Procurement at Munich Re
As a globally operating organisation, Munich Re procures many different goods and services throughout the world. By purchasing at best total value in terms of quality, time and cost, while ensuring compliance at all times, the procurement functions throughout the Group seek to deliver a substantial and lasting contribution to the success of Munich Re.
At all locations and along the entire value chain, our procurement activities are shaped by a deep sense of corporate responsibility. Environmental, social and governance (ESG) criteria are at the heart of our approach, and we expect our suppliers to meet them as well.
Our Procurement Principles
Adherence to the UN Global Compact
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Procurement at Munich Re - Reinsurance
Overall responsibility
Central Procurement, the central purchasing division of Munich Re, is responsible for the acquisition of all goods and services for the reinsurance group.
Its overarching strategic functions include demand management, category management, supplier management, contract management and ensuring compliant ordering practices (key concepts: risk minimisation, compliance, anti-fraud).
Our vision
E-Procurement at Munich Re
To ensure efficient and transparent procurement management processes for our employees and suppliers, Munich Re has implemented Coupa's e-procurement solution in its procurement process. The cloud-based purchasing tool digitizes the entire ordering process, from catalog maintenance to requisitioning, approval, ordering and invoicing. There are various options for collaboration based on your company's individual requirements.
Learn more here:
