We have come a pretty long way since we’ve hunted our dinner with crossbows and scavenged leaves and berries from the forests. In the 21st century, modern civilization is running global food and product supply chains that make markets independent from seasonal and regional restraints.
Hunting now happens around shelves in local supermarkets, chasing this evening’s dinner or just some food to go. But at what price do we pay for this convenience?
European Commission and US Authorities are introducing new legislation to create product transparency in order to stop consumer confusion. What’s good for consumers is that, this looks like it will be one of the biggest challenges for the consumer goods industry in the 21st Century. By demanding detailed product information such as a full list of food ingredients and regulating health claims, EU’s 1169/2011 Food Information Regulation (FIR) is setting global standards for consumers’ to know more about their products. It will also create a greater awareness for the impact of regulations on data availability for the consumer goods industry.
Bearing in mind that data availability is closely linked with product marketability and an increased risk of being fined in case of incomplete or false product information, regulations are a driving force for companies all around the globe to take a closer look at their data quality and product compliance strategy.
The result is quite disillusioning. If data is available, it is stored in different sources, can be incomplete, of bad quality, or not existent at all. It is known that one or the brand owner is currently having sleepless nights on how to solve these tasks. How do I get the information from my suppliers and how can I manage my supply chain in order to be compliant and transparent? Which tools and services can help to support my process of capturing and distributing data and how can I organize this in the most effective way at the lowest possible cost?
Take a closer look at the health care industry. Here, regulatory compliance was always a vital issue to get products on the market. Regulatory Affairs departments identify multiple regulations and engineer ways on how to comply in order to go-to-market as fast as possible. Health care products, food, as well as some consumer products all have many things in common, notably having a great influence on us and our children’s health.
Taking into credit all these similarities, it is the right time to ramp up regulatory compliance departments for companies in the consumer goods industry.
Reason enough for 1WorldSync to position a brand new division for Regulatory and Sustainability (RSM) compliance data management. Already supporting various companies on behalf of their hazardous substance management and dangerous goods processes with expert services, 1WorldSync RSM is now enhancing services to monitor relevant legislative issues. This provides support to enable companies to be pro-active on a global level by keeping up with regulatory demands in Europe and the U.S.
Whether it’s EU food labeling for genetically modified organisms or safer consumer products in California, regulatory compliance needs to keep the finger on the pulse. If you want to know more… stay tuned on this channel.