Nike has long been committed to developing products and business models that contribute to a more sustainable supply chain. We have demonstrated that commitment over the last ten years. These factories are cut and sew facilities; they do not have manufacturing processes that include use of the chemicals called out by Greenpeace. Further, Nike has responded to Greenpeace underscoring our comittment to aspiring to the same goal of a toxic-free future.
We believe that there is an opportunity to collaborate on the way forward as we both move towards less waste and the elimination of hazardous chemicals and non-renewable energy consumption. We are continuously working toward improving water usage and management of water in our global supply chain. This program covers all Nike contract factories, new sources and key material suppliers. For China it is our aim to bring all of Nike contract factories into the program in the next six months.
When we find one of our contract factories or suppliers in China on the IPE list, we immediately communicate with that factory or supplier to determine the root cause and for the factory or supplier to develop corrective action and remediation plans. Material supplier facilities participating in the Water Program submit production and water use data, discharge permits and laboratory test results on an annual basis using the H2O Insight online reporting system. We are committed to innovating new ways to design products from materials that require less water and fossil fuels and that can be percent renewable and recyclable at the end of their lifecycle.
Through innovative design, science, technology and process changes, we believe we can design out waste, eliminate hazardous chemicals and non-renewable energy consumption. Innovation also allows us to design in new materials and new approaches to products.135 massey ferguson gas tractor
We believe this is not just an imperative for Nike but for the industry as a whole and consumer goods at large. Our goal must be to seek ways to decouple economic growth from scarce and constrained natural resources and continue to push the boundaries of innovation — getting closer to closed-loop business models. Addressing chemistry and water are major factors to reaching this ultimate goal. Nike does business with more than contract factories in nearly 50 countries around the world.
This work is done within a complex and tiered network of buyers, agents, distributors and material suppliers. We acknowledge the need for industry-wide collaboration in order to create lasting, scalable, systemic change. Nike shares the aspirational goal of a toxic-free future outlined by Greenpeace and we believe our path to achieving this shared visions starts with how we manage our own supply chain. We have already begun that work. We have established standards and new approaches to guiding product development and manufacturing.
However, consistent implementation and adoption of these standards across our entire supply chain remains a challenge we continue to address.
We have always acknowledged that this is a journey, and the scale of change needed across such an extensive shared and complex set of industries is a long-term commitment, and that despite work done we still have much work ahead of us. We have piloted and created benchmarks for many of these initiatives through the NIKE Brand and have plans to integrate throughout the business. We also know to succeed, new forms of collaboration must occur between NGOs, government, suppliers, brands and civil society.
This collaboration must occur alongside a flow of innovation, science and technology. Our commitment is to work with Greenpeace to share the work we have embarked upon within our own supply chain, and to offer to partner with Greenpeace to help catalyze and accelerate these new forms of collaboration that will shift industries. Progress toward the above commitments will continue to be tracked and publicly disclosed through tools such as our CR Report. Global Water Program Nike has been working towards water stewardship for more than a decade.
Our global water program was launched in The key goals of this program are for contract factories to improve their water efficiency and wastewater quality and to ultimately return clean water to communities and the environment. Specifically, we direct the contract factories who, in turn, direct materials suppliers, to borrow water responsibly by using low or no-water processes where possible, improving the efficiency of water-intensive processes, and treating and recycling wastewater effectively.
We have established a number of chemical and water programs that drive innovation and evolve how our products are manufactured. Our Global Water Program has grown from a trial of approximately 50 suppliers to tracking well over suppliers this year. This allows us visibility to, and influence of, water quality for more than 50 billion gallons annually. Due to the shared nature of suppliers, our water program allows us to influence more than 10 times the amount used for Nike product alone.
In earlyNike released the H2O-Insight Water Tool in the hopes of allowing it to become an independent industry tool.Continued from Part 4. NKE is critical. It improves profit margins, reduces inventories, minimizes price markdowns, and ensures that the customer receives the right product assortment on time. Its manufacturing network consists of over factories in 42 countries.
Each product moves from 57 distribution centers across a network of 18, accounts andretail doors. Overseas manufacturing of products features in the strategies of rivals Under Armour Inc. NIKE is one of the pioneers of the industry-defining manufacturing outsourcing strategy.
HSBC downgrades Nike on coronavirus fears
Key manufacturing thrusts. Footwear manufacturers.Starbucks Example Coffee Supply Chain
Apparel manufacturers. Third-party licenses. NKE also has license agreements that permit unaffiliated parties to manufacture and sell using NIKE-owned trademarks, certain apparel, digital devices and applications, and other equipment designed for sports activities.
