Panasonic’s supplier policy is to award business solely on merit, and whenever practical, on a competitive basis. Panasonic achieves this by working with the supply base to attain the lowest total cost and ensure the procurement of products and services of the highest quality that provide an advantage for Panasonic. The Corporate Procurement organization supports Panasonic’s competitive position by streamlining the supply base and by entering into more strategic supplier relationships with suppliers who meet Panasonic’s high standards.

Some of the criteria we use to evaluate suppliers are:

• High Quality Services and Products
• Customer Focus
• Competitive Pricing
• Insurance Meets Standard Requirements
• Customer References
• Value Added Services/Tools
• Technology
• Dun and Bradstreet reports/Supplier Financials

In addition, where applicable, we require proof of SBA certification (e.g. Small HUBZONE and Small Disadvantaged, etc.).

Panasonic also has standard insurance requirements for our suppliers (see Insurance Requirements); these may vary by products or services, but at a minimum we require:

• $2,000,000 Commercial General Liability/Umbrella Liability (may be provided through combination of primary and umbrella policies) and must include product liability and can not be on a claims made basis.
• $1,000,000 Automobile Liability (If vehicles to be used or on site at PNA locations)
• Workers Compensation Statutory amounts with Employers Liability Insurance in the amount of $500,000.

Panasonic’s Corporate Procurement Professionals are responsible for procuring indirect products and services (non-manufacturing related products) and sourcing activities including Request for Proposal, Request for Proposal, Evaluation and Award.

Our Procurement Professionals will:

• Identify an opportunity with Panasonic team members
• Define objectives and strategies with Panasonic team members
• Develop requirements with Panasonic team members
• Finalize supplier list
• Process RFI/RFP
• Evaluate proposals with Panasonic team members
• Supplier selection with Panasonic team members
• Execute agreement
• Implement the program with Panasonic team members
• Govern the program with Panasonic team members

Panasonic’s Corporate Procurement Professionals also support a Supplier Diversity Program to ensure that maximum opportunity for participation is offered to small and diverse businesses.