Procurement policy

Aware of the importance of optimum supplier management, Caja Madrid applies a procurement policy based on the following principles:

Desertification Elena Celestino ValladaresBranch 1785

• Competitive selection of suppliers (bid list) for the purchasing process, so the business unit which has requested the purchase gets the best possible result.
• Transparency in the choice of suppliers, thanks to standardised procedures and collective decision-making under the Authorities and Delegated Powers system.
• Diversification of business among various suppliers, to spread out wealth generation.
• Objective decision-making based on a checklist of selection criteria.
• Transmission to suppliers of the organisation's sustainability and environmental values.

An essential part of applying the above policy principles involves making sure suppliers acknowledge, understand and accept these principles. Caja Madrid is committed to maintaining ethical relationships with suppliers, as part of its wider engagement with promoting sustainable development in all of its activities.