Responsible Manufacturer Benchmark - Far East Summit

By CommonShare

Far East Summit, a leading company in the industry, is renowned for its focus on Chinese classics and traditional medicine. With a primary business focus on providing a wide range of products related to Li Shizhen's BEN CAO GANG MU, Far East Summit offers customers a unique opportunity to delve into the rich history and knowledge of Chinese herbal medicine. The company's dedication to preserving and promoting these ancient texts sets them apart in the market, making them a go-to source for enthusiasts and practitioners alike.

Far East Summit has established a strong industry position and market presence through its commitment to quality, authenticity, and customer satisfaction. Their core products, including Chinese classics and herbal remedies, have garnered widespread acclaim for their efficacy and reliability. Notable achievements include their 2024 Conference Schedule, which features an Advocacy Day on Capitol Hill in Washington DC, showcasing their dedication to advocacy and education in the field of traditional Chinese medicine.

Founded on the principles of preserving and sharing the wisdom of ancient Chinese texts, Far East Summit upholds a mission to provide authentic, high-quality products that contribute to the well-being of their customers. With a geographic presence that extends to various regions, the company's leadership approach emphasizes transparency, integrity, and a strong commitment to ethical business practices. Looking ahead, Far East Summit's strategic direction is focused on continued growth, innovation, and expanding their reach to serve a broader audience of individuals interested in Chinese medicine and culture.

Overall Rating

1.0

Under-Performing

Traceability

An increasingly important factor in global supply chains, traceability assesses the manufacturer's capability to track products and materials from origin to delivery. The Sustainable Manufacturers Benchmark® explores this through the lens of tiered supplier verification, culminating in end-to-end traceability with real-time monitoring and complete transparency.

Digitized Products

The digital landscape has transformed B2B interactions. This facet assesses the extent to which manufacturers have digitized their product offerings. The spectrum ranges from manufacturers without any online product catalog to those boasting advanced B2B e-commerce platforms, providing clients with order customization, real-time tracking, and an integrated view of the supply chain.

Preferred Materials

This aspect gauges the extent to which manufacturers incorporate sustainable, circular, and regenerative materials in their supply chain. It assesses whether companies merely use standard materials or whether they actively prioritize sustainable and preferred materials in their product range, even going so far as to offer digital verification of material certificates.

Facility Verification and Services

This dimension evaluates the openness and commitment of manufacturers regarding their facility's conditions and services. It covers a spectrum, from providing no facility details at all to showcasing comprehensive third-party audits, ensuring transparency in worker welfare and showcasing a clear commitment to maintaining top-tier facility services.

Readiness to Contract

Before entering a partnership, it's pivotal to understand a manufacturer's business legitimacy. The Sustainable Manufacturers Benchmark® checks for the presence and verification of essential documents, ranging from basic business licenses to comprehensive documentation, client testimonials, and even third-party attestations that verify a manufacturer's reliability and readiness to contract.

Far East Summit

United States

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How our Responsible Manufacturer Benchmark® Works?

By CommonShare

The Responsible Manufacturer Benchmark is a comprehensive framework designed to evaluate and rate manufacturers based on their commitment to sustainability, digital integration, readiness for contracting, material sourcing, and facility standards. It provides a clear, standardized metric for assessing manufacturers in a B2B environment, helping businesses make informed decisions aligned with their sustainability objectives. The benchmark covers crucial areas like end-to-end traceability, the digital verification of supply tiers, utilization of preferred materials, and verified social audits for facilities. By incorporating both depth and granularity across its criteria, the benchmark not only promotes transparency but also encourages continuous improvement in responsible manufacturing practices.