Procurement to strengthen our position

To improve profitability and thereby increasing the amount our public foundation owner can donate to academic research each year, and to maintain an appropriate cost level for our members, Medicon Village Fastighet has, over the past few years, worked intensively to strengthen its procurement function.

By optimising purchasing, negotiating agreements and coordinating our procurement, we reduce costs across the organisation, with a direct impact on our competitiveness and risk exposure. Strategic procurement enables us to respond more quickly to market changes and strengthen our position through improved supplier relationships. In total, we work with approximately 250 suppliers, with formal procurement agreements in place with around 100 of them.

We have developed a new procurement policy and process, and updated our Supplier Code of Conduct. Over the past year, 20 suppliers signed our Code of Conduct as part of procurement processes or renegotiated agreements. This forms an important part of our contribution to the global sustainability goals, particularly in terms of economic sustainability.

It is essential that we work with suppliers who act responsibly and uphold our standards. To support this, we have taken further steps:

• We conduct annual on-site supplier audits. Last year, we carried out two audits, and this year we plan to conduct three more.
• Every other year, we carry out a comprehensive supplier review to ensure that our suppliers meet key requirements, such as fulfilling tax obligations, employer contributions and other financial responsibilities.

These efforts form an important part of our work to ensure economic sustainability and responsible business practices.

If you have any questions about supplier changes or our procurement activities more generally, you are welcome to contact mats.wessman@mediconvillage.se.