According to the World Economic Forum, manufacturing supply chains are responsible for one-fifth of global carbon emissions and consuming 54% of the world’s energy sources. Trax Technologies, the global leader in Transportation Spend Management (TSM) solutions, is committed to raising awareness about the need for global manufacturers to reduce emissions within their supply chains.
Though collecting credible and usable data for emissions tracking is often difficult, the benefits of optimizing scope 3 emissions include environmental improvement, cost and waste reduction, climate reporting preparation, and stakeholder engagement.
“Manufacturers often witness immediate benefits of optimizing scope 3 emissions, including driving positive environmental impact, enhancing overall performance, and obtaining attention from potential investors, customers, and employees who prefer supporting businesses that are climate-friendly,” said Steve Beda, Executive Vice President of Customer Success, Trax. “Cleaning up a manufacturer’s supply chains often means reducing waste and streamlining processes, ultimately resulting in reduced costs.”
Climate-focused manufacturers understand that they must make different shipping decisions, including leveraging more energy-efficient methods of transporting materials when possible. For example planning for shipping that takes a bit longer to deliver materials, including maritime transportation, and barges in particular. These are some of the most fuel-efficient freight transportation methods available.
Trax, a freight audit and payment (FAP) provider leveraging $24B in transportation spend invoices the company audits annually, offers industry leaders data-driven tools like its Carbon Emissions Manager, in addition to expert advice on emissions reduction efforts. In providing industry leaders with data pertaining to emissions factors, travel distances, tank-to-wheel combustion of energy, wheel-to-wheel distribution of fuel, and insights into CO2 and other greenhouse gasses, Trax sheds light on emissions reduction methods for manufacturers.
“Trax efficiently gathers and analyzes reliable data from all aspects and suppliers within the manufacturing supply chain; each piece of minute data is needed to to establish benchmarking, reporting, and reduction processes” said Beda. “We consolidate cost and emissions data, and then we use it to assist global enterprises with supply chain data needed to integrate more environmentally friendly practices that benefit their operations, stakeholders, and climate.”
In Trax’s eBook, “Unlocking Environmental Sustainability in Supply Chains,” the company highlights sustainability trends and outlooks that serve as a reminder that following initial investments, innovative sustainable ventures are multifaceted – positively impacting the environment and business revenue.