Sustainability is in the spotlight for the retail industry. However, while 90% of executives think sustainability is important, only 60% of companies have a sustainability strategy. In a time when environmental responsibility is a top consumer demand, and the worst impacts of climate change are expected to be irreversible as soon as 2030, all retailers should have tangible sustainability goals. In a recent article for RIS (Retail Info Systems), our president, Jay Fiske, discussed how companies can automate sustainable business practices and reduce expenses using the Internet of Things (IoT). Since energy is one of the highest controllable costs for retailers, using connected equipment not only helps protect the environment but can also increase profits.
According to the National Retail Federation (NRF), its 2022 installment of Retail’s Big Show reflected the growing influence of sustainability. Sustainability is top of mind for CEOs, but becoming more environmentally friendly requires careful planning and strategy. In a previous blog, 4 Ways Connected Equipment Makes a Business More Sustainable, we discussed why sustainability is more than providing recyclable bags or going paperless. Sustainability needs to be part of a larger strategy that includes environmental considerations across the entire supply chain and all business operations. Here are two key areas where sustainability goals, combined with the right solution can lead to big results.
Goal: Significantly reduce energy consumption and costs.
Solution: Use equipment that is connected, analyzed, and controlled using IoT. Connected equipment reduces operating costs, ensures system uptime and product quality, and cuts energy and maintenance expenses.
Results: Emissions from power plants are reduced with less energy consumption, which conserves the Earth’s natural resources and protects ecosystems. Less money is spent on energy bills with solutions like Open Kitchen and SiteSage, which reduce energy consumption by as much as 20%, sometimes more.
Goal: To prevent capital equipment from ending up in landfills in order to protect the environment from harmful chemicals and metals.
Solution: Use connected equipment to keep assets running at peak performance. When a business is able to shift from reactive to proactive servicing, equipment lasts longer, can be repaired, and doesn’t run to failure.
Results: Money savings with proactive equipment repairs instead of untimely and expensive replacement.
Being environmentally responsible not only has a positive impact on the Earth, but also on an organization’s bottom line. For retailers, a relatively easy way to reduce their carbon footprint is through reduced energy consumption. Using connected equipment is a big first step in developing more environmentally conscious business practices.
Find out how a connected facility can help your business meet sustainability goals and improve operational efficiency. Chat with one of our experts today.