ABAX launches new policy to strengthen sustainable and responsible procurement
A substantial part of ABAX investments are spent through procurement, and by updating the policy, ABAX is adding extra quality control steps to ensure suppliers meet their minimum standards of GDPR and CSR.
As part of the future digital transformation, the ABAX global purchasing and supply chain has been reviewed. Through a continuous improvement process in ABAX, the changes in the procurement policy are designed to increase quality and compliance and ensure alignment with the ABAX values: enthusiastic, customer-centric, innovative and sustainable.
“The changes will streamline documentation and include extra quality control steps to ensure that every supplier meets our minimum standards of GDPR and CSR,” says Jon Hearn, Compliance & Performance Director at ABAX.
The new policy has also redefined the procurement decision-making criteria - taking weight away from ‘price’ and bolstering the importance of ‘security’ and ‘environment’ when choosing suppliers.
As part of this process, ABAX will also create a more consistent approach to procurement and include a periodic assessment for all suppliers.
What has changed?
The ABAX Compliance team has audited the ABAX value chain, and it’s not only the procurement policy that is being updated but also the procurement process and supplier assessment documentation.
In the new Procurement Policy, ABAX has formulated requirements from the perspective of sustainability and human rights. "We address issues in the supply chain with sincerity and contribute to the realisation of a sustainable society with our clients", Hearn explains.
“ABAX strives to procure the best materials at the most reasonable prices and that they fulfil our corporate social responsibility (CSR) to the environment and the community through our procurement initiatives. Our new policy is a critical step in committing to the ABAX Group’s global corporate social responsibility”
Compliance & Performance Director.
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ABAX enables business insight and value from connected mobility data. By translating the customers' needs into advanced technology solutions, ABAX unlocks company data potential. ABAX is one of the largest telematics companies in Europe with solutions for mileage claim, tool tracking, and equipment control with over 500 000 tracked units all over the world. In 2020 ABAX started a journey expanding into developing mobility data solutions entering new verticals like insurance and leasing being the preferred mobility data provider for the B2B industry on a wider scale. Abax.com