Supplier Advisory Council (SAC)

The Barrick Supplier Advisory Council is a new concept to the mining industry but has a proven track record in the electronics, aerospace and automobile industries as a means for helping a company such as Barrick become the “most preferred customer in the mining industry.”

We have 16 of our key suppliers acting as a “Board of Directors” for our Supply Chain Management (SCM) process. Executive management from these 16 suppliers represents Barrick’s core technologies as well as other SCM aspects such as indirect goods and services.

The tenure of the appointment is three years and requires attendance at two meetings per year, usually in October and April. Our first meeting was held in September 2004 in coordination with the MINExpo, with breakout sessions utilized to discuss specific issues that our supply base faces in working with Barrick. We have conducted four more meetings since then and have covered a variety of topics including safety best practices; material availability; strategic alliances and local supplier development.

One of the keys to the success of this Council is that every member, supplier or Barrick, is able to take away key ideas or strategies that can be utilized at their location. The intent is that the sharing of information is truly a two way path for both Barrick and its key suppliers.