Supply Chain Management Strategy
The following are core components in our supply chain management strategy:
EGCO Group is committed to the sustainable procurement of goods and services, operating with excellence, transparency, and fairness in all processes. We embed ESG principles and global standards related to corporate governance, environment management, and social care in issues important to us into our strategy. Partners, suppliers, and stakeholders are encouraged to acknowledge the EGCO Group Procurement Policy as a framework to guide behaviors, practices, and actions in the same direction as follows:
- Determine supplier qualifications and necessary recruitment steps in order to find suppliers who can both deliver goods and services that meet the organization’s needs and agree to comply with the Supplier Code of Conduct.
- Establish a process for supplier selection and preliminary risk assessment to ensure transparency, fairness, and risk awareness; appropriately determine next steps and measures to prevent and remediate those risks.
- Monitor performance to ensure supplier delivery of goods and/or services are of quality and as ordered.
- Establish clear guidelines and protocols for when/if there are complaints or evidence of non-compliance with the Supplier Code of Conduct.
- Communicate and understand the relevant parties involved in all stages throughout the supply chain, including subsidiaries, joint ventures, and suppliers/business alliances.