COVID – A Good Time To Look At Policies

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COVID – A Good Time To Look At Policies

November 2, 2020
By Narta

This year has given us some opportunities (glass half full thinking) to look at our processes and procedures. Get them out, dust them off and make adjustments if necessary. We shared an article last year about policies and it’s worth revisiting it a year later. Part of good governance is ensuring you have regular and scheduled reviews for your business procedures so they don’t become out of date. This article is about CSR Policies and how your business can tackle market expectations and those from your own employees.

What is Corporate Social Responsibility?
Corporate Social Responsibility (also known as CSR) is based on this simple principle: A business has made a commitment (whether that be regulated and/or self imposed) to look beyond just profit and be socially, ethically and/or environmentally responsible within their supply chain for the benefit of everyone affected by their business practices. These policies can govern their interactions with employees, management of the supply chain, sourcing, manufacturing or how they will engage with their customers. These will be written policies shared with the relevant parties that can include vendors, employees, government bodies and shareholders. There are no right or wrong policies - any start a company makes to be more socially aware is positive. However, there is best practice and through learning from other successful organisations and hearing their stories, this can help you on your path for change.

Where do I start?
There are a lot of great resources in the market as well as your professional networks, supply partners and of course, NARTA. As a Procurement Team, we are encouraged to see so many companies working towards their individual business goals! The Australian Government offers useful advice on setting a policy and these links can be found here https://www.humanrights.gov.au/our-work/corporate-social-responsibility-human-rights. However, should you require any assistance with regards to regulatory requirements for a particular category or require in-formation for your reporting, please also reach out to your category manager.

What’s next?
We have spoken in detail about the Modern Slavery Act in previous newsletters but that’s just the beginning. It is anticipated that Ethical Sourcing Reporting will eventually cover other elements of CSR, such as Environment and Sustainability. Now is the time to be reviewing your supply chains and NAR-TA Procurement are here to work with you through your process.

Should you have any questions or would like to share some of your business stories and journey to success, please reach out to any member of the team or email procurement@narta.com.au.