeElite getting the younger generations on board! genX Gen0 motivation is not just the bottom line. for instance @MycoRemedy founded her company following the realisation that she could have more impact as a #Company than as a #NFP

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A6 #tradeelite Growing evidence that more people are willing to pay more for sustainable products and companies. For example I only buy #MethodProducts cleaning because it is a #Cradle2Cradle #Bcorp and has fab, sustainable products! Loyalty!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

A6: With younger generations increasingly focused on sustainability, making environmentally friendly business decisions may help attract investors, as well. #TradeElite https://t.co/t8y2M13JKM

— M1 Finance (@M1_Finance) February 15, 2018

Q7. What are some examples of sustainability programs in practice that you’re learning from or would recommend to other business leaders?

A7 #tradeelite #Walmart sustainability starting 2005– where they announced they would be more sustainable and it would save them money in the process. Cut waste! Walmart still finding more!

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

@attabotics is introducing robotics to the logistics industry driving efficiences and improving worker safety #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A7 #ISO50001 is an ISO Energy Management standard that incorporates multiple sustainable initiatives under one standard. If more facilities adopted this standard, this would help governments around the globe achieve their #ClimateAction targets #tradeelite

— Professor Lora (@CitpLora) February 15, 2018

Q8. Any other advice for those looking to implement new initiatives?

A8. #tradeelite It’s been said— Find early wins that create #costsavings, get people on board, measure and publicize results– get permission to spend some/part of the savings on the next initiative…

— Lisa Ellram (@SupplyChainLisa) February 15, 2018

Start! the more companies begin to think about their environmental footprint, the more they will identify that can be addressed. #TradeElite

— Yvonne Gruenthaler (@TCS_YvonneG) February 15, 2018

A8 It is worth it and there are resources to help you! Don’t be conventional be forward thinking! #TradeElite

— audrey ross (@tresAudrey) February 15, 2018

Read the rest of the chat and follow future discussions by following the #TradeElite hashtag. Stay tuned for the next #TradeElite chat in March, and if you haven’t yet, join us on Twitter at @FITTNews.

The post How international businesses can become more environmentally friendly without sacrificing profitability appeared first on Trade Ready.

In endeavoring to maximize profit margins, companies have been outsourcing their manufacturing as the cheapest way to source their goods. The focus on ethical sourcing is a relatively new trend.

In recent years there have been some major success stories of companies that have gone out of their way to make their sourcing and manufacturing both ethical and responsible. These companies not only boosted the reputation of their brands, but also ensured that workers on their supply chains were being treated well.

Here is a look four companies who earned outstanding reputations and found international success by going the extra mile to achieve ethical sourcing and manufacturing.

1. Patagonia

Patagonia, an American outdoor clothing company, has used organically grown cotton for all of its products since switching from pesticide-heavy cotton crops in 1994. The clothing company altered its entire supply chain to ensure environmentally friendly, safe working conditions. Furthermore, they provide excellent health insurance and gives paid paternity and maternity leave for all of its workers.

Patagonia has built a very strong reputation for being ethical, environmentally friendly, and using ethical sourcing. This positive reputation only strengthens its brand, and gives conscientious customers more incentive to buy.

2. Starbucks

Starbucks is committed to 100% sustainably sourced coffee, and uses a system called C.A.F.E. (Coffee and Farmer Equity Practices) in order to optimize its sustainable sourcing. There are four ideas at the heart of Starbucks’ C.A.F.E. sourcing system: quality, economic transparency, social responsibility, and environmental leadership.

Starbucks strives to always buy coffee at fair prices and ensure each step of the coffee planting, harvesting, processing and purchasing is always done ethically. The coffee giant even uses third parties to verify that its sourcing is ethical. The standards set by Starbucks are now recognized as the industry standard for ethical sourcing.

Starbucks works with over 170,000 farmers and generates billions of dollars in revenue every single year. Its ability to remain both profitable and set the industry standard for sustainability has been a shining example for North America’s coffee industry.

3. H&M

Clothing retailer H&M is committed to supply chain transparency. They publish a list of 98.5% of their suppliers’ names and addresses on their website and update it on a quarterly basis. Anyone can verify whether their suppliers live up to the standards set by the company. This also ensures they can be held publicly accountable for the conduct of their suppliers.

