Posted in Operations and Supply Chain Terms, Total Reads: 5810
Definition: Operational Sustainability
‘Operational sustainability’ is a method of evaluating whether a business can maintain existing practices without placing future potential resources at risk. Sustainability can refer to any one of a variety of areas, say ecological resources, social or economic resources.
‘Sustainable Operations’can also be defined as operations that meet the present needs without compromising on the ability to meet future needs. Sustainable supply chain management is a subset of sustainable development focused on the development and management of the supply chain. The aim is to create supply chains that perform well economically, socially, as well as environmentally.
Business sustainability is often defined as managing the triple bottom line - a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. Sustainable businesses are those businesses that can survive shocks because they are intimately connected to healthy economic, social and environmental systems. These businesses create economic value and contribute to healthy ecosystems and strong communities.