HK inno.N

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HK inno.N seeks to contribute to a better future for all by working towards growth of
its business while living up to its corporate social responsibility.

Mutual Growth Management

Strategy

Strategy of supply chain management

HK inno.N’s partner companies are also requested to comply with the Code of Conduct for Partner Companies that includes certain standards to be met in the categories of ethics, human rights, safety and health and the environment. All partner companies are asked to sign a pledge of compliance and anti-corruption to show their commitment to proactively participating in realizing the values of ethical management and living up to their social responsibility. When issues related to relevant rules or laws arise, HK inno.N also helps partner companies address them and mitigate risks.

Action and
impacts

New transactions with supply chain

HK inno.N operates an integrated purchasing management system called the Supplier Relationship Management System, or SRM to establish a sustainable supply chain. The system allows for the company to conduct assessments on of suppliers’ financial and non-financial aspects from the initial transaction, including a review of their revenue growth, debt ratio, credit rating and reliance on debt. By introducing a tender system to purchase competitive raw and packaging materials, electronic contract-signing and order placement are facilitated, increasing work efficiency

Supply chain risk management process

HK inno.N selects key supply chain players based on their importance in HK inno.N’s business and the size of business Process for the diagnosis of supplier risks transactions the company has with them. Of the key supply chain players, suppliers that HK inno.N is found to have a particularly high reliance on but would have difficulty in replacing, are identified as high-risk suppliers. Such highrisk suppliers are then further categorized into five grades based on their financial standing and ESG assessment results. Suppliers with a low grade are then asked to submit a plan for improvement. Based on the improvement plan submitted, HK inno.N offers support in making the supplier’s business more sustainable, and if the plan and such support are still not enough, HK inno.N also conducts on-site inspections and audits.

Supports for supply chain

➀ Talent-fostering

  • HK inno.N’s Woo-bo-Cheon-Li Win-Win Dream Academy offers quality training curricula tailored to the needs of small and medium-sized partner companies. The Academy aims at closing the gap where there is a high need for training on specific subjects but partner companies are constrained in operating their own programs. In 2023, an induction course focused on strengthening the capabilities of new recruits, as well as a course for senior managers was held to move closer to achieving collective growth with partner companies

➁ Quality

  • Meetings of the Partner Company Consultative Group on Quality are held to bring partner companies up to speed on quality training and share the latest issues involving quality.

➂ Compliance

  • HK inno.N sends out CP Letters that relay the latest news on relevant laws, including news on compliance, to partner companies, and hold regular meetings or training sessions to strengthen partner companies’ capabilities in legal compliance and ESG management

Communication channel for supply chain

Diversification of communication channels with partner companies
HK inno.N strives to develop mutually beneficial partnerships and establish transparent supply chain transaction practices.

HK inno.N strives to maintain and develop win-win partnerships by diversifying communication channels with suppliers and to establish transparent practices in the relationship with suppliers. HK inno.N collects feedback from partner companies through regular face-to-face interviews and various communication channels available on an ongoing basis. In particular, it operates a grievance channel for supply chain workers that supports anonymous reporting. By protecting reporters’ confidentiality and prohibiting adverse treatment or retaliation for reporting, HK inno.N helps ensure that grievances can be raised and handled safely.

  • Cyber Grievance Channel
  • SRM Message Board
  • Quality Council
  • Council for WinWin Partnership
  • Meeting of the Council of Partner Companies
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