In addition to sharing its supply chain information, H&M also has a responsible sourcing goal of using only 100% recycled or sustainably sourced materials by the year 2030. This makes H&M a trendsetter, and an ethical leader in clothing retail.

In terms of sustainable and ethical sourcing, the fashion industry is view by many as problematic. If a leading clothing retailer like H&M can demonstrate its dedication to ethical practices and sustainability while maintaining profits, there is a potential to change this reputation as other retailers follow this example.

4. The Dr. Pepper Snapple Group

The Dr. Pepper Snapple Group features a social responsibility section on its website which explains the company’s policies regarding ethical sourcing, and outlines the code of conduct it expects each of its suppliers to follow. This section explains how the Dr. Pepper Snapple Group uses third party metrics from groups like the UN Human Development Index and the International Labor Association to evaluate the ethics and quality of the companies that it sources from. This helps to ensure that all of the materials that go into Dr. Pepper, Snapple, and the other beverages made by this company are from good quality companies who treat their workers fairly.

The social responsibility report outlines further efforts to improve energy efficiency, reduce water use, packaging waste, and more. This report allows anyone to take a deeper look into the ethics of the companies sourcing and get more informed about their suppliers.

How ethical sourcing and manufacturing improves the world and the bottom line

Not every company prioritizes ethical sourcing and many products in developed markets are still tied to unethical business practices. Despite this, the long-term trend is turning towards sustainability.

Social networking sites and the internet are making the world much more connected. Seeing and reporting on ethics violations and bad business practices is easier than ever before

Consumers can send the message that ethical behavior is important to them by making informed decisions when choosing which brands to support by purchasing their products.

The opposite is also true, and socially conscious consumers can now easily use the internet to find ethical brands. Customers are using their purchasing power to send the message that ethical sourcing and manufacturing are important to them. As a result, more businesses will change their practices as they acknowledge it makes good financial sense. This should see a rise in brands competing with each other to build ethical reputations to entice new customers. As a result, ethical sourcing and manufacturing practices will become much more commonplace around the world.

The post 4 companies who succeed by focusing on ethical sourcing and manufacturing appeared first on Trade Ready.

As the rate of technological development zooms ahead, and global value chains evolve, companies will need to be ready to open their eyes and minds to the possibilities of new processes and the skills that go with them.

Here, we are predicting the top 8 ways supply chain management will be different in 2018, and how you can keep up.

Check out Part 1 in this series to see the first 4 changes we have forecast in the year ahead.

Read on for 5-8.

5. Self-driving fleets will move from testing to implementation

Recently Tesla has been making headlines with the reveal of their Tesla Semi – the electric car company’s first foray into transport trucks. While there is no clear date for the roll out of the trucks, equipped with advanced autopilot, orders have already started pouring in from big names including Pepsi Co, UPS and Walmart.

Companies that invest in the electric fleets should see a cost savings of 20% over a standard diesel truck, according to Tesla CEO Elon Musk.

Tesla won’t be the first to put a “robotruck” on the road. Daimler’s Freightliner division began testing out its autonomous tractor-trailer in Nevada back in 2015.

But with significant regulatory hurdles, will this new type of vehicle really take off in 2018? The momentum is certainly building, and with good reason. The benefits of autonomous trucks are plenty, and the need to address a rapidly growing demand and diminishing workforce are driving the adoption of the vehicles among the industry’s major players. According to Wired, the trucking industry is now short 50,000 drivers, and as current drivers retire that number could reach as high as 175,000 by 2024.

According to the New York Times, in 2017, companies and investors are on pace to invest $1 billion into self-driving and other trucking technologies – a tenfold increase over 3 years ago. That number is set to increase exponentially over the next few years. Companies of all sizes, including small start-ups are joining Google, Uber and Tesla in developing and testing their own autonomous trucks.

Silicon Valley start-up Embark have partnered with Frigidaire, and have been hauling their refrigerators 650 miles down the I-10 freeway using their robotrucks since October. For now, all automated trips are being supervised by a driver, but Max Fuller, executive chairman of trucking giant U.S. Xpress, has stated that he expects to see Level 4 autonomous vehicles (those that can fully operate without a driver present) to be hitting the roads within in three to four years.

