Supply Chain Management
We have a North American Strategic Sourcing Group that is responsible for setting out the overall framework for supplier selection at TD. This group uses a disciplined process for the selection of significant suppliers and provides support and expertise to all TD businesses for their sourcing initiatives, assisting with evaluating, negotiating and structuring supplier arrangements.
Suppliers are screened according to wide-ranging criteria, including their social and environmental responsibility. We consider their supplier privacy and security policies and standards, insurance coverage and ethical standards. TD uses a comprehensive procurement policy that addresses the environmental performance of suppliers and the products we purchase from them. In 2009, we started evaluating suppliers on equal opportunity and non-discrimination policies.
TD also has supplier policies including Outsourcing and External Supplier Risk Management Policies in Canada and a Supplier Risk Management Policy in the U.S. which collectively outline a comprehensive due diligence process for supplier relationships and arrangements, including conflict of interest considerations, technology risks and a supplier’s culture and compatibility with our Guiding Principles, business objectives, strategies and service philosophies.
A Fair and Transparent Process
When conducting our sourcing process, we apply a selection methodology designed to deliver a fair, transparent and defensible process for our supplier community. Suppliers that are not successful are offered the opportunity for a debriefing session so they may better understand the rationale for our decision.
Currently, we do not survey suppliers on their overall satisfaction in doing business with TD; nor do we track or set requirements for spending on local suppliers at our major locations of operation.
$4.3 billion: Total amount spent by TD on goods and services from suppliers across North America in 2009.