Objective: At Out of the Box Gifts, we are committed to purchasing from underserved suppliers while promoting diversity, equality, and inclusion across all aspects of our business. We recognise the importance of nurturing a diverse supplier base that reflects the diversity of our customers. This policy outlines our commitment to providing preferences to suppliers with ownership from underrepresented populations and poor markets.
This policy applies to all purchasing and procurement activities conducted by Out of the Box Gifts. It covers the selection and evaluation of suppliers and ongoing supplier relationship management.
2.1 Underrepresented Populations: Refers to groups that historically have faced social, economic, and/or systemic barriers in business ownership, including but not limited to women, ethnic and racial minorities, LGBTQ+ individuals and people with disabilities.
2.2 Third Party Certifications include certifications such as Fairtrade, Organic, Rainforest Alliance, BCorp, Slave Free Chocolate, Living Wage Employer etc., ensuring that the producers and workers in the supply chain receive fair compensation for their efforts, helping to lift them out of poverty while promoting social and economic development in their communities.
- Policy Evaluation and Selection
3.1. We seek out purpose-led suppliers to work with and ensure that all brands have an ethical supply-chain and prioritise people and planet before profit.
3.2. Our supplier selection prioritises brands with ethical third-party certifications with a focus on certifications that alleviate poverty in poor markets.
3.3. We prioritise suppliers who reinvest profits into their social or environmental mission, such as providing employment opportunities for underrepresented communities, producing circular products, donating money to environmental and social causes etc.
3.4. Suppliers owned by underrepresented populations will be given preference in cases where they meet the necessary criteria, such as quality and ability to meet our business needs.
- Reporting and Accountability
4.1. Our target for making purchases from suppliers with diverse ownership is >60% of our total inventory spend. Our progress toward achieving this target will be regularly evaluated.
4.2. Out of the Box Gifts will maintain records and reports on the diversity of our supplier base and the progress made toward achieving our supplier diversity goals.
4.3. We will regularly review and report on our supplier diversity initiatives, providing updates to key stakeholders.
4.4. Accountability for implementing and maintaining this policy rests with Zoe Roberts, who will oversee supplier diversity initiatives and ensure compliance.
5. Supplier Audit
A supplier audit will be carried out annually post Financial Year to ensure that all suppliers continue to meet expected standards.
Out of the Box Gifts is committed to creating a diverse and inclusive supplier base that reflects the diversity of our society. By giving preferences to suppliers with ownership from underrepresented populations, we aim to promote economic empowerment and create a more equitable business environment.
Version 1.1. 22/05/2023