By Robyn Kahn Federman, Liquidity Services
From the C-suite through the supply chain, increased emphasis on sustainability, spearheaded by consumers – particularly Generation Z (the generation born between 1997 and 2012) — is leading to a renewed interest in developing sustainability initiatives specifically for reverse logistics.
Consumers tend to buy from sustainability-focused companies. Sustainability is a key consideration because it essentially minimizes the environmental footprint while maximizing economic and social benefits. And it is a natural fit for reverse logistics, because the aim of reverse logistics is to recover value from returned products, reduce waste, and minimize environmental impact.
The journey to become more sustainable through recycling, refurbishment, and remanufacture extends not only through the supply chain, but throughout a company’s logistics operations and even into its HR (human resources) department — the fair and ethical treatment of its workers is as much a part of a company’s sustainability quotient as is its use of energy-efficient fleet vehicles.
With respect to reverse logistics, what exactly are “sustainability initiatives”? How do you measure their impact? Which initiatives truly move the needle and which simply look good in a company’s ESG report? It helps to start by understanding the “circular economy” and how it impacts us in our daily operations.
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