Typically, sustainability means “meeting the needs of the present without compromising the ability of future generations to meet their own needs.”- Ms.Gro Harlem Brundtland.
Admittedly, the move from the Third Industrial Revolution to Industry 4.0 will not be easy. While enterprises are eager to adopt advanced digital technologies (Industrial IoT, predictive analytics, AI/ML, immersive tech, and the like), a number of roadblocks remain. Nearly 70% of projects are stuck in pilot purgatory, unable to scale beyond the initial proof of concept. Less than a third of manufacturing companies are deploying Industry 4.0 solutions at scale.
It has become increasingly clear that successful businesses are the ones willing to evolve and reimagine. For most, that now means recognizing the need to operate within a complete digital ecosystem that takes advantage of the wide range of digital technologies previously unavailable.
As climate change undeniably ravages the planet, the need for reform in Manufacturing, above all industries is becoming dire by the day. As the industry that provides the largest number of jobs in the US, Manufacturing needs companies to make collective, deliberate and organized efforts toward building a sustainable future. Green Manufacturing is no longer just a trend, it is a necessity and an inevitability.
In an increasingly competitive world with scarce resources and a deteriorating climate, Artificial Intelligence can help organizations navigate their path to sustainability and efficiency. AI has the potential to lower energy costs, cut energy waste, and accelerate the use of clean, renewable energy sources in power grids.
‘There’s always light at the end of the tunnel’ is the adage that can truly define how we plan to celebrate these last few days of the year. This year might remain etched in our memory as a grey year for a slightly rough edge it had. Given the massive scale of events this year, we should make a collective wish for a better future for humanity through sustainable practices both at home and on an industrial scale.
The fashion industry is the 3rd most polluting industry in the world, and by the year 2030, it is expected that there will be 148 million tons of fashion waste. With such data, it is undeniably important to understand the importance of ‘Sustainability in the Fashion Industry!’
A company’s approach to GRC (governance, risk management, and compliance) can help align the organization’s processes and actions to achieve its goals. The term GRC refers to the composite function of governance, risk management, and compliance. It can identify and address organization-wide risk, and ensure all activities meet legal and regulatory requirements.
Taking steps toward sustainability and greener manufacturing is a financially sound decision. From tax benefits and access to exclusive grants and loans to higher stock prices, the shift toward green operations is undoubtedly a wise decision.
Sustainability, much like charity, begins at home. It’s an inside out process that needs to start at the core of a business or a person. The shift toward sustainability isn’t just about how we can do things differently, it’s also about how we can think differently.
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