Globally, businesses are experiencing the same challenge: they need robust, trusted, accurate product information. Consumers are demanding it, trading partners are requiring it, and governments are mandating it. While meeting consumer and customer demands are certainly a driver for change, regulatory mandates with tangible repercussions for non-compliance push businesses into action.
Organizations all over the world are being driven by local, federal, and global regulations to streamline their product information distribution systems for accuracy and transparency. Its impacting multiple industries; EU1169 in the foodservice and FMCG/CPG industry, UDI in the Healthcare industry, GHS in the DIY/Hardlines industry. Organizations are being compelled to act and in the process of assessing the scope and impact, are seizing the opportunity to achieve additional benefits.
Global organizations are seeing that readying product information for regulatory compliance comes with valuable byproducts. As internal systems are evaluated and streamlined to achieve compliance, additional business benefits are being achieved; supply chains are becoming optimized for efficiency, processes for data quality and accuracy are being implemented, and e-comm initiatives are being powered and supported. Product information is becoming rich, robust, accurate and readily available to customers and consumers alike, and businesses are becoming more efficient, compliant, and transparent.
Mondelez International is a shining example of how readying product information for regulatory compliance can transform systems and enable trusted, transparent product information exchange. Their approach of implementing a single global solution across all markets not only prepared their data for EU1169 compliance, but empowered their business for critical omni-channel initiatives. Read more about how Mondelez International met their regulatory deadline and then some!