By gathering real-time data via the Internet of Things (IoT) and edge technologies — then applying sophisticated data science and analytics — companies can target sources of waste and inefficiency with a high degree of confidence. In order to optimise performance and implement sustainable practices they can leverage cloud computing with targeted technology solutions and take advantage of mobile devices, satellite-guided navigation and complex algorithms, making their end-to-end, network-based operations as efficient as possible.
Perhaps most exciting, organizations can now capitalize on artificial intelligence and autonomy to create a continuously more sustainable global supply chain. By training the supply chain to monitor and minimize its environmental and social impacts in real time, companies can make sustainability a basic tenet of their operations on a daily basis. With total AI-enabled supply chain cost savings estimated by McKinsey to be $1.6 billion, the stakes are high — and companies need to take action to claim their share of these financial rewards. As stated in a published report by Vision2030, “The capabilities of AI—including automating routine tasks, analyzing big data, and bringing intelligence and learning to various processes— expand our capacity to understand and solve complex, dynamic, and interconnected global challenges such as the Sustainable Develop Goals as s et by UN member states.