The case for living more sustainably, across the board, has never been stronger, with the impact of climate change and human activity on the planet now hitting daily headlines.
All this media coverage has, it seems, made the general public really sit up and pay attention – and, since we all know that businesses win and lose based on supply and demand, companies across all sectors will need to put sustainability truly at the heart of all they do, thus ensuring the ongoing success and helping to protect the planet at the same time.
Recent research from the IBM Institute for Business revealed just how important sustainability issues are becoming, with 93 percent of global consumers saying that the pandemic has influenced their views on sustainability.
The highest on the list of concerns was securing freshwater suppliers, followed by reducing pollution, protecting rainforests and other ecosystems, and reducing species loss.
Furthermore, 22 percent more consumers now than in 2019 say that environmental responsibility is either very or extremely important when it comes to choosing which brands to spend their money with.
As such, devising sustainable strategies and adopting eco-friendly processes will help put your business in a far better position, helping you to earn consumer loyalty and trust in the long term.
It’s estimated that more than 80 percent of all product-related impacts on the environment are determined at the design phase of a project. Enter PLM!
In order for brands to start operating more sustainably, it will be necessary to consider the entire lifecycle of the product in question, as well as the wider supply chain, users, economies, industries, and so on.
Brands will need to start measuring and analysing the consequences of their products on the planet’s lifecycle, including supply chain choices and methods of production… all of which can be simplified by making strategic use of PLM systems.
A growing trend for businesses of all kinds is the publishing of sustainability reports relating to their goods and services, and PLM can really help facilitate this, making data more visible through the lifecycle of products, which can then be passed onto consumers or sent out to stakeholders to help improve transparency.
The supply chain also becomes more transparent with PLM tools, which means you’re better able to find eco-friendly suppliers when on the hunt for raw product materials.
Because of the vast quantity of different materials now available, it’s nigh on impossible to accurately track the environmental impact of their finished product – but a materials library can hold all the information required to make related decisions.
Knowing where products and materials come from is half the battle where sustainability development is concerned and PLM software can help you prioritise vendor management, looking after every supplier tier, from the main manufacturer to materials and suppliers.
Companies would then be able to approve or disapprove those they find in the vendor listings and enable them to make informed choices based on the most accurate information available.
PLM adopts a holistic approach to product development, considering the entire lifecycle of the product. Product design involves a vast number of steps, involving an even bigger number of departments and industries, so unrivalled organisation is a must.
The software works by providing document organisation and insights into projects that can be modified over time in line with the changing needs of the business making use of it.
Users have a single accessible platform where everyone can access all the diverse elements involved in product manufacture from wherever they are, helping to drive efficiencies and productivity.
Common software features include collaboration tools, lifecycle intelligence data analysis and collection, and product data management resources. If you’d like to find out any more about how PLM can help make your brand more sustainable, get in touch with the Bombyx team today.