New Supplier Selection Process Osculati’s selection of new suppliers follows a strict procedure. Firstly, a request is made for an offer to consider price competitiveness. If the offers are in line with the company’s targets, an on-site meeting is arranged for Italian suppliers or a video call is carried out in the case of EU and non-EU suppliers. A further assessment is carried out during the trade fairs. For Asian suppliers, Osculati carries ou t an annual ins p ec tion in C h ina to assess th e reliability and suitability of the factories. T h e main c riteria inc l u d e p ric e, ec onom ic s ound nes s , rel iab il ity and res p ec t f or h um an righ ts . Environmental and social elements O sc u l ati al so tak es environm ental and s oc ial as p ec ts into seriou s c onsid eration w h en s el ec ting and eval uating s up p l iers . I n th e case of s teel and teak , th e c omp any req u ires certifications that they are sourced from areas that respect environmental sustainability, ensure respect for human rights and are not involved in conflicts. These criteria ensure that the materials used are not only of high quality, but also produced eth ic al l y and su stainab l y . I n c onc l u sion, O sc u l ati’ s u p stream su p p l y c h ain is carefully managed and monitored to ensure th at su p p l iers meet th e c omp any ’ s stand ard s in terms of price, quality, reliability and comply with environmental and social regulations. This attention to d etail enab l es O sc u l ati to maintain a leading position in the marine accessories market, offering high quality and sustainability-conscious p rod u c ts. Ongoing supplier evaluation procedures O nc e inc l ud ed in th e s up p l ier l is t, th e c om p anies c onc erned are m onitored c ons tantl y . O sc u l ati c h ec k s c omp l ianc e w ith agreed delivery times, the quality of the products and packaging, the punctuality of communication and responsiveness to emergencies and any non-conformities. Price competitiveness is also continuously monitored by means of market researc h , to ensu re su p p l iers c ontinu e to meet th e c omp any ’ s stand ard s. 29
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