
1. Map Out Your Plastic Footprint
Given that one of plastic's main charms is it cheapness, it follows that companies who rely heavily on plastics in their products or processes will face significant cost exposure if forced to substitute other materials, whether because substances are banned or because their use becomes a hot button for consumers (or because the price of plastic increases significantly).
An assessment of the usage of plastics and plastic derivatives in your company and throughout your supply chain will identify the areas of greatest usage (and potentially exposure) and is further likely to highlight opportunities for no-regrets actions to optimize material flows.
2. Identify Good Substitutes and Start Using Them Now
Exploring alternatives to the plastics you currently use is another no-regrets option. The investment required is typically quite low and the benefits can be huge: Having a clear understanding of the options and the pros and cons of each helps identify where further investigation and investment may be warranted and will set you up to make decisions around materials substitution quickly in the future...
3. Engage Your Supply Chain
Start a dialogue with your suppliers now about their use of plastic and the potential implications of a plastic phase-out. In particular, consider how plastic is used at the linkage points in the supply chain and convene the relevant players to explore options for alternatives that work well for all parties involved.
Some non-plastic solutions, such as reusable interim packaging or shipping containers, will require buy-in from and coordination with all suppliers involved at that stage in the process. Further, in some cases shared investment will either be required or will be beneficial in securing lower prices and better terms.
4. Think Systemically
Fundamentally changing the flow of materials in your operations is an enormous undertaking -- but the implications for the system of material flows as a whole is even more massive.
For many materials, their relative cost is not fixed, rather it is largely determined by the nature of their flow in the system (scale production, efficiency of processing and amount and type of by-products, end of life disposal options and costs, geographic factors and more).
As a result, it is imperative to consider the systemic context in which the material is currently produced, used and disposed of. Where barriers to potential solutions exist at the system level, firms should seize the opportunity to collaborate to overcome these hurdles and accelerate the development of solutions that benefit everyone.
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