7-2 Final Project

docx

School

Bossier Parish Community College *

*We aren’t endorsed by this school

Course

202

Subject

Management

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by patriciawood2017

1 1-3 Final Project Milestone 1: Company Case Study Selection 12/08/2023 James Scarborough QSO 328

2 The company that I have chosen to focus on is Walmart. Walmart is one of the top companies that comes to mind when it comes to sustainability. Walmart is my go-to store and my families favorite store to shop at. When doing some research on Walmart I learned that Walmart is in the process of making their company as sustainable as possible. The company is hoping to make all their stores, distribution centers, and their main headquarters 100% functional by only using renewable energy. They are hoping to have this phase fully completed by the year 2035. In 2020, Walmart had 59% of their packaging made from recyclable materials that was reuseable and industrially compostable. (corporate.walmart.com, 2022). This is also great for the environment and Walmart hopes to achieve zero emissions in their operations by 2040. Walmart hopes to not only engage their suppliers to go eco-friendly but also hopes to eliminate supply chain emissions by 1 billion metric tons by the year 2030. Walmart is taking those steps by starting a project called Project Gigaton. (Climate Change, Walmart.com, 2023). In 2020, Walmart started to become socially sustainable. The company started to donate food to those in need. They ended up donating 627 million pounds of food to the needy and the less fortunate. These donations were sent to nearby women shelters, homeless shelters, children group homes and local food banks in the community. Walmart also is maintaining sustainability by bringing more jobs into the community and offering their workers higher pay, bonus incentives, and programs to employees that further their education and skill sets. Walmart is about helping the community and giving back to those in need. Walmart is continuing to find ways to improve sustainability in their company and the community around them.

3 I. Overview Emerging technologies and best practices that affect environmental and social sustainability efforts of Walmart would be changes that are occurring to the surrounding energy grids, climate changes, and the changes in weather patterns that is requiring their facilities to have to constantly run their heating and cooling units more than usual. Another technology that affects environmental and social sustainability from Walmart’s end is their shift in their assets, supplier willingness to make changes, the type of refrigeration technology they use for their products, lack of laws being enforced per regulation guidelines not being followed, operating at capacity to implement new ideas to reduce emission projects for environmental awareness, and lastly innovation technologies in manufacturing and agriculture that would line up with the scientific community on how measurement approaches should be established and handled. (Walmart 2019 ESG Report, 2019). There are many challenges that Walmart faces environmentally and socially through their sustainability efforts and the complexity of their supply chains and how they are incorporated into the manufacturing, agriculture, and production aspect of supply chains. Some challenges that Walmart can point out that affecting their sustainability and triple bottom line is pricing, availability of products, financial tradeoffs, costs and capital gains, revenue, and supplier willingness to meet sustainable practices that are environmentally efficient. All these challenges not only affect Walmart’s sustainability but also affects their TBL (Triple Bottom Line). (Walmart 2019 ESG Report, 2019). When it comes to assessing Walmart’s collaboration with its suppliers and customers, I believe this collaboration improves its environmental sustainability across the entire supply chain because they are working together to improvise new ways of doing things. They are collecting

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

4 new data from their drivers across the supply chain to see how much waste is being dumped, they are instilling new policies to the public to help minimize waste and ways of prevention, Walmart has added local recycling and waste containers into their stores, they also made changes to their packaging materials while making sure they stay on top of the surrounding market costs for demand, supply and costs to operate recycled management / waste management operations. Walmart also is incorporating different packaging solutions across all their facilities in their markets. (Walmart ESG Report, 2019). Walmart also incorporated inventory management technology software known as Trade Gecko to help stay on top of shipping and to cut back on wastes. This software uses cross docking at the warehouses to move inventory from the arriving or leaving trucks. The inventory is then moved from these trucks and packed into another truck that will transport these products to designated stores so that they aren’t sitting in a warehouse and racking up storage costs. Walmart is known to have 160 distribution centers that uses local logistics company to make sure the distribution centers are running smoothly when it comes to transportation of products. The metrics that Walmart is using to assess how well it is meeting its environmental and social impact goals by using 8 waste lean manufacturing processing systems to limit waste products and to make sure their service process is running smoothly. Lean Waste Manufacturing is known in lean methodology to eliminate unnecessary waste within that operation. Lean Waste manufacturing can be used during labor routines, help cut down waste costs, material costs, and shave off time of shipping. However, there is some downside to LWM which is costs, time, money, unhappy customers, lack of resources available. The second processing system that Walmart uses is Excess processing which isn’t meeting its environmental and social goals

