Hong Kong – The Hong Kong Chartered Governance Institute (Institute/HKCGI) published a joint report with Deloitte China titled 'Supply Chain Management – An Introduction & Applied Governance Perspectives'.
The report introduces broad concepts related to supply chain management to help the governance profession become more knowledgeable in this field, offer advice, and implement governance practices.
Mr David Simmonds FCG HKFCG, Institute President; and Chief Strategy, Sustainability and Governance Officer, CLP Holdings Limited, says, “Supply chain management is an increasingly important aspect of sustainability governance. Regulatory requirements are growing along with the attention of investors, customers and other stakeholders. From a strategic standpoint, companies should be able to demonstrate operational resilience through effective knowledge and management of supply chain risks. In light of this, it is crucial that people in charge of supply chain management, including boards, senior management and governance professionals understand all material components of a supply chain rather than focusing only on issues that are currently topical.”
Mr Ernest Lee FCG HKFCG(PE), Institute Immediate Past President; and Technical partner, Deloitte China, says, “While many supply chain transformation initiatives have historically been reactive, today, a growing number are being driven by a proactive desire to outperform competitors. Despite the potential risks and challenges, supply chain transformation has the potential to deliver vast opportunities for sustainable value creation.”
“Building a sustainable and resilient supply chain bolsters a company's ability to weather volatility and enhances its capacity for growth and profitability. To initiate a successful sustainable supply chain transformation, businesses must adopt a holistic approach by evaluating their performance across all material ESG aspects within key value chain functions. While defining a sustainability vision, a comprehensive understanding of regulatory requirements, industry benchmarks and the expectations of customers and investors is also crucial.”
To view the press release in English version, please click HERE.
To view the press release in Chinese version, please click HERE.
To view the report, please click HERE.