In order to develop and manufacture class leading, highly reliable products for our customers and markets, REDARC sources materials and services from many countries around the world. The global nature of electronics means that parts are sourced from large specialised multinational corporations (MNC) who operate in different geographies according to regional specifications. REDARC often engage these NMC via global distribution partners. We also place emphasis on supply from leading Australian manufacturers and will also deal directly with suppliers overseas when necessary.
REDARC purchases a wide range of products that we use in the manufacture of our equipment or buy in as products that supplement our customer offering. In 2021 our supplies were based in the following regions of the world:
- 79% of our supplies were based in Australia and New Zealand
- 8% in Asia
- 9% in the US
- 4% in Europe
REDARC chooses to work with innovative, responsible suppliers who meet REDARC’s stringent quality specifications. We look to develop ongoing trusting relationships with suppliers who incorporate and demonstrate our core values. We regularly meet with our suppliers and conduct face to face audits as part of our supplier onboarding process.
Though COVID-19 has impacted our ability to travel to suppliers, we are developing relationships with trusted specialists in high risk regions to assist with our supplier monitoring.
MODERN SLAVERY RISKS & MANAGEMENT
REDARC has evaluated both its internal operations and the global supply chain to assess the likelihood of Modern Slavery risks and is committed to ethical, sustainable procurement in operations while reducing Modern Slavery risks in our supply chain. We select high quality products from many MNC's who have stringent reporting requirements and processes to mitigate against Modern Slavery and resource exploitation. REDARC suppliers are expected to respect a certain code of conduct and behave in a way that is consistent with our values.
To address Modern Slavery risks in our supply chain, REDARC has trained key members of staff who may interact with suppliers. These staff are trained to identify risks, how to manage them and who to report to. We are supported with policies and procedures that are promoted within the business and, in the last year, purchasing policies and procedures have been updated to include features of the Modern Slavery act.
While REDARC has grown over the years, we have made an effort to maintain our integrity and values with each person that has been recruited. As such, reporting is transparent and the open door policy is lived by all staff.
In 2022, we will develop our Whistle Blower policy and ensure that we have a more formal grievance process in place that supports Modern Slavery risk. We remain confident that our staff and supplies will report immediately if Modern Slavery risks are witnessed.