VP Bank’s suppliers
The way in which procurement is handled has a considerable influence on a company’s environmental impact, image and, not least of all, on its cost structure. When commissioning goods and services, VP Bank considers a range of criteria such as ecological standards, quality, energy consumption and waste disposal.
The “Procurement principles of VP Bank” is a directive that establishes guidelines for the way VP Bank conducts its purchasing activities. Transparent ordering criteria and clearly defined requirements for suppliers ensure not only the quality of the procurement process but also that of the relations with those suppliers. The ecological principle of “avoid, reduce, recycle” is observed in VP Bank’s purchasing practices. If they offer comparable characteristics at the same conditions, goods that are especially environmentally friendly, or come from environmentally certified producers, are given preference.
VP Bank’s suppliers are urged to voluntarily propose environmentally friendly alternatives. They are also required to deliver only merchandise and goods that are in keeping with Liechtenstein’s environmental laws and come from countries that comply with the conventions of the International Labour Organisation (ILO). Those conventions establish minimum standards for the observance of human rights, equal opportunities (nationality, gender), working conditions (health and safety at work, wages), child labour and environmental pollution.
In terms of printing services, VP Bank works mainly with partner companies that print in a climate-neutral way. In the procurement of shareholder gifts, sustainable suppliers from the surrounding region are retained – for example, the Health Education Center of the Principality of Liechtenstein (HPZ). VP Bank also uses that institution for packaging purposes.
To optimise relationships with its suppliers, VP Bank maintains a constant dialogue with them. For larger orders, specification sheets are drawn up and discussed with the suppliers, as is the timetable of the procedure. Suppliers that have not won the bid for large-scale orders are informed of that fact either in writing or by telephone. In both instances, the reasons for the negative decision are explained openly. The suppliers are periodically assessed according to the criteria, “quality, reliability, competitiveness and partnership”. Upon request, the results of the assessment are discussed face-to-face with the supplier.
