Supply chain management is now equally vital to the sustainability of all businesses, regardless of the geographic area they are operating in or the products / services they supply.
A number of different suppliers are involved in the procurement process, constituting a process that manages materials, products, services, systems and information to deliver the end product to the customer.
In view of the increased pressures arising from current economic, environmental, financial and social conditions on the global market, it is imperative to have a supply chain policy. A successful supply chain management strategy is a significant competitive advantage.
The Group recognizes these challenges and has formulated a supply chain management policy that will enable it to:
- maximize the quality and value of the product at the minimum cost
- optimize the terms and conditions of collaboration, aiming at improving the performance of all parties involved
- work closely with its network of suppliers to immediately recognize changes in technology and the economy and then to develop appropriate action and adaptation plans
- ensure that suppliers operate in accordance with commercial and environmental standards by evaluating their relevant certifications
- maintain a dynamic communication network with all parts of the supply chain in order to ensure a proactive response to possible changes / market threats
- avoid the dangers arising from cooperation with suppliers who operate in an unethical or illegal manner and / or do not respect human rights For supply chain management issues, the OTE Group also works with Deutshe Telekom, whose approach has been widely recognized (its supply chain management has been rated "Best in Class" by relevant rating agencies such as SAM.
Modern supply chains are called upon to respond to a set of global challenges in a dynamically changing environmental, economic and social field. Sustainable supply chains are characterized by reduced environmental impact, support of the economic development of their partners and promotion of social issues, such as addressing child labor, focusing on health and safety, and protecting human rights and industrial relations.
The development and maintenance of a supply chain with added value for the Group, and with economic, environmental and socially responsible processes and practices in line with the Group's vision, is a continuous challenge.
The Group's suppliers are important partners for the achievement of business objectives that will ensure its competitiveness and sustainable development, affecting not only the Group's financial performance but also its relations with the other social partners. Furthermore, our lists of suppliers (Vendor Register), are renewed. For instance, in 2019, the list consisted of 1,233 suppliers for OTE, 662 for COSMOTE and 167 for GERMANOS. The lists include both multinational and local companies for the purchase of materials and equipment or for the provision/lease of services.