Supplier Code of Conduct

Supplier Code of Conduct

Wells Fargo pursues the vision of satisfying all the financial needs of its customers and helping customers to achieve financial success (Wells Fargo, 2021). The company recognizes the value of maintaining healthy, productive relationships with its suppliers in achieving this vision. To maintain such a relationship, Wells Fargo has developed a code of conduct to guide suppliers. Suppliers are expected to uphold ethical practices as well as strong values always. Precisely, suppliers are expected to observe integrity in all transactions, desisting from corruption, bribery, extortion and other unethical practices. The company also expects suppliers to treat their employees ethically. Other values espoused in the supplier code of conduct include transparency, confidentiality, customers’ privacy, environmental stewardship, diversity tolerance, and corporate social responsibility (Wells Fargo, n.d.). If I were tasked with creating a supplier code of conduct for the company I work in, I would begin by doing a risk assessment about the supply chain. I would engage a four-member committee to help me with this task. My committee would comprise the chief financial officer, the head of procurement, and the quality assurance officer. Once we have done a supply chain risk assessment, we would obtain and do a comparison of the different codes of conduct used by other companies in the market. We would also enter into consultations with the different suppliers to agree on terms, conditions, and values.

Response to Olivia

Your plan for developing a supplier code of conduct for your company is impressive; engaging different stakeholders and regularly reviewing the code to ensure compliance is highly remarkable. Perhaps you could provide more clarity on what you mean when you say that you will SMEs as team members. In my understanding, SME is the abbreviation for small and medium sized enterprises. Do you mean that your committee will comprise people from outside your company?

References

Wells Fargo. (2021). Our Code of Ethics and Business Conduct. www08.wellsfargomedia.com/assets/pdf/about/corporate/code-of-ethics.pdf

Wells Fargo. (n.d.). Wells Fargo Supplier Code of Conduct. www08.wellsfargomedia.com/assets/pdf/about/corporate/supplier-code-of-conduct.pdf

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