Selecting new suppliers
We have a set of standards that guide our business and behaviours. These standards set out what we consider to be best practice. All our suppliers are expected to meet our business standards.
When we work with suppliers, we outsource tasks. We don’t outsource risks. It’s our responsibility to carefully manage all risks within our supplier chain.
When we choose new suppliers, we work together to identify risks. We ask suppliers to provide evidence of how they manage risks, and we factor this into our decision-making process.
Global supplier management programme
Our global supplier management programme is designed as a structure for us to work together with our suppliers during our relationship. It will check our standards are upheld for as long as we work together and will also measure and monitor risks on an ongoing basis. The programme requires commitment from both parties and focusses on:
Management of contract risk and controls
Contingency and exit planning
Regulation and legal change
Innovation and continuous improvement
Supplier risk e.g. data governance