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Sustainable procurement policy

Hegelmann will execute the procurement process at a minimum cost through innovative changes in procurement customs and methods to pursue the Hegelmann Corporate Philosophy of, “Provide valuable products and services to all our customers”. Hegelmann shall strive to achieve and continue its procurement process in cooperation with authorized suppliers across the world as our business partners.

Hegelmann defines the following basic policies in order to execute our sustainable procurement mission in daily operations.

1. CSR procurement

  • Hegelmann shall comply with the laws and social norms and ask all authorized suppliers to comply with applicable laws and standards for a healthy workplace including environmental protection and human rights.

2. Conflicts of interest and prevention of unfair business practices

  • Hegelmann officers and employees or their families must not engage in the procurement process with a supplier whose relatives engage suppliers’ management.
  • Hegelmann officers and employees that are involved in the procurement process must not accept any gifts or benefits beyond the bounds of socially acceptable limits.

3. Pursue economic rationality by engaging in open and transparent processes

  • Hegelmann shall execute a fair supplier selection by utilizing open competitive bidding.
  • Hegelmann shall always provide opportunities to competitive suppliers all over the world.
  • Hegelmann shall promote the consolidation of suppliers and standardization of purchasing goods and specifications.

4. Partnership

  • Hegelmann and suppliers shall continually suggest and consult with each other for cost savings and quality improvement opportunities.
  • Hegelmann and suppliers shall collaborate to establish a crisis management system for the supply chain and its maintenance.

Hegelmann and suppliers shall drive the implementation of electronic transactions, three-way match (purchase orders, statement of delivery, invoice), and business efficiency for strengthening governance.

Date: 12.2022