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Chain configurations , allowing them to make science-based decisions to reduce packaging emissions and wasted materials .
The model is widening the lens beyond the simplistic parameters of most Life Cycle Assessments , which only look at greenhouse gas emissions . There are many other factors to consider , and sometimes higher emissions can in fact be better for the environment overall , when considered as part of the wider picture .
Our model incorporates microplastic generation , acidification , eutrophication and many other parameters , to empower retailers to have packaging data at their fingertips that is compliant with Extended Producer Responsibility requirements and to an ISO approved standard . The project is initially aimed at fashion retailers , but we hope to create a tool that can be adopted by other businesses in the wider market .
Inventory management
Inventory management is another area which can be revolutionized through technology : particularly via automation , which has become essential . The rapid growth of ecommerce has led to an increasing amount of data available in inventory management , and supply chains are becoming more interconnected and complex . Consumption rates and supply are also far more volatile , with millions of customers able to purchase products on large scale ecommerce websites at a single point in time .
As such , manual inventory management is no longer effective , or even realistically possible – there is simply too much data . But automation allows retailers to gather and analyze large volumes of data , and make informed decisions to better manage their stock , whether that ’ s by responding to market fluctuations or adapting to customer needs . Generative AI ( GenAI ) and ML tools are likely to have a significant impact in this space . There are an increasing number of points at which data can be collected , but AI and ML can process this data into something useful to decision makers . Developments in this tech allow for more accurate forecasting , leading to better informed business decisions .
GenAI also enables leaders to identify trends and correlations when managing stock . For example , if certain weather conditions led to increased sales of a particular product . This allows warehouses to better manage their stock or prepare for large swathes of purchases .
Digital twinning is another technology with the potential to revolutionize supply chain management , allowing businesses to digitally replicate entire systems and run experiments to identify sustainability and efficiency improvements without needing to make physical changes . This coupled with AI powered forecasting , can help us to better predict and absorb volatility as well as run supply chains in an overall more efficient manner .
Industries reliant on supply chains will always involve some degree of unpredictability but an increasing number of technological innovations are reducing the impact of this volatility - allowing businesses to work more efficiently and sustainably … watch this space ! ■
For a list of the sources used in this article , please contact the editor .
Josh Pitman www . priorydirect . co . uk
Josh Pitman is MD of sustainable packaging firm Priory Direct , which supplies sustainable packaging to over 21,000 businesses . It helps large retailers reduce their carbon footprint by tackling supply chain and operational challenges , helping to lower the environmental impact of ecommerce . It also provides affordable , sustainable packaging materials to thousands of small businesses , with 2,000 products ranging from cardboard boxes to mailing bags .
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