Supplier Board of Directors - Terms of Reference

1. Purpose:

The Supplier Board of Directors at Reroko is established to provide guidance, oversight, and strategic direction for the effective functioning of the online supplier and buyer platform. The Board aims to foster collaboration between retailers and top brands, driving innovation and ensuring mutual success. As Reroko is a for-profit business, the Board is dedicated to maximizing shareholder value while maintaining ethical business practices.

2. Composition:

The Supplier Board shall consist of individuals with diverse expertise in the retail and supplier industries. Members may include representatives from top brands, experienced suppliers, and professionals with a strong background in business and innovation. It is emphasized that all positions on the Board are voluntary roles, reflecting a commitment to the success of Reroko beyond financial incentives.

3. Roles and Responsibilities:

  1. Strategic Oversight: Provide strategic guidance and direction for Reroko, aligning with the platform's mission and goals. This includes assessing market trends, competitive landscapes, and long-term business sustainability.
  2. Policy Development: Contribute to the formulation of policies that enhance the efficiency and effectiveness of the supplier and buyer platform, ensuring compliance with relevant laws and regulations.
  3. Risk Management: Assess and manage potential risks associated with supplier relationships, marketplace dynamics, and industry trends. Develop contingency plans to address unforeseen challenges.
  4. Innovation Promotion: Encourage and support initiatives that drive innovation within the platform, ensuring Reroko remains at the forefront of industry advancements and technology integration.

4. Voluntary Positions:

  1. Chairperson: The Chairperson shall preside over board meetings, facilitate discussions, and represent the Supplier Board in liaisons with other stakeholders. This role is voluntary and reflects a commitment to the success of Reroko beyond financial incentives.
  2. Vice-Chairperson: The Vice-Chairperson shall support the Chairperson in their duties and assume responsibilities in their absence. This position is voluntary and underscores the dedication of the Board to the success of Reroko.
  3. Committee Heads: Voluntary positions may be established for members to lead specific committees, such as the Innovation Committee, Policy Committee, or Outreach Committee, based on the evolving needs of the platform.

5. Meetings:

The Supplier Board shall convene regular meetings to discuss strategic matters, review platform performance, and address key challenges. Additional meetings may be called as necessary, and attendance is expected from all Board members given the voluntary nature of their roles.

6. Term Limits:

Voluntary positions on the Supplier Board shall have a term limit of 3 years, with the possibility of reappointment for one additional term. This ensures a regular infusion of fresh perspectives while allowing experienced members to contribute consistently.

7. Code of Conduct:

All members of the Supplier Board shall adhere to a code of conduct that promotes transparency, accountability, and ethical behavior in their roles. This includes managing conflicts of interest and maintaining confidentiality.

8. Amendments:

These terms of reference may be amended by a majority vote of the Supplier Board, with due consideration for the interests of both suppliers and the overall success of Reroko. Any proposed amendments shall be communicated to all board members in advance. Amendments to the terms of reference will be made with a focus on enhancing the effectiveness and sustainability of the platform.

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