West Monroe Partners, a full-service business and technology consultancy, announced today the findings from its latest study of supply chain executives that was conducted in partnership with Loyola University’s Supply and Value Chain Center and BearingPoint. The study found that more than half of North American supply chain executives currently consider developing a sustainable supply chain as a strategic priority.
The study also found that of companies that plan to implement sustainability initiatives, improved competitive advantage and brand image are the key motivators. According to West Monroe’s study, 36 percent of companies have plans to incorporate sustainability into their operations and 22 percent of that group plan to do so in the next one to three years.
Last year, West Monroe conducted a sustainability survey amongst North American consumers and found that more than half of consumers are willing to pay at least 5 percent higher prices for products ordered online if they’re delivered sustainably, and 76 percent would wait at least one extra day for climate-friendly transport. European consumers shared a similar willingness to wait longer and slightly more tolerance for higher prices, according to the equivalent survey conducted by BearingPoint. Given these findings, it’s surprising that more companies aren’t making sustainability a strategic priority.
“It’s telling that more companies aren’t implementing sustainable business practices in their operations given the demands of customers,” said Yves Leclerc, managing director at West Monroe. “Most supply chain teams are struggling to manage the complexities of globalization, the war for talent and increasing demands so allocating budget and resources towards sustainability doesn’t seem feasible unless companies can put together a business case for the return on the investment.”
West Monroe, Loyola University Chicago and BearingPoint sought to better understand how North American companies are incorporating sustainable business practices into their operations. To further the analysis, the North American survey’s results were compared against a survey conducted by West Monroe’s global alliance partner, BearingPoint. In Europe, 59 percent of companies surveyed stated that developing a sustainable supply chain is already a strategic priority.
Similar to North American respondents, European supply chain executives also cite brand image improvement as the most important motivator. Innovation was far less important in European respondents than in North American respondents (36 percent versus 47 percent). Dissimilar to North American respondents, European supply chain executives placed the highest importance on the economic impacts of sustainability whereas North American executives prioritized environmental impact.
West Monroe joined the Loyola Supply and Value Chain Center, a group of supply chain professionals working to improve global supply chain management and sustainability, in June of 2014.
A copy of the full survey results can be found here.
West Monroe is a progressive business and technology consulting firm that partners with dynamic organizations to reimagine, build, and operate their businesses at peak performance. Our team of more than 600 professionals is comprised of an uncommon blend of business consultants and deep technologists. This unique combination of expertise enables us to design, develop, implement, and run strategic business and technology solutions that yield a dramatic commercial impact on our clients' profitability and performance. For more information, please visit www.westmonroe.com.
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of 9,700 people serves clients in more than 70 countries and engages with them for measurable results and long-lasting success. For more information, please visit: www.bearingpoint.com.
Founded in 1870, Loyola University Chicago is one of the nation’s largest Jesuit, Catholic universities, with more than 16,000 students. Nearly 11,000 undergraduates call Loyola home. The University has four campuses: three in the greater Chicago area and one in Rome, Italy, as well as course locations in Beijing, China; Saigon-Ho Chi Minh City, Vietnam; Vernon Hills, Illinois (Cuneo Mansion and Gardens); and a Retreat and Ecology Campus in Woodstock, Illinois. The University features 11 schools and colleges, including the Quinlan School of Business, Marcella Niehoff School of Nursing, Stritch School of Medicine, College of Arts and Sciences, School of Communication, School of Continuing and Professional Studies, School of Education, School of Law, School of Social Work, Graduate School, and Arrupe College of Loyola University Chicago. Ranked a top 100 national university by U.S. News & World Report, Loyola is also among a select group of universities recognized for community service and engagement by prestigious national organizations like the Carnegie Foundation and the Corporation for National and Community Service. To learn more about Loyola, visit LUC.edu, “like” us at Facebook.com/LoyolaChicago, or follow us on Twitter via @LoyolaChicago or @LoyolaNewsroom.