Responsible Sourcing

Responsible Sourcing

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:
  1. Human rights
  2. Non-Discrimination
  3. Diversity
  4. Gender parity
  5. Child Labor
  6. Anti-Corruption
  7. Business Ethics and Code of Conduct
  8. Data Protection
  9. Environmental and Regulatory Compliance
  10. Freedom of Association and Collective Bargaining
  11. Health, Safety and Hygiene at Workplace
  12. Confidentiality
  13. Anti-trust/ Competition Practices
  14. Sanctioned Individuals
  15. Supplier Remuneration

Supplier Outreach

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.

Creditor

Our Company is committed to fulfilling all contractual obligations and financial responsibilities with transparency and integrity including maintaining punctual payment and quality of collateral. Together with our subsidiaries, we attempt to provide our creditors with full and accurate information about our progress, as required, through an ongoing face-to-face and quarterly financial disclosure on our website for smooth dealings and to comply with all our obligations.

We will promptly notify our creditors of any inability to meet our obligations and work towards mutually acceptable solutions.

Moreover, we want to see our creditors adhere to business principles consistent with our own and ensure that their products and services are produced and delivered to comply with all legislation relevant to their business in the areas where they operate.

Conflict of Interest Policy training was delivered through on-site sessions at the Head Office, and online session was provided to our units in Malaysia, Vietnam, Indonesia, Myanmar.

For 2024, there was no material case regarding conflict of interest. Any minor non-compliance with our Conflict of Interest Policy was appropriately investigated and managed.

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.