Manufacturing companies face multiple challenges in their quest to address sustainability and net-zero goals, according to survey results from Fictiv and Dimensional Research.
Key sustainability challenges in the manufacturing sector involve lack of:
- Control over sustainability standards in their supply chain (mentioned by 54% of respondents);
- funding (mentioned by 36% of respondents); and
- knowledge to create a concrete sustainability plan (nearly 33%).
Still, sustainability in manufacturing is increasingly important to industry leaders, according to 87% of survey participants. Among the key areas of investment:
- 60% are investing in technology to drive operational efficiency;
- 55% say improving manufacturing and supply chain visibility is a top priority;
- Roughly 50% are prioritizing sustainable packaging, materials, and/or energy solutions; and
- 40% are increasing investment in sustainability data tracking and analytics.
Not by coincidence, Fictiv is eager to assist companies with their supply chains. The company specializes in custom manufacturing -- which helps customers to more efficiently source and manage custom-manufactured parts.
Fictiv, founded in 2013, is based in San Francisco. The company raised $100 million in Series E funding in May 2022. Activate Capital, which "supports entrepreneurs in pursuit of a sustainable future," led the round.