August 10, 2016 | By isosteam |
UPCOMING WEBINARS: Intro to TSC Product Sustainability Toolkit
The Sustainability Consortium is dedicated to improving sustainability of consumer products across the globe. They have created product sustainability toolkits to help in this process. So now you may be wondering what exactly are these toolkits, how do they work and who they benefit. ISOS Group is prepared to break it all down for you.
What are TSC Product Sustainability Toolkits?
These are interactive surveys that highlight the environmental and social issues that producers should focus on when working to improve the sustainability of their products. The toolkits are scientifically crafted with input from stakeholders. Fifteen key performance indicators (KPIs) are identified and used to track and measure product performance across all levels of the supply chain. The results of the survey produce a type of supplier scorecard. This scorecard helps both buyers and suppliers understand key issues and opportunities in their businesses. A company’s fifteen KPIs vary depending on product category. Currently there are 220 consumer product categories. For example, a company producing diapers in the United States will look at a different set of KPIs than a pencil manufacturer based in Guatemala because the resources and individuals that it takes to produce the products and get them to market are extremely different.
Why use TSC Toolkits? What are the benefits?
- TSC Toolkits are a simple way to prioritize a company’s impact and drive decision-making about how to most effectively improve a company’s environmental and social footprint.
- They create a positive impact on people and the environment.
- Value is added from network building. TSC Toolkits engage actors throughout the supply chain, which allows more ideas to be exchanged and brings voices to the table that may otherwise not be heard.
- The Toolkits drive business innovation, which leads to business growth.
- More and more customers are demanding information on where and how their products are made. TSC Toolkits show company transparency, which leads to higher consumer satisfaction, trust and loyalty. These three things ultimately lead to increased revenue.
- Evaluating the supply chain requires a lot of data. TSC Toolkits save lots of time as they focus on the appropriate data to review.
- Identify issues before they become issues. Toolkits help organizations recognize problems and alleviate them before they are too big to control.
- TSC members collaborate and work together for the common good.
- Major corporations, like Walmart and Sam’s Club, are starting to require all suppliers to monitor, manage and report on their social and environmental impact. (Wow – let’s talk about that!)
TSC, Walmart, and other Retailers
Walmart the ‘Walmart Sustainability Index,’ which is based on the TSC Toolkit to survey its suppliers and analyze data to determine supply chain performance and formulate solutions for improvement. Every year, all of Walmart’s suppliers must report the results of their TSC Toolkit survey. Other major corporations are starting to adopt this model too and the pressure to comply is only getting stronger as this is no longer a ‘nice thing to do’, but a business imperative.
So I’m interested. Now what? What is involved?
The Toolkits are available to TSC Members and can also be purchased through the Walton College TSC Marketplace. Once you have your toolkit follow these steps:
- Define the product category
- Review relevant scientific sources
- Research your hotspots
- Discover research improvement opportunities
- Evaluate the evidence
- Design key performance indicators
- Hold a multi-stakeholder review
- Publish your Toolkit
- Update and revise your Toolkit
ISOS Group will be leading free webinars on the TSC Product Sustainability Toolkit:
|U.S., E.U., LATAM, Africa (Walmart)||Sept 9 / 7:00 AM (PST)|
|Asia (Walmart)||Sept 9 / 5:00 PM (PST)|
|U.S. (Other Retailers)||Sept 30 / 7:00 AM (PST)|