Trade Partner Management

Trade Partner Management

The company strives to pay attention to manage the supply change that supports the company's business operations in line with the sustainable development guidelines and has thus built confidence among stakeholders through transparent procurement processes in line with business ethics principles while being responsible to trade partners and treating trade partners equally with considerations to shared interests as follows:

The Company has a system for screening trading partners in the value chain who operate businesses in compliance with the law, safety and occupational hygiene standards, and friendliness to the environment. Trading partners are treated on the basis of fair competition, equality and mutual respect.

The confidentiality of secrets or communications of trading partners are maintained and not exploited for wrongful gains of oneself or of others.

Relationships and good understandings are fostered. Knowledge is exchanged. Developments and value adding to goods and services are jointly undertaken to promote mutual growth.

The Company adheres to trade agreements and makes proper representations of data. In the event that an agreement cannot be complied with, the Company will expeditiously engage in early negotiations with trading partners in order to reach a mutual remedy and loss prevention solution.

The Company does not demand, receive or consent to the receipt of properties or any other benefits outside trade agreements.

Trade Partner Risk Reduction Measures

This plays an important part in the company's business operations. Whenever a trade partner is chosen and conducts business with the company, in order to reduce activities that might cause raw material quality, social, or environmental impacts, the company has a process in place for verification. By this, a supplier audit plan is in place to evaluate trade partners every year. Otherwise, local visits or self-assessment might be conducted (supplier process audit check sheet) to evaluate performance, set corrective actions, and evaluate outcomes post-corrective actions in line with plans.

Trade partners whose performance fails to meet set standards are required to create corrective action plans to raise their standards with consideration to quality, quantity, safety in production and delivery, including compliance with the company's specifications.

Sourcing Trade Partners Locally

The company supports procuring products and services from trade partners in nearby communities as a top priority with consideration paired with standard specifications and the ability to meet the company's product and service requirements in order to build long-term relations with communities and promote community trust in the organization and sustainable business operations.