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Resource Management Supply Chain Management
At Walrus Pump, we are dedicated to the highest standards of quality and environmental responsibility. For over half a century, we've harnessed specialized technology and eco-friendly processes to manufacture reliable and safe high-quality water pumps. We connect with a diverse network of supply chain partners to ensure the responsible sourcing of materials.
1 st We actively engage with suppliers at our Supplier Conference.
98 + Local procurement accounts for nearly of total purchases.
1000 +kWH Our new plant's solar power installations
Supplier Screening and Evaluation
At Walrus Pump, we extend our commitment to sustainability throughout our supply chain. Our comprehensive four-stage supplier management process ensures responsible sourcing practices. The four stages are market research, selfassessments, on-site factory visits, and final commitment signing. In 2023, we successfully added 14 new suppliers/contractors who met all our environmental and social responsibility criteria.
Strategic Supplier Management
Walrus Pump upholds the highest ethical standards. We have robust internal policies and actively participate in anti-corruption initiatives. We are committed to conducting business with integrity and never engage in bribery or other improper business practices. We categorize suppliers into three groups based on risk factors, materials, and purchase volume: key suppliers, procurement suppliers, and outsourcing suppliers. This categorization allows us to tailor our management strategies to each supplier type. In 2023, we worked with a total of 2369 suppliers and achieved a 100% signing rate for the Supplier Commitment among key suppliers. We are proud of our strong record of local procurement, exceeding 90% for three consecutive years. In 2023, a slight decrease (1.24%) was observed due to a shift from Taiwanese agents to direct sourcing from manufacturers in China. Despite this, local procurement remained high at 98.70%.
Risk Management of Critical Materials
Supplier Performance Appraisal
Walrus Pump’s evaluation process of supplier performance considers three key metrics: quality, delivery schedule, and cooperation. All suppliers undergo assessments based on our Supplier Evaluation Standards. This involves both internal assessments and on-site audits. For key suppliers, we conduct audits twice a year. In 2023, with the pandemic easing and industry stabilization, we achieved a 100% completion rate for both internal assessments and on-site reviews for all applicable suppliers. On a scoring scale from A to D, the average score was an impressive 90.85 (Grade A).
Win-Win Relationships with Suppliers
Walrus Pump is committed to fostering mutually beneficial relationships with our suppliers. We believe in a collaborative environment where both parties can thrive. In addition to legal training and outreach that helps suppliers mitigate regulatory and corruption risks, we provide coaching and workshops on process improvement, yield enhancement, and other strategic initiatives to support supplier growth and innovation. In 2023, we held 110 training sessions to ensure effective use of our supplier platform and good delivery of orders. We are committed to ongoing platform updates, such as improved drawing settings, to maintain optimal communication channels with suppliers.
