Lotte Confectionery Strengthens Win-Win Support for Mutual Growth with Partners

[Asia Economy Reporter Eunmo Koo] Lotte Confectionery announced on the 17th that it will revamp and strengthen its support system for partner companies to promote mutual growth.

Through continuous communication with its partners, Lotte Confectionery selected four major categories (raw material procurement and operational stabilization, quality and equipment stabilization, performance sharing, and management support) and established detailed support measures. To this end, it plans to create a dedicated department for win-win cooperation and form consultative bodies with related departments such as purchasing, supply chain management (SCM), and marketing, operating them as communication channels for regular support and information sharing related to mutual growth.

First, to support procurement and price stabilization, the company decided to expand the scope of the consignment procurement system to include domestic raw materials. The consignment procurement system refers to the bulk purchase of raw materials necessary for manufacturing goods, which are then supplied to partner companies. Additionally, through regular inspections and technical support visits to partner companies, it aims to improve their quality and technical capabilities, and annually selects outstanding partners to provide interest-free management funds. Furthermore, customized education programs will be conducted to help partners respond to major annual issues such as ESG (Environmental, Social, and Governance) and the Serious Accidents Punishment Act, along with welfare services including legal consultation and funeral support.

Lotte Confectionery plans to continue its ongoing mutual growth activities by realizing the value of win-win cooperation with its partners.

This content was produced with the assistance of AI translation services.