46 / 143
44 • GOVERNANCE AND MANAGEMENT
PANDORA ANNUAL REPORT 2016
RESPONSIBLE BUSINESS PRACTICES
AND TRANSPARENCY
Description
The design, sourcing, crafting and distribution
of our quality products rely on our ability to
maintain and develop responsible business
practices throughout our value chain.
At PANDORA, we rely on our ability
to provide internal and external clarity and
transparency about our ethical aspirations,
performance and results.
Risk
Therefore the risk for PANDORA implies
non-conformity with our Code of Ethics and
external regulatory requirements.
Actions taken
• As a leading member of the Responsible
Jewellery Council (RJC), PANDORA works
closely with peers, independent experts and
NGOs to create shared value by identifying
generic risks within the jewellery supply
chain, set auditable standards to counter
these risks and finally to inspire the entire
jewellery supply chain to commit to
responsible business practices
• Risks in our own supply chain are handled
through PANDORA’s Responsible Supplier
Programme focusing on training, dialogue,
audits and continuous improvements
• Internally, responsible business practices
are governed through PANDORA’s Code
of Ethics, supported by group-wide staff
training and our Ethics Hotline
• Stipulating our commitment to minimise
our environmental footprint, our new
crafting facility in Lamphun is LEED
(Leadership in Energy and Environmental
Design) certified
• Increased transparency and consumer-
oriented communication
For more information on PANDORA’s ethical
aspirations, efforts and results please refer to
the chapter on corporate responsibility.
CRAFTING AND SUPPLY CHAIN
Description
PANDORA designs, produces, distributes
and sells affordable jewellery globally.
Consequently, we are highly dependent on a
stable and reliable supply chain to guarantee
product supply. To provide this, we are
dependent on:
• supply of raw materials from our suppliers
• availability of our crafting facilities in Thailand
• availability of our four global distribution
centres
• availability of our global IT infrastructure
There are a number of events that may affect
the stability of our supply chain and stable
product supply, including but not limited to:
• loss of suppliers
• disasters at physical IT infrastructure sites
or at production sites or distribution centres
• geopolitical unrest
Risk
Therefore the risk for PANDORA implies
a potential disruption within our sourcing,
manufacturing and/or distribution activities.
Actions taken
• PANDORA purchasing policy
• Supplier audit programme
• Second manufacturing site in Lamphun,
near Chiang Mai, Thailand
• Business continuity planning, management
and test programme
• PANDORA security manual
• Internal reviews of security and safety at
distribution centres
• Emergency response plans on flooding of
Gemopolis area in Thailand
• PANDORA Internal Control Framework (ICF)