5 because it is a poorly designed process that isn’t doing too well on getting rid of excess goods fast enough. The third WLM processing system is Process mapping which is known as an effective tool to eliminate waste and optimize workflow that can help eliminate over processing of products. The fourth WLM processing system Walmart is having trouble with is known as Overproduction which occurs when products are being produced before they are needed. The fifth element of WLM processing system that is affecting Walmart’s sustainability and impacting environmental and social goals is Turnaround time/ Waiting. Customers are having to wait much longer on their products, equipment is taking much longer repair wise, excess change over time, shipping slowed down due to climate and weather conditions. The fifth WLM that Walmart is facing trouble with is Inventory. Too much inventory sitting in warehouses is also known as waste because of the holding cost it is causing them for storage. The sixth WLM that Walmart needs to improve environmentally is Transportation. Older transportation vehicles that need serviced more often is causing not only more costs, more wastes in the environment due to more O2 being released into the air, but it’s also causing more down time maintenance which is affecting shipping. The seventh and eighth WLM that Walmart needs to improve on to meet environmental and social needs on their behalf would be Motion implantation which is costing them money from raw materials, staff, and equipment maintenance charges but also non-utilized talent in the workplace that is going to waste with a higher employment turnover rate. (SKHMOT,2017). Walmart methods that they use different from other companies and the way their supply chains operate. However, Walmart is finding different ways to refine their methods of operations, purchasing, integration, and distribution when it comes to their supply chains. We know that for

6 supply chains to have successful operations they need purchasing managers to find their vendors, pick which products need to sell, and set up deals for those products. The operations aspect of supply chains put all their attention into planning, forecasting, and inventory managing. Forecasting helps supply chains focus on sales and promotions, changes in competition in the market and change in trends. Demand planning helps supply chains accrue correct forecasts to help them with inventory management. Distribution comes into play for supply chains when it comes to moving the products from warehouses to stores then to its customers. Integration in the supply chain operation makes sure all this flows smoothly to maximize efficiency whole maintaining costs. By Walmart using these SCM methods they can lower their product costs, have better selection of products that meets consumer needs, and be able to offer lower price to customers. (Robinson, 2020). Sustainability Plan Emerging technologies and best practices that affect environmental and social sustainability efforts of Walmart would be changes that are occurring to the surrounding energy grids, climate changes, and the changes in weather patterns that is requiring their facilities to have to constantly run their heating and cooling units more than usual. Another technology that affects environmental and social sustainability from Walmart’s end is their shift in their assets, supplier willingness to make changes, the type of refrigeration technology they use for their products, lack of laws being enforced per regulation guidelines not being followed, operating at capacity to implement new ideas to reduce emission projects for environmental awareness, and lastly innovation technologies in manufacturing and agriculture that would line up with the scientific community on how measurement approaches should be established and handled. (Walmart 2019 ESG Report, 2019).

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

7 There are many challenges that Walmart faces environmentally and socially through their sustainability efforts and the complexity of their supply chains and how they are incorporated into the manufacturing, agriculture, and production aspect of supply chains. Some challenges that Walmart can point out that affecting their sustainability and triple bottom line is pricing, availability of products, financial tradeoffs, costs and capital gains, revenue, and supplier willingness to meet sustainable practices that are environmentally efficient. All these challenges not only affect Walmart’s sustainability but also affects their TBL (Triple Bottom Line). (Walmart 2019 ESG Report, 2019). Taking into consideration all three aspects such as social, environmental, and financial as an everyday operation management process it makes sure that production is not only safe for the environment but beneficial financially and socially. Some factors that could hinder XYZ’s pursuit of environmental and social sustainability would be climate factors, threats of harm, business stability financially, or the sale of one’s supply company. Walmart’s collaboration with its suppliers and customers, improves its environmental sustainability across the entire supply chain because they are working together to improvise new ways of doing things. They are collecting new data from their drivers across the supply chain to see how much waste is being dumped, they are instilling new policies to the public to help minimize waste and ways of prevention, Walmart has added local recycling and waste containers into their stores, they also made changes to their packaging materials while making sure they stay on top of the surrounding market costs for demand, supply and costs to operate recycled management / waste management operations. Walmart uses their buying power to not only keep their suppliers in check but to make sure costs stay down as well. Walmart uses three supply chain elements which are distribution practices, operation of trucks for those distributions, and

