Responsible Supply Chain Management
As a significant player in the local steel industry, we believe in building a sustainable and ethical supply chain that ensures the continuous supply of goods without interruption while upholding our Environment, Social, and Governance aspects. We have encouraged our supply chain to implement a responsible and sustainable approach to conducting their business. Moreover, we continue to support the local market, where most of our suppliers are local, with 84.0% and only 16.0% being overseas suppliers.
In FY2022, we implemented the ESG assessment for all our suppliers and contractors as part of our supplier due diligence process. In addition, we are committed to reducing the environmental footprint in our steel manufacturing. Thus, we require all our suppliers and contractors to undergo a screening assessment before signing a contract with Masteel. This is to ensure that all our suppliers and contractors comply with Masteel’s requirements. The screening assessment involves five (5) criteria, as stated below.
A score of 0-4 is allocated for each criterion which is then totaled to obtain the overall score or rating. If a supplier scores lower than 12 points, we will notify the supplier of the rating outcome and request immediate corrective action. In the event of five consecutive scores of lower than 12 points, we will deregister the supplier from our Approved Supplier List unless a specific concession is given. We strictly ensure our Approved Supplier List consistently demonstrates a high quality of service and products. Moreover, when we are selecting new suppliers, those who had been deregistering from our list will be given lower priority.
At Masteel, we value our customer’s feedback by conducting customer satisfaction surveys annually in accordance with ISO 9001:2015 (Quality Management) to ensure we deliver the best possible products and services. This survey will enable Masteel to gauge and understand our customers’ impressions and feedback on our products and services. We are proud to disclose that overall, our customers are very satisfied with our products and services, where we scored a 92.5% for customer satisfaction in FY2022. We continuously improve our manufacturing operations and services to deliver the best products.
In addition, we provide our customers a platform to lodge a complaint and feedback for our continual quality improvement. Our customers can submit a formal complaint to us via email or through messaging application to our sales representatives. As we have in our policy, we will be sure to respond to the complaint within at least one working day. During this reporting period, we have not received any complaints.
Masteel always ensures we manufacture top-quality products to meet our customer’s expectations. We have implemented a strict and comprehensive internal quality management system (“QMS”) guided by our Quality Manual and Standard Operation Procedure. In addition, our manufacturing operation is certified by ISO 9001:2015 and SIRIM, specifically under MS 146:2014. This certified that our products meet the local industrial standard for high-tensile steel bars. Hence, we assure our customers’ confidence in using our steel bars for the infrastructure and construction industry.