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34 PalletCentral • January-February 2022 palletcentral.com What is Supply Chain By Glenn Meeks S upply chain sustainability is the comprehensive view and management of supply chain components, processes, and technologies deployed in business operations that have a direct or indirect impact on the environment, society, and economy. It includes endorsing good governance ethics throughout the lifecycle of products and services. Supply chain sustainability involves a business reflecting on the environmental and human impact of their production lifecycle from raw materials sourcing to production, storage, delivery, and all modes of transportation utilized. e goal is to reduce environmental damage from component processes like energy consumption, water consumption, and waste production whilst significantly improving the lives of participants in the operating supply chain. Another important goal is to establish, protect, and develop a long-term social, environmental, and economic value for stakeholders, partner companies, government, and customers when bringing goods and services to market. To properly explore this subject, we need to define key terms: Supply chain: A supply chain is a collection of systems and processes that transform raw material into finished goods. Within this collection of systems and processes, there are multiple tiers of production and/or manufacturing, facilities in use for these operations, transportation across the spectrum of the operations, and all of the human capital involved in the movement of any product/service from beginning of the cycle all the way to the customer. Supply chain management: e act of coordinating raw material sourcing, production, distribution, and inventory among participants in the supply chain. It aims to maximize profit and gain a competitive advantage in the market by streamlining the commercial supply-side activities and operating iStockphoto.com/RamCreativ Here's what you need to know.