8 updated technology in their centers. Sense using these three elements Walmart can improve environmental and social sustainability across the entire supply chain by cutting out unnecessary time, better and more cost friendly inventory management, along with better forecasting of products that will be utilized in the future for a profitable gain. Walmart’s efforts to collaborate with suppliers for their effectiveness in reducing XYZ’s environmental and social impact by making sure their customers have access to affordable and fresh food along with affordable products, giving back to the community by donating a certain percent to charities, employing workers with criminal histories, all while helping suppliers grow their business and become successful by purchasing their products. Walmart is also takin steps to reduce environmental and social impact with their suppliers by collecting new data from their drivers across the supply chain to see how much waste is being dumped, they are instilling new policies to the public to help minimize waste and ways of prevention, Walmart has added local recycling and waste containers into their stores, they also made changes to their packaging materials while making sure they stay on top of the surrounding market costs for demand, supply and costs to operate recycled management / waste management operations. Walmart is also able to cut down on costs for storage for their inventory, cut down on costs from transportation of their trucks, and cut down shipping time of products between transit. Walmart also makes sure that each driver is held to the highest standard by meeting qualifications such as “Three years driving experience and 250,000 on the road mile experience along with no accidents or moving violations in the past three years”. (Robinson, Adam .2020). Walmart can collaborate with its customers to improve environmental and social sustainability across the entire supply chain by making work easier on its employees to cut down on overhead labor and fuel costs. If the workers must slow down production because of having to

9 use more physical labor, then it will cause distribution to slow down and cause overhead labor and shipping costs to increase. Walmart also offers their employees great benefits such as paying for their college for their hourly employees, Vacation pays, savings and 401 k matching, health benefits and bonus incentives. In return, this makes the employees want to work harder and achieve sustainability to cut the companies costs wherever they have the opportunity too. Walmart’s efforts to collaborate with customers for their effectiveness in reducing XYZ’s environmental and social impact by conserving energy wherever its possible. Walmart has set high goals for their company for the future. These goals are to eventually be able to achieve 100 % renewable energy with their products. They also work with the customers to recycle more and eventually want to be able to eliminate all waste. Walmart also is working to bring more sustainability to the customers and our planet through eco-friendly supply chains. Walmart’s goals are to conserve, renew, and replenish what the customers are losing while making sure the plant is free of operations that pollute the environment and wastes that are being dumped by these supply chains. Everyone coming together rather it be the customers, suppliers, Employees, and the community we can all work together to transform the supply chains that are being use into ecofriendly safe operations. Everyone must do their part to make this operation a successful operation. Some metrics that Walmart uses to assess how well their manufacturing company is meeting its environmental and social impact goals would consist of a system they use known as the ISO 14000. This system takes inputs and turns them into outputs. It’s known as a monitoring system and a control system of aspects that can turn any input into a sustainable process that is heavily regulated by the government. Walmart is known to have a corporate social responsibility when using these metrics to environmentally protect and preserve these metrics without using it

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

10 faster that natures life cycle would process it. Walmart is known to preserve wildlife and nature. While Walmart consults with third parties to make sure climate change would not potentially impact their retail stores, they also used those tools to better understand how climate change works. Walmart also uses metrics to reduce greenhouse gas emissions. Sense 2015, Walmart has a 6.1 % decrease in annual greenhouse emissions. Walmart launched project in 2017 known as Project Gigaton. This project worked closely with other suppliers to avoid 93 million tons of emissions being released over the course of the last two years, which is a great start. Project Gigaton lets suppliers join the cause with Walmart to cut down on harmful emissions into the environment by trying to reach a goal of 1 billion metric tons of emissions by 2030. Walmart also set a goal of being supplied by 50% of renewable energy by 2025. In 2018, Walmart’s in the U.S diverted 81% of their unused, unsold products, wastes, packaging, and other materials from landfills. Instead, they chose to recycle most of it and managed to get rid of 430 million pounds of plastics just through recycling. The metrics that Walmart is using is meeting its environmental and social impact goals by using processing systems to limit waste products and to make sure their service process is running smoothly. By using these metrics, Walmart can eliminate unnecessary waste within that operation. These metrics can be used during labor routines, help cut down waste costs, material costs, and shave off time of shipping as well while maintain sustainability environmentally. I. Impact on Financial Sustainability The financial, social, and environmental plans at Walmart Supercenter come together to represent the best practices of sustainability by making sure they have a social sustainability plan that is successful as well as an environmental sustainability plan that is financially beneficial for everyone and safe for the environment. There are many different factors that could hinder

11 Walmart from being successful in the future and hurt their overall financial ability to make a profit. The overall management of the Walmart’s must make sure they are taking into consideration the appropriate standards for the company as well as making sure those standards are enforced and benefiting their turnover profits. Walmart also must establish an alternative plan as back up to oversee these changes and establishing steps to ensure these meet regulation standards as well as ways to exceed these new changes to make sure they are financially, socially, and environmentally best for their company and suppliers. When it comes to creating a sustainability plan, Walmart takes into consideration their employees and their inputs. Their current knowledge and skills in the workplace are very beneficial to establishing a sustainability plan that will be overall successful in the long run. Involving employees in the creation of their sustainability plans makes the employees feel included and listened too. They feel like they had a helping hand in establishing a long-term plan. Employees can help Walmart establish a sustainability plan as well as oversee where different strategies of production are no longer working. They will also be able to establish a plan to include more sustainable products for future use even if it delays shipping time and causing financial difficulty, they would be able to catch this problem sooner than later and create a plan to be able to avoid this issue in the future. (Grant, Trautrims & Wong, 2017). When it comes to financial sustainability, Walmart will require a capital investment for the environmental and social sustainability plan. This will end up hindering the production routine they currently have in place and slow down overall production which means the financial sustainability won’t turn over a positive profit. Walmart can make utilize this sustainability plan and make up for their downfalls by lowering their employee turnover rate and offering more