NIKE brand apparel and equipment products are also shipped from its distribution center in Foothill Ranch, California. Converse and Hurley products are shipped primarily from Ontario, California.
Continue to Part 6. Browse this series on Market Realist:. Sign in. Sign in to view your mail. Finance Home. Phalguni Soni. Market Realist December 4, Recently Viewed Your list is empty. What to Read Next. Yahoo Finance. Yahoo Finance Video. Yahoo Finance UK.Download Hi Res. Knight is a co-founder of the company and, except for the period from June through Septemberserved as its President from toand from June to Prior toMr.
After running competitively at Penn State University, Parker joined Nike as one of our first footwear designers back in He originally joined NIKE in Prior to joining NIKE, Campion held leadership roles in strategic planning, mergers and acquisitions, financial planning and analysis, operations planning, investor relations, and tax at The Walt Disney Company. Inhe was also appointed Vice President of Investor Relations. Prior to joining Nike, Matheson practiced employment law and holds a law degree from Indiana University, School of Law and an undergraduate degree from the University of Washington.Best insults
Spillane is responsible for developing the strategy that drives the creation of all Nike footwear, apparel and equipment, and he leads the merchandising of all product to the global marketplace. With extensive experience in marketing consumer products, Spillane previously held senior management roles at leading apparel and textile companies, including Malden Mills, Tommy Hilfiger USA, Jockey International, and Missbrenner, Inc. Spillane serves on the board of directors at The Boston Beer Co.
In evaluating potential candidates for suitability, the Committee considers many factors to identify individuals with the requisite intelligence, education, experience, and character to make significant contributions to the Board of Directors.Fairy tail various x reader wattpad
NIKE has been actively developing new technologies to enhance its manufacturing business model for the past few years with investments in automation, modernization, sustainability, and innovative new methods of manufacturing such as Flyknit. A phased approach to testing, developing and creating new methods of production will enable NIKE and Flex to develop an eco-system of suppliers and vendors to support long- term, sustainable manufacturing closer to major markets. Flextronics International Ltd.
With approximatelyprofessionals across 30 countries and a promise to help the world Live smarterTM, the company provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. For more information, visit www.
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Six ways to improve your personal performance. Procurement gender pay gap at senior levels 'exceptionally worrying'. Grenfell firm deferred fees to avoid OJEU tender. Women in cocoa supply chains 'see little return'.
Kellogg's updates sourcing policy after UK schoolgirls' campaign. Procurement should ensure public sector AI transparency. Coronavirus: be 'cautious' around citing force majeure.
Coronavirus: is it a force majeure? DP World wins ruling over Djibouti port seizure. Coronavirus: Primark announces wage fund for garment workers. Coronavirus: half of firms have experienced force majeure. Weathering the coronavirus financial No room for manoeuvre in lean supply How to fix procurement after Grenfell. Addressing the skills gap in the supply chain industry. We must equip procurement professionals to be leaders.
What procurement can learn from football. Lessons from the deaths of 39 people in a lorry. Setting thresholds to make supply chains sustainable. Do you even know you are being sold to? Did you think we had left slavery behind? Coronavirus: from crisis to procurement opportunity.Nike said it's closed half of its stores in China as the government tries to contain a new virus outbreak there, saying it will have a "material impact" on its operations across the country.
According to Nike, half of its stores within the marketplace have been temporarily closed, and the ones that are opened are operating with reduced hours — as stores are "experiencing lower than planned retail traffic. Other companies that have been affected by the coronavirus, which may be more contagious than data showsare the 41 casinos, including MGM Resorts, in Macao. The Macao government has requested a cease in operations for the next 15 days, but can be extended if deemed necessary.
More than 20, people across the world have been infected with more than deaths since the yet-to-be-named coronavirus first emerged in Wuhan, China on Dec. Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services.
All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. Key Points. Nike said the coronavirus outbreak will have a "material impact" on its China operations. But Nike also claims to have "extraordinary brand and business momentum in all other geographies. VIDEO Related Tags. News Tips Got a confidential news tip? We want to hear from you.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at ReggieWade. Read more:. Nike sells out of Kobe Bryant kicks and merchandise. Nike exec explains why the company broke up with Amazon.Socar azerbaijan
Almost half of teachers work a second job: survey. Read the latest financial and business news from Yahoo Finance. Related Quotes. HSBC Holdings plc. NIKE, Inc. Sign in. Sign in to view your mail. Finance Home. Reggie Wade Writer. Yahoo Finance February 26, View photos.
Nike supply chain report reveals problems in China
People wearing a protective facemask to protect against the COVID coronavirus walk past an Apple store and a Nike shop outside of a nearly empty shopping mall, minutes after rush hour, in Beijing on February 24, Recently Viewed Your list is empty.
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