- Risk based management approach, also in operations
- Sustainability part of the operations performance indicators
Sika employs a risk-based management approach for its own operations, the supply chain, and the products it sells and distributes. Major operations are regularly screened by experts according to a loss prevention methodology, with frequent support from our insuring partners. Results are translated into improvement plans in consultation with management. This results in an overall low loss rate due to events such as major supply disruptions and ensures that customers receive their goods from Sika on time.
The Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD) has developed voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to investors, lenders, insurers, and other stakeholders. In 2019, Sika started to address the recommendations, and to integrate them into the reporting structure.
Through various audits and inspections of its own operations and suppliers as well as external audits by customers and certification bodies in Sika facilities, the company adopts a preventative approach and undertakes continuous improvements. Sika companies are certified to the international management system standards ISO 14001:2015 (Environmental Management) and ISO 9001:2015 (Quality Management) in all operations. The company aspires to fully implement OHSAS 18001 (Occupational Health and Safety Assessment) in major operations and is starting to introduce ISO 50001 (Energy Management) in the bigger facilities.
Regarding the supply of raw materials, Sika maintains a supplier qualification process for new vendors. This process encompasses three main elements: supplier code of conduct, supplier self-assessment and supplier visit. It can be complemented by supplier audits when necessary. The process covers all new suppliers. In addition, existing suppliers will be evaluated using similar criteria, such as supplier evaluation, supplier code of conduct, and material specifications. A clear process description of the supplier qualification is defined in the Procurement Manual and observed by Sika companies.
In respect of products and services, Sika follows the Product Development Process (PCP) to manage functional, safety, environmental, and commercial product risks. Regarding the life cycle of commercial products, Sika runs a comprehensive Product Stewardship program including preparation of customer instructions, information on proper use, registration, labelling, packaging and transportation, disposal, as well as improvement of product groups. Sika actively assumes responsibility for sustainability along the entire supply chain, from supplier qualification through production and distribution to the use phase and disposal of its products.