6. Last mile delivery gets disrupted by sharing economy

Thanks to ecommerce pioneers such as Amazon, consumers now expect and demand ever greater control over the delivery of their purchases. Same day delivery has become a reality in major cities all over the world. In order to compete, retailers must now embed logistics into the customer experience from the very beginning.

Lessons learned from the hospitality, staffing, and mobility sectors provide successful examples of how to use sharing across all parts of the logistics value chain. There are infinite ways this can and will transfer over to other parts of the supply chain industry.

Oft-cited giant of the sharing economy, Uber, has taken their ride-sharing service a step further with “UberRUSH”, using GPS enabled apps to connect drivers to ecommerce customers in real time for fast, last-mile delivery. It integrates with ecommerce platforms like Shopify and Bigcommerce.

In urban centres, urban discreet warehousing can enable companies to become more agile in delivering goods on demand.

Logistics providers will need to learn to adopt capacity sharing platforms to remain competitive – or risk losing out to niche companies providing this as a specialty.

The sharing economy also presents new options for businesses to improve efficiency and productivity within their own organization with on-demand staffing (think TaskRabbit, Fiverr and Upwork).

The sharing economy provides endless opportunities for companies of all sizes, and after a few years of proven successes, 2018 will be the year it really explodes into supply chain management.

7. ‘Amazon effect’ moves into industrial manufacturing, high tech and more

Several times a year Amazon makes new announcements about how they are further revolutionizing ecommerce and delivery. The bar continues to be effectively raised and Amazon has become a model to innovative companies who recognize that they must “evolve or die”.

Though it may seem a daunting prospect, omni-channel logistics companies will be looking to rise to the occasion and compete with Amazon head on.

And in order to do that they will have to get on board with some of the best tech tools being developed for business today.

Real-time data collection is now a reality with the adoption of business-ready IoT. Companies that are able to leverage the data they are collecting can better service their customers by not only meeting their needs but anticipating them, and providing convenience through omni-channel ordering from any device.

Now that customers are able to order from anywhere, anytime, the same expectations are raised for delivery. One technology allowing companies to better meet these raised expectations is 3D printing. We talked about 3D printers in our #TradeElite Twitter chat at the end of 2016, and since then the technology has continued to gain momentum in adoption, allowing companies to react quickly to changing customer demands by producing parts in house, as needed.

As mentioned in Part 1 of this article series, AI will also empower companies to become more agile, fast and cost-effective in this post-Amazon era of global logistics. With the adoption of these new technologies into supply chain processes anything is possible.

8. Climate change will increasingly disrupt supply chains

Debate it all you want, but the science is in on climate change. And this global reality is adding risk and complexity to international supply chains. The increasing frequency of extreme weather conditions will continue to disrupt transportation, availability of raw materials and labour.

In the last two decades associated costs from supply chain disruption due to extreme weather events has grown staggeringly, averaging tens of billions of dollars per year.

Particularly susceptible commodities include agriculture products and oil & gas, but all transportable goods will be at increased risk of weather-related supply chain disruptions in 2018. Businesses need to be prepared to weather these storms. Building more resilient supply chains with built in safeguards is no longer an option. Companies can do this by diversifying their supply chain with alternative suppliers to lessen the impact from one disrupted vendor, or suppliers concentrated in one region.

In contingency plans, supply chain managers should also look at different transportation options and determine how goods would travel if one method of transport was disrupted. Having backup routes and transport options available at the ready will allow companies to act fast in the case of disruption and reduce the financial and consumer impacts.

We would be remiss to talk about the effects of climate change without mentioning the efforts being made to reduce them. Joining big names such as Unilever, Procter & Gamble, PepsiCo and General Mills in incorporating sustainable practices in your supply chain can save you money on packaging, waste and logistics and reduce your company’s impact on the environment.

That will look good on your ledger and your global reputation in 2018.

The post 8 Ways Supply Chain Management will change in 2018 (Part 2/2) appeared first on Trade Ready.