Within today’s global, highly dynamic environment natural resources are getting scarce and environmental pollution becomes more and more an issue. In response to this governmental institutions release a vast amount of restrictions, targeting at reducing the impact of products or product related emissions towards people and the environment. The legislation around REACH compliance is just one example which requires Chemical companies as well as their downstream business partners to register all substances they are importing, handling or selling in Europe, considering certain quantity thresholds as well as looking into applications and exposure scenarios.Product compliance requirements cannot be viewed as “siloed initiatives” as they typically span across a variety of business processes including i.e. communication up and downstream the supply chain. Moreover, it is also important to look beyond just being compliant and move towards Product Stewardship which means embedding aspects like carbon footprint, recycling or “cradle to cradle” concepts (working up waste products for reuse as starting materials) into the initial development of new and innovative products.In order to manage the rising tide of regulatory requirements on one hand side and to pave the way for a long term, sustainable approach towards Product Development Chemical companies need to take a holistic view upon Product Compliancy, Safety and Stewardship to secure long term profitability along with a competitive advantage and minimize the risk of penalties and damaged brand reputation from non conformance with legislation.
Read the following Industry Thought Leadership paper and see how SAP can help you to address the Product Compliance, Safety and Stewardship challenges which lie ahead of you.