Disclaimer: These are general points to consider. We recommend consulting a policy expert to ensure guidance tailored to your company’s specific situation.
Creating and implementing effective policies requires a strategic approach. Here are some key points to consider:
1. Start with Your Suppliers
The first step is to understand your current collaboration with suppliers. Who provides which products or services? What risks are associated with each supplier? Also, consider how you prioritize them—for example, freight and packaging suppliers may have different requirements and expectations.
2. Define Clear Responsibilities
Who in your organization should work with which suppliers? A clear division of responsibilities ensures that policies are not just words on paper but are actually followed in practice.
3. Look at Best Practices from Other Companies
The report "Transparency and Accountability 2024" provides insights into how different companies handle their policies. Identify companies similar to yours and draw inspiration from their approaches to transparency, accountability, and supplier management.
4. Structure Your Policies
Policies should be operational and easy to integrate into daily workflows. Consider structuring them into:
Overall principles (e.g., ethical guidelines, compliance requirements)
Specific supplier requirements (e.g., environmental standards, human rights, certifications)
Internal monitoring and follow-up (who evaluates and ensures compliance?)
5. Make Policies Actionable
A policy should not just be a document—it should be a tool that helps you make better decisions and conduct business responsibly. This means policies should be:
Clear and measurable
Anchored in business operations
Regularly reviewed and updated
By following these steps, you can ensure that your policies are not just a formality but an active part of your supplier management and responsible value chain efforts.