12 incentives for their employees to stay with their company and strategize this plan as a future marketing tool for their company. Implications of Emerging Technology The implications of emerging technology or best practices for environmental and social sustainability on the financial bottom line of Walmart is overall beneficial when it comes to Walmart using innovation to focus on the environmental sustainability practices and objectives to achieve the overall main objectives that this company is set out to achieve. By developing new and improved techniques and strategies, Walmart company would be able to lay out and track its sustainability plan to make sure it’s on track and producing a profit as well as introducing new technology techniques. Walmart company would be effective by using this method because they would overall exceed all EPA and regulatory standards which in the long run would incorporate social sustainability objectives into the plan as well. Walmart’s objective would be to make sure they maintain and attract new suppliers while establishing trust into their communities. Employees and customers would then feel more appreciated to shop and work at a company that not only gives back to the environment but meets their needs as well without harming the natural resources in the environment and price gouging their products to make a profit. IV. Integration The financial, social, and environmental plans at Walmart company come together to represent the best practices of sustainability by simply focusing on what would be best overall for their company. The financial, social, and environmental plan combines and prioritizes their triple bottom line theory. This theory outlines what Walmart company needs to understand when it comes to their profits and how it’s a significant key part of conducting and running their

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

13 business as well as maintaining overall long-term success with the help of its three P’s: People, Planet, Profit. Walmart company can balance and remove conflict among all three aspects of the triple bottom line and ensure that their plans for environmental sustainability do not negatively impact their plans for financial and social sustainability by making sure their overall management foresees all issues and solves those issues before they expand and cause more harm than good financially. When applying a sustainability plan, there will be some financial kinks that need to be worked out however, these kinks need to be monitored and avoided for long term success and how these issues can benefit the company long term financially without causing more conflict to their triple bottom line. Some key milestones that XYZ Company would need to meet to achieve the same level of environmental, social, and financial sustainability as Walmart company based on the timeline that it took Walmart company to achieve its current level of sustainability pertaining to my current knowledge of the triple bottom line would require more milestones to be met to even keep up with Walmart company. XYZ company would need to step up their and exceed all EPA regulatory standards as well as lowering their carbon rate that is produced into the environment by 50 % in the next twenty or so years. (Eizenberg & Jabareen, 2017). They would also have to recruit better talent to decrease their turnover rate. They could do this by releasing surveys to their workers to see where they stand. All these key milestones would need to be implemented for XYZ company to meet and achieve the same level of environmental, social, and financial sustainability as Walmart Company.

14 Conclusion In Conclusion, XYZ should go back over their plans and adjust each area accordingly. The TBL, environmental, financial, and social aspects should align with the overall affects / risks it could put the company through. It needs to be weighed if the financial affect risk is too great of a risk to take versus the long term overall affect of productivity. I think it would be beneficial for XYZ to implement the sustainability ideas because clients would then see how XYZ is working to not only benefit their TBL but also become more economically sustainable.

15 Resources: Corporate Walmart- Retrieved on October 28 th , 2023, from Sustainability. (n.d.). https://corporate.walmart.com/purpose/sustainability Eizenberg, E., & Jabareen, Y. (2017). Social Sustainability: A new conceptual framework. Sustainability, 9(1), 68. Fernado. J, & Scott. G (2021). Corporate Social Responsibility (CSR). https://www.investopedia.com/terms/c/corp-social-responsibility.asp Grant, D.B., Trautrims, A., & Wong, C.Y. (2017). Sustainable logistics and supply chain management: Principles and practices for sustainable operations and management. Kogan Page Publishers. Nawras, Skhmot. (2017). The 8 Wastes of Lean Management. Retrieved on November 4 th , 2023, from https://www.theleanway.net/The-8-Wastes-of-Lean . Robinson, Adam (2020). Retrieved on November 4 th , 2023, from https://www.cerasis.com/supply-chain-management . Sustainable Operations Management. (SOM 2016). https://www.opentextbooks.org/hk/ditatopic/27197/ Walmart, (2019). Environmental, Social, and Governance Report. Retrieved on November 4 th , 2023, from https://www.corporate.walmart.com/media-library/document/2019-environemental- social-governance-report .

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

7-2 Final Project

Related Documents