factors to consider when choosing suppliers Flashcards
1
Q
what do ethical/socially responsible suppliers do?
A
- provide good working conditions for employees
- pay fair wages
- sustainable resources/production processes
- high quality materials
2
Q
how does Lush meet ethical supplier standards?
A
- Uses only vegan/vegetarian recipes
- “fighting animal testing”
- no plastic
- employee benefit trust
(shares go to employees, business profit = employee profit)
3
Q
BENEFITS of socially responsible suppliers (4):
A
- improves reputation
- competitive advantage
- more investors
- retain & attract high quality employees
4
Q
LIMITATIONS of socially responsible suppliers (5):
A
- increased cost of production = higher priced products = less customers
- time taken to investigate suppliers = less productive
5
Q
factors to consider when choosing suppliers:
A
- quality
- cost
- reliability
- location
- ethical supply
=RECQL