Responsible Sourcing and Supply Chain
Our global network of suppliers plays a vital role in manufacturing, delivering, and servicing our products. Our supply chain strategies are focused on building a resilient and sustainable network of strong supply chain partners who align with our high standards for ethics, compliance, and product quality.
SOURCING WITH A PURPOSE
Our goal is to source with a purpose and identify suppliers that align with our expectations around quality, delivery, cost, ethics, and compliance. We take a balanced approach between in-region and for-region sourcing to provide agility and flexibility within our supply chain. Our approach focuses on supply chain security and mitigating potential disruptions by sourcing materials and components within close geographical proximity to our operations and customer locations. Sourcing locally not only improves our supply chain resilience, but also has the potential to minimize our overall carbon footprint by reducing transportation distances for our raw materials, components, and finished goods.
SUPPLY CHAIN GOVERNANCE
We continuously monitor our supply chain for risks and opportunities in order to refine our strategy, drive compliance, and mitigate risk.
IDEX’s global supply chain function is led by our Vice President of Strategic Sourcing. Due to the unique sourcing requirements of our individual operating companies, each of our businesses has dedicated supply chain and procurement teams that work in close collaboration with our corporate team. Supply chain leadership meets together in global town halls on at least a quarterly basis to discuss supply chain strategy, risks, and opportunities.
SUPPLIER CODE OF CONDUCT
All IDEX suppliers are expected to comply with the Supplier Code of Conduct, which outlines clear expectations for ethical conduct, legal compliance, environmental responsibility, and the prohibition of forced labor, child labor, and human trafficking. The Supplier Code is available in eleven languages and is regularly reviewed to uphold the highest ethical standards.
Suppliers receive the Supplier Code during onboarding, and those operating in higher-risk regions must certify their compliance. High-risk suppliers, identified by factors such as location and commodity type, undergo enhanced monitoring through audits and surveys.
To reinforce accountability, employees involved in supplier selection and management undergo annual training.
DEX conducts both in-person and remote audits to assess supplier compliance with the Supplier Code of Conduct and to mitigate potential risks. Audit results help shape corrective action plans, and suppliers that fail to meet expectations without making necessary improvements are removed from our network.
To address human trafficking and forced labor risks, IDEX conducts supplier audits and trains employees to recognize potential red flags. We monitor our compliance with modern slavery and forced labor regulations in the countries where we do business.
Conflict Minerals & Responsible Sourcing
IDEX is committed to responsible sourcing, and we collaborate with suppliers to assess and mitigate the risks associated with conflict minerals—tin, tantalum, tungsten, and gold (3TG)—within our supply chain. Our conflict minerals team, comprising representatives from our businesses and corporate teams, oversees compliance with the Securities and Exchange Commission’s Conflict Minerals reporting requirements under our Conflict Minerals Policy.
Our due diligence program aligns with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, and we expect suppliers to fully cooperate with our compliance efforts. Suppliers are encouraged to source 3TG minerals from Responsible Minerals Assurance Process (RMAP) verified smelters and refiners and to implement their own policies and management systems for conflict minerals compliance.
To enhance transparency, IDEX conducts “reasonable country of origin inquiries” (RCOI) surveys to trace the origins of 3TG minerals in our supply chain. We also provide training and smelter information to suppliers as needed. If a supplier refuses to support our conflict minerals compliance program, we may take corrective action, including seeking alternative sourcing options. For further details, see our Conflict Minerals Policy and our most recent Conflict Minerals Report.
