L’Oreal talks innovation at PCD
At the forefront of most cosmetics firms’ operations is innovation and staying ahead of the game, and as a trailblazer in the field, L’Oréal is no different.
The make-up maker has a number of tools for evaluating performance of its suppliers to ensure high quality solutions and this also branches out from ingredients for product formulas to packaging.
Anne Alcoloumbre, open innovation packaging director and Elsa Richard, purchasing director at L'Oreal gave an insight into the brand's partnerships with suppliers and open innovation in terms of strategy and contracts at the packaging event this week.
Alcoloumbre stressed that the quality of the relations maintained between the brand and its suppliers contributes to its long-term success.
"L'Oréal does not simply buy its products and the services of its suppliers," she reiterated.
"The group has a deep respect for the companies of its suppliers, their corporate culture, their growth and their employees and thus exercises a particular responsibility in this regard, covering economic, ethical and environmental aspects."
Commitment to innovation
The cosmetic professionals also discussed how the group has defined its policy and undertakings in the form of a worldwide program over the course of several years.
Next up to speak, Elsa Richard explained how the French firm ensures it adheres to its commitments to innovation and sustainability by carrying out regular evaluations on the basis of five key indicators.
"Over 75% of L'Oréal's purchases are made with (local or international) suppliers who have been working with the group for at least 10 years and in some cases for several decades," she outlined.
In all purchasing divisions, Richard says suppliers actively contribute to the economic performance of L'Oréal through their constant research in the fields of quality, safety and competitiveness.
"They play a key role in developing innovative products and services for the future. They are also directly involved in the group's social and environmental responsibility program," she said.
Selection based on five areas of importance
L’Oréal's selection is based on objective criteria, which allows them to meet top international standards.
The five sections outlined are: social and environmental responsibility, innovation, quality, logistics, and competitiveness.
"This is clearly set out in the Ethics Charter of the group and covers relationships characterized by respect, trust and loyalty," Richard concludes.
