In Part 1, we discussed the growth of Environmental, Social, and Governance (ESG) programs and how Minitab can help kickstart or advance your effort. In this blog, we’ll explore more specific ways in which Minitab can help.
How to Increase Your Commitment to Environmental Improvement Initiatives
When it comes to environmental initiatives, companies are often evaluated on the impact of a company’s operations on climate change and pollution, as well as how a company conserves scarce natural resources. Here are a couple of ways Minitab can help you advance these initiatives:
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Use Recycled Materials
By manufacturing products that can be reprinted or recycled or reusing recycled materials, your organization can contribute to a more sustainable future. Learn how Signify, the world leader in lighting technologies, used data-driven problem solving to switch to more eco-friendly materials and processing without sacrificing reliability of their products.
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Conserve Energy to Reduce Emissions
Reducing emissions can simply be a function of reducing energy usage – a win for the environment and a win for your bottom line. Read about 3 data-driven strategies for efficient energy conservation.
Watch our webinar on Minitab can help you reduce your energy costs and emissions.
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Reduce Waste
Minitab helps organizations reduce waste from different processes and can help reduce waste altogether. Read how Dupont evaluated 30 different waste streams and took action to eliminate 81 million pounds of waste, saving $400,000 and earning $2.2 million from sale of byproducts.
Reducing emissions can simply be a function of reducing energy usage – a win for the environment and a win for your bottom line. Read about 3 data-driven strategies for efficient energy conservation
How to Increase Your Commitment to Social Initiatives
When it comes to social factors, companies are often evaluated on how they manage and treat their workforce, the safety of their products and processes and their effort to promote diversity, equity and inclusion.
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Improve Satisfaction of Your Workforce
Understanding what makes your workforce feel treated fairly is a similar exercise to understanding what keeps your customers satisfied. By surveying your workforce and using predictive analytics like Classification and Regression Trees (also know as CART®) you can identify the key drivers of workers’ happiness.
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Decrease Turnover of Your Workforce
One of the most critical metrics of your workforce is unforced turnover. Not only does that reflect the happiness of your employees, but limited turnover enables sustainable growth. Learn how a major manufacturer used Minitab Statistical Software to help decrease employee turnover.
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Increase the Safety of Your Products & Processes
As the market leader in quality control and continuous improvement, Minitab has many solutions to improve the safety of products and processes. Minitab can help you make your product designs more reliable, improve the quality of product and has multiple tools to improve nearly any process you may have.
Learn how Real-Time SPC Can Dramatically Improve the Safety and Quality of Your Products.
How to Increase Your Commitment to Better Governance
When it comes to governance factors, companies are often evaluated on the “quality” of the board of directors, transparency of reporting financial and non-financial disclosures and management of the supply chain.
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Descriptive Statistics to Highlight Board Quality
Using basic and descriptive statistics can highlight the strength of your board in different ways. Perhaps your board is more diverse compared to your peers or if not, maybe the level of experience, on average, is much higher than your competition. Board members are presumably selected on certain strengths and using statistics to highlight those strengths, as compared to other companies, is a good way to demonstrate the quality of your board.
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Visualizations Can Equate to Better Transparency
The adage “a picture is worth a thousand words” is famous for a reason. Visualizations can be used to highlight everything from your board quality to non-financial disclosures. Want to know how many off-balance sheet items a company has? You are more likely to see and understand them in a prominent chart than in a footnote.
Not sure what graph to build? Use Minitab’s Graph Builder to explore your data and come up with the best visual that tells your story.
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Better Manage Supply Chain Risks
Supply Chains are complex and typically only gain visibility when things aren’t running smoothly. Proactively consistently work to strengthen and report on supply chain using tools like Value Stream maps that are easily understandable or analyze your data to monitor and improve key performance indicators like cycle time, inventory levels, deliver times and overall quality.
The Heart of ESG Improvements? Data-Driven Problem Solving
Regardless of whether you want to focus on environmental, social or governance factors – or all of them – data-driven problem solving will not only help you make improvements, but also, equally importantly, help you measure and demonstrate the improvements you’ve made to the outside world and the investment community.
Whether you’re just kicking off an ESG program, looking to make your company a little more sustainable, or trying to advance an established program, Minitab is here to help. Leverage our abundance of resources to learn from others or, if you still need help, ask us about consulting.
Together, we can make a significant impact on your organization and – just maybe – the world around us.
