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POSCO to stop selecting suppliers on lowest price-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
4/3/2018 不锈钢展-不锈钢展会-效果最好的不锈钢展会- Stainless Steel Exhibition |
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Korea Joongang Daily reported that POSCO will stop selecting suppliers based on price starting next month, the steelmaker said making it the first major Korean company to abolish the practice. Any bidder that suggests a price lower than 85% of the average calculated based on bidding prices and the standard price will be automatically dropped from the bid. POSCO said the tendency to select bidders that offer the lowest price has led to poor practices such as cutting operational expenses and sending low quality products.
Posco will enforce a policy to evaluate bidders based on product quality and competitiveness. The steelmaker is already known for its transparency, making records of supplier bids open to the public since 2015. Any potential bidder can use the records to freely participate in future bids.
The company said that “The new policy will help small and medium-sized suppliers participate in bids with a price that ensures appropriate margins. This will give them more stable profits, leading to more employment and research and development investment on their side, while Posco will be able to produce high-quality products and prevent risks to safety.”
不锈钢展-2018第十九届广州国际不锈钢工业展-效果最好的不锈钢展会-The 19th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
- Stainless Steel exhibition,2018
Stainless Steel exhibition, China Stainless Steel exhibition,
Guangzhou Stainless Steel expo,Guangzhou
Stainless Steel exhibition, 2018 Stainless Steel expo,
China Stainless Steel expo
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