Supplier Due Diligence
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- Supplier Due Diligence
Compliance to NKT’s Code of Conduct
As a foundation for collaboration, suppliers are required to confirm compliance with NKT’s Code of Conduct and Human Rights Policy.
Supplier qualification process
As part of NKT’s supplier qualification process, suppliers complete a self-assessment questionnaire which incorporates parameters related to health, safety, quality, human rights, climate and environment.
Further material risk related requirements
REACH (Registration, Evaluation, Authorization and Restriction of Chemicals).
Responsible Mineral Initiative (RMI) and connected Conflict Mineral Reporting Template (CMRT) if materials supplied to NKT contain Tantalum, Tin Tungsten or Gold.
Compliance risk review
For the compliance risk review, a screening and monitoring tool is used to check suppliers against: sanction lists, watchlists and blacklists, politically exposed persons (PEP) and adverse media, etc. If a supplier non-compliance is detected, the scope of the cooperation must be reviewed and documented to the NKT Compliance function.
Financial stability
The financial stability of the supplier is evaluated.
Supplier information assurance
The supplier information assurance is done through an on-site supplier audit, prioritized based on suppliers strategic importance, risk and quality parameters.
Validation
The supplier due diligence is valid for two years and then needs to be re-performed.
Supplier Due Diligence Process
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