• Supplier Management – this streamlines the systems and processes we employ to screen, onboard and assess the performance of our suppliers, giving them a consistent experience while working with the Group • Supplier Relationship – this categorises our suppliers based on profit impact and supplier risks into four categories: strategic, leverage, bottleneck and non-critical, for more effective management of the relationships Through the above framework, we: • Refine our Global Procurement Policy to enable effective and efficient procuring processes • Uphold our Supplier Code of Conduct • Enhance our systems and processes for better supplier management, including the use of recognised third party platforms to carry out independent checks on suppliers • Measure and review the performance of our suppliers for continual improvement or remedial action, including blacklisting them from future business as appropriate • Work with our suppliers to improve their sustainability performance and those of their suppliers Group Procurement is studying the impact of supply chain risks relevant to specific lines of business and developing targeted planning and mitigation strategies. This will subsequently be broadened into a framework across the Group. In Singapore, 55% of our procurement was spent locally where orders were issued to a company based in Singapore OUR GOVERNANCE AND FRAMEWORK The Group Chief Procurement Officer oversees our procurement community which champions the effective management of our supply chain. Our procurement community is guided by our Responsible Procurement framework and aligns our suppliers’ business behaviours, drives greater efficiencies, streamlines processes and enables greater visibility of our supply chain. 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 believe in cost-effective procurement practices • We safeguard the health and safety of workers • We protect the environment These principles underpin our Responsible Procurement framework which comprises three pillars: • Supplier Conduct – this provides a firm foundation for our framework and is aligned to our sustainability agenda. Our Supplier Code of Conduct defines our principles and standards and lays down the basic behaviours and practices we require of our suppliers concerning their responsibilities towards their stakeholders and the environment Read our Supplier Code of Conduct OVERVIEW OUR SUSTAINABILITY APPROACH ECONOMIC ENVIRONMENTAL SOCIAL GOVERNANCE INDEX 35
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