Over the past decade, growth in complexity and geographic applicability of the product stewardship regulatory environment has increased dramatically and is expected to keep increasing over the coming years. REACH-inspired/modeled substance inventory law updates represent a major challenge to the expanding compliance program burden for product stewardship functions in globally operating companies. Challenges include:
- How to manage compliance with local regulations, enforced by local government agencies in a global operations context.
- How to manage global compliance program milestones, driven by local implementation timelines in a cost effective way.
- How to avoid disrupting day-to-day business operations while ensuring compliance and avoiding penalties/fines.
For manufacturing companies, the need for a well structured/streamlined product portfolio management process has never been bigger. They need to consider:
- How to keep time to market short while ensuring all required (local) regulatory compliance checks are done.
- How to facilitate/support interaction and collaboration between the different business functions while ensuring an auditable stage-gating processes: Sales, Product Managers, Production Manager, Research & Development, Product Stewardship, Planning and Master Data Administrators.
- How to communicate/disseminate new product implications on local operations and logistics after final product release for production and sales.
Accenture's industry experts are helping companies address these challenges, using its expertise in product lifecycle management and product stewardship by providing leading-practice process, support tool selection and implementation experience.