Why Is It Material
We believe in procuring responsibly to ensure a sustainable supply of goods and services to meet business needs. We are committed to managing our vendors ethically and effectively to ensure a robust supply chain.
How We Manage
Our procurement community champions the effective management of our vendors to align business behaviours, drive greater efficiencies, streamline processes and enable greater visibility. Our Responsible Procurement Framework helps us to work with our vendors to embed our principles of responsible procurement.
What We Do
Our approach towards responsible procurement is guided by five principles:
- We are committed to ethical procurement
- We do not compromise on the quality and safety of our products and services
- We practise value for money procurement
- We safeguard the health and safety of workers
- We protect the environment
These principles underpins our Responsible Procurement framework which comprises three pillars:
- Vendor Conduct – this is aligned to our sustainability agenda, defines our principles and polices, and lays down the basic behaviours and practices we require of our suppliers concerning their responsibilities towards their stakeholders and the environment
- Vendor Management – this streamlines the systems and processes we employ to screen, onboard and assess the performance of our vendors, giving them a consistent experience working with the Group
- Vendor Relationship – this segments our vendors based on profit impact and supplier risks into four categories; namely strategic, leverage, bottleneck and non-critical, for more effective management of the relationships
Through the above framework, we:
- Refine our Global Procurement Policy
- Uphold our Vendor Code of Conduct
- Enhance our systems and processes for better vendor management, including the use of recognised third party platform to carry out independent checks on suppliers
- Measure and review performance of our vendors for continual improvement or remedial action, including black listing as appropriate
- Work with our vendors to improve their sustainability performance and those of their suppliers as needed
View our Sustainability Report to find out what we did in 2020 and what we will do in 2021.