Ever-evolving regulatory requirements, consumer demand and investor expectations are all forcing manufacturers to increase the transparency of their supply chain, but few organizations have arrived at that destination, according to a new survey by SaaS supply chain provider Assent.
The survey of 152 organizations, conducted in conjunction with Endeavor Business Media, found that 76% of complex manufacturers are still in the planning or foundational stage of supply chain ESG development.
Only 25% of manufacturers said they had a high degree of confidence that their supply chain can support their sustainability goals, and even more worryingly, only 31% said they were highly confident in the accuracy of their supply chain data.
“While growing demand for supply chain sustainability is well-reflected in planned increases to ESG and sustainability budgets, the fact that only 31% feel highly confident in the quality and accuracy of their data indicates a lack of depth in manufacturers’ current programs,” said Sarah Carpenter, Assent’s corporate responsibility director.
Here’s a look at a few other key findings of the report:
- 69% of organizations are planning to invest more money in ESG over the next year.
- 80% of organizations are either somewhat or extremely dependent on their suppliers to help them hit their ESG goals.
- 24% of organizations said their companies had achieved their supply chain ESG goals or were at net zero.
