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  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
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  • Number of pages: 2

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INTRODUCTION

Conspicuous increasing of globalization, keen competition in business world, gigantic technological development and economic growth has turned the total scenario of the current world than a decade past. Nowadays, the present era experiencing of today's technology tomorrow's obsolete. Every day, new design, fashion, thought, even political concept and life style is being transmuted in an increasing fashion. Data analytics and artificial intelligence has been enhancing daily business prediction, demand forecasting, data collection as well as business designing.

Attentive attention and interest are being enticed by supply chain management researchers on green supply chain management, environmental issues, and resource re-usage as well as information technology application.

Nowadays, E-waste is the fastest and largest increasing waste stream in this earth. It is detrimental and hazardous, intricate and expensive to treat in skilled professional manner as demanded by the standard environmentally handling process, and there is a general lack of legislation. If even there is some glint of favorable legislation somewhere but there is seldom enforcement rather reluctant and corrupt culture. Taking into account the the significance of contemporary meteoric globalization having with the advancements of technological innovation, neoteric manufacturing industries and organizations have no other choice but to adopt GSCM considering numerous factors as legal and ethical bindings such as compliance to several environmental legislation and regulation, work innovation, brand reputation, sustainability, cost reduction, climate change, reduction of greenhouse gas emissions, solid waste reduction, water conservation, global warming, and reduction of pollutions of water, noise, air etc.

Despite of intrinsic necessity of GSCM practices, many entrepreneur whines about problematic in application due to higher investment cost, communication, technology, response time, lack of professional expertise for solving the materialized issues relating to the environment. GSCM practices comprises with green manufacturing, green marketing green purchasing, green design, reverse logistics, investment recovery, material management  that translate the elucidation of environmental thinking and it application, and the integration of supply chain management with end-user's end-of-life management.

It is still scarcely known or in less application or may be obscured in larger extent whereas GSCM is attenuating environmental hazard and inconveniency; and gaining economic benefit and sustainability to organizations. The meteorically technological development associated with economic growth has plunged the incredible huge amount of products around the world that has considerably raised the grave concern over fatal threat on global environment.

In the context of Bangladesh, due to incessant unplanned so called industrialization (in pragmatic sense it is loot and money launder in the guise of industrialization), urbanization having with second and discarded e-products from developed country while generating enormously excessive amount of waste facing an excruciating solid waste dilemma; as because lack of public awareness,  lack of pertinent sophisticated technology, severe lack of enforcement of legislation as well culture of corruption

Theoretical foundation of GSCM practice: Recently, as a matter of course, world's major manufacturers have developed and implemented more comprehensive supply chains to improve their environmental thinking and its practices through green supply chain. GSCM is an innovative and modernized tool to have environmental sustainability

The concept of Ecological Sophistication is the basis of GSCM practices and waste behavior and its management theory underpinned the practice of waste reduction. The neoteric theory has simultaneously induced both researchers and practitioners for policy making and technological innovation.  Thus, GSCM application is embedded by institutional theory. Although environmental innovations such as GSCM practice are built on both EMT and institutional theories, choice of innovations and GSCM practices enormously depend on types of organizations and ecological advancements within different circumstantial scenario.

Green Procurement (GP): Green procurement is a sort of environmental purchasing that includes recycling and reuse of materials in the method of procurement

GP is an important determinant element  that paving the way of specific design  to suppliers that functions for environmental thinking, environmental objectives and supplier internal management

The salient target of green procurement is to reduce waste from the business waste disposal handling with an extensive reduction in total cost during manufacturing process. The customer choice of preferences and demands has a direct influence on mobilizing green supply chain management as an environmentally managed environmental procurement

Green design (GD): Considering the environmental globalization, green design has been, indubitably, engaged extensively with neoteric products' design in manufacturing company.  

Within the facet of diverse mechanism GD involves large dimension of environmental risk management, waste management, pollution control, occupational health safeguard and water conservation. Design changes resulting from technological innovation can help to reduce recycling costs, waste processing and management. The integrated process of application can be a salient tool to quantify the environmental performances of new products.

Green Manufacturing (GM):Green manufacturing is considered as a sort of production process that applies its intensive engagement with significantly less environmental impacts, is much and more effective, that produces very little waste or pollution or even no pollution.  

Green manufacturing not only increases environmental efficiency rather it conspicuously meliorates the corporate reputation and image. Within the dimension of green operations meaning, green manufacturing plays a salient role. Recovery is a combination of remanufacturing, reuse, and recycles whereas remanufacturing is a recycling–integrated manufacturing.  

GSCM , in reality, helps to diminish waste, reduce cost with profit  maximization and sustainable business. Various multinational companies are investing, nowadays, in several research designs during product development and manufacturing that are environmentally sustainable and economically profitable. GSCM is a neoteric issue for green operations. For instance, Walmart, NEC, IBM, Motorola, HP, Fujitsu, Sony, Toshiba, Dell and Panasonic have adopted GSCM practices in their reverse logistics. Taking into account the significance of GSCM, it is highly presumed, most of the leading manufacturing companies and organizations will apply reverse logistics in all over Asia within the next couple of decades.

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