PRODUCT RESPONSIBILITY
Our products are essential components of electrical systems and electronic devices, and play a critical role in the functioning of larger systems. Quality and reliability are paramount to our customers. In addition to designing for durability, the high quality and standards of our products are ensured and monitored through rigorous testing, which is often above and beyond the requirements of our customers, and the adoption of ISO 9001 Quality Management Systems. As a result, the overall rejection rates for our products due to quality issues are negligible.
PRODUCT SUSTAINABILITY
The sustainability of our products is also one of our priorities. We ensure raw materials used are from responsible sources, which are procured in accordance with the principles in our Supplier Code of Conduct, Modern Slavery Statement and Conflict Minerals Policy. These are verified and monitored through regular local checks and supplier audits where appropriate. In the event of non-compliance, we would engage with the supplier to seek measures to rectify the non-compliance or seek alternatives if appropriate. During 2023, we completed the third phase of our Group-wide supplier audit programme. Following the first and second phases completed in FY2022 and FY2023 respectively, this takes the overall proportion of Group suppliers audited (measured by spend) up to 55% over the last three years.
Our magnetic components use raw materials, such as copper and aluminium, which are essential to electrical equipment. We design, manufacture and deliver products with sustainability in mind. Where it is possible, and with customer permission, recycled raw materials are used in production processes. We also proactively reduce and recycle packaging and replace plastics with recyclable materials such as paper and cardboard.
Our products are components that are often embedded in a larger system, which means that the likelihood of replacements being required must be minimised. As such, our products are designed for long lifespans and are intended to be energy efficient in order to reduce downtime.