The word Sustainability should be rather easy to define and elaborate. However, we find most coverage of that word incomplete. Either it is taken to mean environmentally responsible or socially responsible or some aggregate of the two. However, in our view a Sustainable Supply Chain has to be able to sustain the business and vice-versa over a long term. In order to do that, it must be able to provide sustainability at several levels – global level, community level, supply chain level, and corporate level.
Security is the condition of an individual, a community, an organization, a societal institution, a state, and their assets (such as goods, infrastructure), to be protected against danger or threats such as criminal activity, terrorism or other deliberate or hostile acts, disasters (natural and man-made).
There was a time, not more than a few decades ago, when if you were General Motors you would attempt to own every part of your business. The assembly lines, the parts manufacturing plants, the stamping units, the ancillary units and even such parts of the business as the software that runs the business, the dealerships that sell the cars, the steel mills or even the mines that produce iron ore for the steel mills. And for good reason - you could not either trust others to savvy enough to produce and send you the material that you wanted when you wanted it, or the margins in each of those businesses were big enough for you to try and own all those operations.
New strategic approaches, when properly combined, allow managers to leverage their companies’ skills and resources well beyond levels.