Increased Profitability Through Digital Sustainability

THE GOOD NEWS

Digital technologies can now ensure that both your operational and supply chain divisions increase overall sustainability while ensuring profitability.

 MONEY VERSUS PLANET EARTH

Is it possible for a business to be sustainable and profitable? I have heard many CEOs point out that these values are often in direct opposition.

THIS IS ACCOMPLISHED BY:

• Defining science-based goals that are in line with social commitments and environmental sustainability.
• Increasing your company's offer of "green products" by applying sustainability considerations to all stages of the product’s life cycle.
• Analysing and tracking your Carbon Footprint over the breadth of operations, including energy, raw inputs, and all aspects of production and distribution.

BUT ARE THEY?

One of the challenges is that the definition of sustainability seems to be growing broader and deeper every year. Most companies view this development with dread, as it means new personnel that will demand changes in the ways companies work, often increasing production costs. Sustainability has also made its way into procurement, where companies now have teams researching products instead of using the cheapest one that will work! I have always maintained that digital technologies will soon be in a position to provide some relief. Not just in terms of reducing overall costs but even creating unbiased and objective decisions.

PURSUING PROFIT THROUGH SUSTAINABILITY

One of the most important changes needed is that of mindset. The adversarial relationship many of us have toward disruptions to our normal way of doing business is a big obstacle, particularly if that obstacle is viewed as additional complexity that will decrease profit.

EFFICIENCY = SUSTAINABILITY

Another important insight is that often, efficiency and sustainability have a huge overlap. Doing more with less is within itself a sustainability objective. Increasing the efficiency of your mine will have huge environmental, profit, and sustainability spinoffs. You cannot accomplish this with traditional methods of operation unless you increase manpower substantially. Meaning that you bring more smart people in to try and solve the problem. Digital technologies, IIoT, AI, machine learning, digital twins, APM, predictive maintenance. These technological solutions produce quick and actionable insights, faster and more accurately than any other traditional methods.

PEOPLE & PLANT, PLANET, PROFIT
Sustainability programs need to address the following:

• PLANET
  Paying consideration to our environment. What we take from it. What we release back into it. Limit waste through inefficient production.
• PEOPLE & PLANT
  Digital solutions for greater: Safety. Welfare. Fairtrade. Growth.
• PROFIT
  We need to stay realistic about profit. Whatever investors say, they will not pump money down the drain. But they will also not fund inconsiderate, unethical, and environmentally degrading practices.

Carbon neutrality is essential. But so are other forms of pollution. It helps little if you keep your side clean without caring about upstream or downstream processes that your raw materials or products undergo.

DIGITAL IS THE KEY

4Sight’s Operational Technologies division prides itself on being at the forefront of digital technologies for the industry. We are excited about the growth currently experienced in our field due to companies realising that you cannot go green without going digital first. Current technologies are saving companies considerable amounts of money.

What is even more exciting is the evolutionary trajectory of digital technologies. Companies who were serious about going digital, are set to reap the increased benefit as they can apply AI and Machine learning to current and historical data, without having to invest in new IIoT and data-gathering technologies. As our technologies are slowly migrating into the metaverse, the future of sustainability seems secured. Companies will soon be able to rely heavily on human-digital partnerships to open new frontiers in environmentally responsible profitability. Soothing investors while saving the plant.