Global product companies like yours must comply with an ever-increasing number of complex regulations and customer requirements. Adding to this challenge is your growing network of suppliers, rapidly evolving product designs and shrinking delivery timeframes. To make effective decisions that reduce risk and ensure compliance, you need clear visibility to regulatory requirements and rich information about your company and supplier part data early in the development process. However, time-consuming manual processes and disparate systems that house critical product data limit visibility and prevent analysis, making it even harder to identify and resolve compliance issues before they become costly problems.
An inability to assess and report product compliance with regulations can lead to delayed product introductions, recalls, market exclusions, government fines and lost sales. The cost of compliance failures is high and can heavily impact your brand, market and revenue opportunities.
By implementing a new solution, APC by Schneider Electric
was able to transform its costly and manual process of collecting and providing compliance data from suppliers. This new enterprise approach enabled the company to: Reduce the cost of compliance by 80%; ensure 6,000 products comply with RoHS, REACH and other environmental regulations; reduce product compliance reporting from weeks to minutes; and reduce the cost of data collection and management by $2M.
A systematic, enterprise-wide approach for acquiring company and supplier data and managing numerous regulatory obligations and customer requirements gives you the ability to efficiently and consistently meet compliance goals. With early, real-time visibility into product compliance metrics, you can reduce the cost and effort required to ensure compliance, eliminate expensive late-cycle changes and improve time-to-market through streamlined processes. By proactively avoiding these risks, you can protect both your brand reputation and revenue.
Process Improvement Opportunities
The most successful companies streamline regulatory compliance by transforming one or more of these key processes: