Sustainable sourcing is essential for businesses committed to environmental and social responsibility, but achieving it requires accurate and reliable data. Master Data Management (MDM) ensures that all sourcing data—such as supplier information, certifications, and compliance records—is consistent and up-to-date. This enables organisations to make informed decisions that align with their sustainability goals, reduce waste, and promote ethical practices throughout their supply chain.
MDM is the foundation of a successful sustainability strategy. By providing a single source of truth for all critical data, MDM helps businesses monitor and track their sustainability efforts effectively. With accurate data, companies can identify opportunities to improve resource efficiency, reduce carbon footprints, and ensure compliance with environmental standards, ultimately leading to a more sustainable and resilient business model.
In this episode, George Firican, Founder of LightsOnData, speaks to Matthew Cawsey, Director of Product Marketing and Solution Strategy, and Paarijat Bose, Customer Success Manager at Stibo Systems, to discuss sustainable sourcing and why accurate data matters.
Key Takeaways:
- Sustainable sourcing involves understanding the provenance and environmental impact of products, ensuring compliance with regulations, and meeting sustainability goals.
- Data completeness and accuracy are crucial in meeting regulatory requirements and avoiding issues like greenwashing.
- Managing sustainability data requires a solid foundation of MDM to ensure data accuracy, stewardship, and semantic consistency.
- MDM solutions help companies collect, manage, and share sustainability data, enabling them to meet compliance requirements and achieve their sustainability goals.
Chapters:
00:00 - Introduction and Overview
01:07 - The Challenge of Collecting Data for Compliance and Reporting
02:31 - Data Accuracy and Completeness in the Supply Chain
05:23 - Regulations and the Demand for Transparent and Complete Data
08:41 - The Role of Master Data Management in Sustainability
15:51 - How Data Management Technology Solutions Help Achieve Sustainability Goals
21:02 - The Need to Start Early and Engage with Data Management Solutions
22:01 - Conclusion and Call to Action
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