Setco values the contributions of its suppliers in the growth of the business over the years. Their sustained support has led to their recognition as "Partners in Progress.
Over time, we have successfully managed and strengthened our supplier relationships, understanding that these relationships directly impact the company’s financial performance and profitability. Suppliers influence product development costs, inventory levels, and manufacturing schedules through the timely supply of goods and services. Market trends, such as increased global competition and shorter product life cycles, have encouraged Setco to foster improved relationships with its suppliers. This collaboration helps reduce costs associated with materials, as Setco and its suppliers work continuously to lower the Total Cost of Ownership for procured goods. An integrated and well-connected supply chain has enabled Setco to lower material costs, maintaining competitiveness in both domestic and overseas markets.
Setco recognizes that suppliers’ long-term financial and operational contributions are critical to impacting the top and bottom lines. Our approach and relationship with suppliers are significant to our business success.
We also believe in sharing our business processes with suppliers. When suppliers are viewed merely as commodity providers, they are often not given an opportunity to understand the details of the business or its future vision. However, our "Partners in Progress" are encouraged to become knowledgeable about the company, its processes, products, and goals, fostering a long and mutually beneficial relationship.
