Analyzing information for actionable insights
To have a view of where an organization is today and where it wants to be, an organization must have a clear understanding of its data. Any sustainability journey depends entirely on data.
In a complex industry like FMCG, proliferating a data methodology from Scope 1 to Scope 2 and Scope 3 implies a multifold increase in data points. To put this in context, a big FMCG organization has 40-50 manufacturing sites and respective co-packers; 30-50 depots; and thousands of stock lists.
Generating data from many points is a rigorous task because the data must be accessible as well as granular. Various business processes and ERPs must be utilized in this direction.
While the overall progress is slow, organizations are at different maturity levels, mostly due to quality data being the differentiator between mature and less mature systems. Therefore, one must have high quality, decision-centric data available that can withstand scrutiny.
A steel company, for example, would measure profitability and course-correct if there is a change in, say, raw material costs. Some mature organizations may be in a position to look at CO2 numbers monthly, but can this data be broken down in such a way that an intervention is possible? Organizations should aim for that level of detail, which will need digital solutions. It would not be possible to intervene without a comprehensive IT platform that is geared toward ensuring that high quality and robust ESG and sustainability data is captured.
