SAP HANA, SAP HANA, SAP HANA. Everyone keeps saying these 2 words, but what are the actual implications of this platform for the chemical industry? This is the second blog in a series where I will explore use cases of SAP HANA in Research and Development in the Chemical Ecosystem. Last week I discussed usage of SAP HANA for scientific research and data analysis. This week I will look at and explore how SAP HANA can help to manage compliance implications.
Everyone working in the chemical industry knows that compliance is, and always will be, a high priority. Depending on the complexity of the chemical, companies could be required to check millions of restrictions to ensure their compliance with REACH, RoHS and many more regulations. Not only do regulations apply for the substances in the product, but they also apply for the countries, end applications and customers that the chemicals go to.
Compliance is an interesting area of discussion. Compared to other topics, Chemical companies can either ensure their compliance and sell products, or not meet compliance regulations and be unable to sell products. Therefore, companies that can successfully complete the compliance check the fastest have the largest competitive advantage. On top of all of that companies need to ensure they are complying with the up-to-date regulations. Regulations are frequently changing and not following the accurate regulation could result in a loss of profit.
With the advancement of technology, in-memory computing and sophisticated compliance algorithms it is now possible to complete these compliance checks in seconds so that during creation of new formulations their chemical compliance can be simulated. This allows companies to ensure global marketability of new or changed products.
Have you used SAP HANA to speed up your compliance checks? Share your stories below.
Check back next week where I will talk about SAP HANA and Product Library.
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