Developing Sustainable Supply Chain for Biotechnological Products

Lars Kristensen
University of Buenos Aires, Argentina

DOI:https://doi.org/10.5912/jcb2498

Abstract:

Sustainable supply chains of biotechnological products are needed for balancing between environmental responsibility, economic viability, and operational efficiency. Companies must adopt sustainable practices, since the demand for the bio-based pharmaceuticals, agricultural bio inputs and biofuels which are growing, minimizes their ecological footprint. It consists of performing green procurement strategies, optimizing the transportation network, use of energy efficient production methods, as well as implementation of circular economy principles: waste reduction and recycling. To ensure successful sustainability initiatives, collaboration amongst key stakeholders such as suppliers, manufacturers, policymakers and consumers is very important. Additionally, supply chain transparency and improvement of efficiency is enhanced via the advent of emerging digital technologies like blockchain for traceability and artificial intelligence for demand forecasting. If these sustainable strategies are adopted by businesses, they will be able to achieve regulatory compliance, contribute to corporate social responsibility, and achieve a competitive edge in the biotechnology sector. In this study, amongst the challenges and opportunities of developing sustainable biotechnological supply chains, it explores worthwhile innovative solutions for sustainable long term environmental and economic benefits.