On 13 May, business leaders, business ethics experts, supply managers and other interested parties shared best business practices and discussed the tools used to check the reliability of company supply chains and trustworthiness and transparency of suppliers. They also discussed how the suppliers respond to a request to sign a supplier’s declaration, code of ethics or any other paper on transparent behaviour.
The meeting was also attended by the STT representatives Rūta Kaziliūnaitė, Head of the Legal and International Cooperation Division and Vidmantas Mečkauskas, Head of the Corruption Risk Division of the Corruption Prevention Department.
By choosing one or another supplier control mechanism, companies in particular seek to highlight the conduct they expect from their suppliers who frequently determine the companies’ reputation. By doing so, the companies establish high business ethics standards for their own employees as well. It is noteworthy that only a few years ago suppliers doubted the necessity for the code of ethics, today, however, it is considered as a standard and best practice. The code of ethics is an excellent tool for both improving staff qualifications and reviewing and restructuring company’s internal processes.
Control mechanisms build up business relationships between the company and supplier based on integrity, confidence and partnership and contribute to dissemination of transparent business practice in Lithuania.
This meeting was aimed at encouraging transparent and responsible companies to share their experience as well as to enriching the knowledge of market participants on business ethics and discussing the most effective ways of creating an ethical business culture in Lithuania. The meeting was arranged on the initiative of the business labelling initiative “Baltoji banga”.