(fcc) Procurement

By including questions about human rights, labor standards, ethics, business continuity, and environmental practices in our standard Requests for Proposal (RFP) template and supplier assessments, we strive to ensure that potential suppliers are operating responsibly.

Fastcomcorp has established a Sustainable Procurement Hub to collaborate with its suppliers, partners, and the broader ecosystem. This initiative aims to foster a culture of responsible purchasing, incorporating tailored and targeted information requirements and interventions for small, medium, and diverse enterprises.

Additionally, we have specific requirements for suppliers who wish to subcontract any of our work. These stipulate that we must be aware of and agree to the arrangement, ensuring that the subcontractor adheres to the appropriate terms and conditions.

Once a supplier agrees to our Supplier Standards of Conduct and begins work, our due diligence processes focus on suppliers with access to confidential and/or personal data. We collaborate with suppliers to address any issues that arise during our reviews, and if no acceptable resolution is found, we will take necessary actions, including contract termination.

To maintain excellence in responsible buying, we continually update our supplier and contractor management processes.

Our Risk Management Model maintains strict controls throughout the supplier life cycle as needed. These enhancements ensure that our suppliers support our commitments to environmental sustainability, human rights, inclusion, diversity, and social innovation. Updates to our Risk Model also enable us to focus on suppliers presenting higher risk levels, prompting relevant teams to take further investigative action. This is achieved through stronger coordination between Fastcomcorp business groups managing supplier risks and controls.

All Fastcomcorp employees, including part-time staff, must complete the mandatory Ethics & Compliance training by July 31 each year to remain fully eligible. In fiscal 2023, we achieved a completion rate of over 99%. Contractors are also required to finish their Ethics & Compliance training within 60 days, facing potential revocation or termination if they fail to comply. Our objective is to sustain high completion rates for training worldwide and continually assess the effectiveness and relevance of our training programs through user feedback.