At Mega Lifesciences’s We care for our Partners and we extend this care across our value chain.
We are focused and driven to make positive changes in our value chain and assist/ encourage our partners to enhance their sustainable business practices and build a resilient value chain across the globe. We wish to manage our inbound and outbound risks and help build value for our Company and key stakeholders.
Mega Lifesciences being a dominantly pharmaceutical and pharma-grade medicinal supplements company has embedded Supplier evaluation and Supplier Risk management since more than 20 years. This program was designed for all our Raw Material critical non-raw material Suppliers. However, recently since last more than 3 years we have extended this risk based program to areas such as Human Rights, Climate Assessment, Anti-Corruption, Data Protection, Discrimination, democratic workplace and Child Labor.
Mega Lifesciences has introduced and published a Supplier Code of Ethics which lays down the Principles of engagement with our Supply Chain.
The team and Mega Lifesciences is willing to assist and cooperate with our Supply Chain Stakeholders to help them build a more resilient and sustainable work environment.
Mega Lifesciences has a program of evaluation of Suppliers/ Customers on a rotation basis to ensure we evaluate and understand a critical Supplier once in 3-5 years.
Supplier Code and Regulatory evaluation checklists evaluate the below areas:
- Human rights
- Gender parity
- Child Labor
- Business Ethics and Code of conduct
- Data Protection
- Environmental and Regulatory Compliance
- Freedom of Association and Collective Bargaining
- Health, Safety and Hygiene at workplace
- Anti-trust/ Competition practices
- Sanctioned Individuals
- Supplier remuneration
Mega Lifesciences works with suppliers to evaluate and control the Scope 2 and Scope 3 emissions. We are also committed to extend the monitor and encourage reduction of Greenhouse Gases.
Mega Lifesciences also engages with Suppliers to build commitment towards United Nations Sustainable Development Goals (SDGs).
We will also encourage CSR committement of our Suppliers and help build a sustainable and healthy society.
Good Health By Yourself
Mega Lifesciences encourages Good Health and a healthy preventive lifestyle to ensure our Partners live long and healthy. It is our constant pursuit to build a sustainable work place in Mega Lifesciences and in the work places of its Suppliers.
Supply Chain Resilience
Mega Lifesciences evaluates and identifies the risks in Supply Chain by ensuring checklists are sent to Suppliers for evaluating key parameters and to study the associated Risks. Mega Lifesciences intends to work with its’ Suppliers to identify and mitigate risks.
Mega Lifesciences sends a checklist and the Supplier code of Conduct to understand the risks and ensure we build a ESG sensitive Supply Chain and we are able to meet our Climate Change Strategy.
In year 2022, the evaluation checklists were sent to 24 suppliers and Supplier code of conduct was sent to 20 suppliers.