System, Strategy and Goals
Sinyi Realty’s Supply Chain System
In adhering to the Sinyi Realty business philosophy, we understand that working with our suppliers is key to advancing our sustainability goals. In our supply chain management, we see suppliers as an extension of our workforce and our community, and as such work with them to develop truly sustainable supply chains. At present, Sinyi Realty’s supply chain system is as below:
Sinyi Realty’s Supply Chain System
To start from our core value, and through innovative service model, taking into account the interests of stakeholders as well as the CSR, we want to run a company with sustainability. Therefore, our supply chain management strategy is to develop sustainability with suppliers, from traditional view of “seeing profits only” to “seeing people and planet”, too. We need to integrate online and offline technology, and deepen our six-stage procedure to manage product cost, quality, etc. More important, we need to work with suppliers to enhance resilience and to create sustainable value.
Supply Chain Management Process
Setting Goals Sustainability Principles
- Sinyi Supply Chain Management Policy concerns four aspects: Social assessment, Legal compliance and business ethics, Economic impact, and Environmental protection. From there we have the Suppliers Sustainability terms, Procurement Ethics Standards, and Code of Business Integrity, wherein detailed specifications such as ISO 9001, ISO 20121, etc. are included.
Risk Assessment and
- Risk Assessment: Site visits help with understanding operational conditions and implementation of human of Sustainability terms, while supplier evaluations help with understanding of service quality, and in line with status, risk assessments will be undertaken.
- Risk Management: To ensure purchasing liaisons adhere to the Purchasing Ethics Standards, we have established a complaints mechanism, providing our Corporate Ethics Office as a channel for complaints in order to facilitate supervision and management.
Management Mechanism - Sustainability Performance Assessment
- ISO 9001: Routine and spot checks of supplier performance as regards quality, cost, and delivery performance, along with guidance where necessary.
- Supplier Sustainability Terms: Where there are concerns about possible violations of labor practices or Sustainability terms by a supplier, spot checks and improvement guidance will be enacted, and should a serious contravention of Sustainability s terms arise, a direct, in-person site check will be conducted.
- Purchasing Ethics Standards: Internal audit staff will conduct regular checks of purchasers.
Ongoing Improvement or
- Deadlines for Improvement: When there are concerns of possible breaches of labor practices or Sustainability terms have been identified at a supplier, they will be given a deadline for taking measures to address them, provide a written report, and undergo spot checks and guidance.
- Termination of Contract: If concrete improvements are not made by the deadline, the contract with the supplier will be terminated.
Training, Capacity Building,
- Share training resources and successful market experience with suppliers.
- Invite suppliers to participate in a seminars participate corporate ethics relating to corporate ethics, strengthening sustainability awareness.
- Discussing challenges of sustainability promotion in face-to-face talks on site and jointly developing solutions.
Responsibility and Education
- Through post-visit feedback forms, we provide suggestions for potential improvement directions.
- Through supplier CSR self-assessment forms, we provide suppliers with a way to review their own implementation of sustainability and set out their own improvement goals.
- 2021 Ongoing Target
100% signed the Supplier Sustainability Terms
100% signed the Procurement Ethics Standards
90% checked rate among existing key suppliers
100% checked rate among new key suppliers
Inviting key suppliers to fill out the CSR self-evaluation form
Introduce ISO 20400
Enhance ESG performance with suppliers together
- future Medium and Long Term Target
Setting Out Supplier Incentive Guidelines
Establishing Supplier Database
Implementing Supplier Evaluation Mechanism
Working with Suppliers to Put Corporate Ethics into Practice
First in Community Living Services
Launch Sustainable Supply Chain
Key Suppliers Inspection Rate to 95%