Supply Chain Management at Quest Diagnostics

November 16, 2023 05:10 AM AEDT | By 3BL
 Supply Chain Management at Quest Diagnostics
Image source: Kalkine Media

Originally published in Quest Diagnostics Corporate Responsibility Report 2022

Our global suppliers play a significant role in enabling us to deliver safe and high-quality services to patients.

We expect our suppliers to uphold our commitments to ethics, safety, quality, and more. Suppliers are required to read and adhere to our Supplier Code of Conduct as a condition of doing business with Quest. They must train their employees in our code of conduct, self-monitor, and demonstrate their compliance. In keeping with best practices, we conduct facility audits at intervals determined by risk assessments. By adhering to our code, suppliers agree to provide the highest-quality products and services and to operate under quality management principles based on industry standards.

Managing ESG risks in our supply chain 

We have defined ESG screening factors in our Supplier Business Engagement Model (SBEM) framework and embedded our ESG program into our strategic sourcing process. The SBEM requires that Quest weigh supplier ESG performance in our evaluation matrix for supplier selection. Our procurement team is trained on our SBEM framework, including the importance of our Supply Chain ESG program.

We began rolling out an ESG assessment to our suppliers in 2022. By the end of the year, over 40% of suppliers (based on volume of spend) successfully completed their assessments, allowing our team to improve monitoring of ESG-related risks across our supply chain.

Additionally, our Supply Chain team communicates with and learns from our peers about innovations and best practices that can enhance our efforts to improve the sustainability of our testing materials, packaging, and product delivery logistics.

Our commitment to human rights 

We uphold our commitment to human rights by operating in a way that treats all people with respect and dignity. Furthermore, we embrace diversity across our workforce and strive for a work environment that promotes diverse opinions and equal opportunities. We also respect our employees’ rights to freedom of association, consistent with applicable federal, state, and local laws.

We hold our suppliers to the same high standards, including:

  • Providing fair and equitable opportunity, wages, benefits, and other conditions of employment
  • Prohibiting child labor and human trafficking in workforce operations
  • Prohibiting coerced, indentured, or prison labor
  • Providing a safe and healthy work environment, including personal protection equipment and the tools for a safe working environment
  • Maintaining a workplace intended to be free of discrimination and harassment and prohibiting threats or abuse
  • Maintaining an inclusive culture that values the diversity and opinions of all employees

If a supplier fails to follow the standards established within our Code of Conduct, their relationship with Quest may be terminated.

Growing our supplier diversity program 

Quest promotes diversity, equity, and inclusion across our supply chain through our procurement efforts, supplier engagement, and professional memberships and networking. In the last 4 years, we purchased more than $1.4 billion in goods and services from small and diverse US businesses, including $375 million in 2022. We aim to grow our small business and diverse supplier spend annually.

Review our full approach in our Supply Chain Transparency overview and Supplier Diversity overview.

Read more


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.