We understand our suppliers’ competitiveness determines LGE’s competitiveness. We will continue to create new programs and expand our support, as well as focus on enhancing the capability of our expert staffs for assisting our suppliers.
Through various communication programs, LG Electronics provides encouragement for suppliers and listens to their opinions and challenges, while also guaranteeing transparency in all business transactions.
|Supplier Portal||Opened||Convenient online communication with LG Electronics (inquiries and suggestions on procurement transactions) is available with all relevant systems integrated.|
|New Supplier Registration System||Opened||Companies can apply to become a new supplier for LGE using this system, at which time they will be automatically connected to LGE’s purchasing personnel after an automatic screening process.|
|Supplier Suggestion System||Opened||Every supplier’s suggestions on work process improvement will be taken into account for R&D, general management activities, and mutual growth.|
|Suppliers’ Satisfaction Survey||1/ Year||Surveys on LGE’s overall capabilities in such areas as purchasing, product quality, R&D, and design will reveal any potential problems.|
|Evaluation & Awards for Existing Suppliers||1/ Year||Incentives and penalties will be imposed by regularly evaluating each existing supplier’s business results and transactions.|
|Global Suppliers Day||1/ Year||LG Electronics will share its vision and achievements with its top 300 suppliers, LG affiliates, and LGE’s major executives and purchasing personnel.|
|Procurement Executive Council||1/ Quarter||As the top organization to make decisions on purchasing, the committee evaluates suppliers, reviews satisfaction surveys, and examines ways to support business partners.|
LG Electronics offers a supplier grievance reporting channel on the corporate website (www.lge.com) and the Win-Win Growth website (winwin.lge.com/winwin/) to gather supplier complaints and grievances, and to address the issues. We commission a third party assurance agency to conduct supplier satisfaction survey on business transactions and Win-Win Growth programs to gather frank feedback, promote communication, and effectively resolve supplier grievances.