What is Product Regulatory Compliance?



hi in today's video we're going to dive into the fundamentals of product compliance let's say your company wants to build a widget a widget can be essentially any product when companies build widgets they assemble their parts list and other important information on a bill of materials or a bomb bombs can be highly detailed and include material composition information supplier names and contact info and a host of other details companies listed on the bomb represent the first-tier suppliers in a much larger supply chain but more on that later once you've designed your product it's time to start building it well not so fast first you need to consider the host of regulations that dictate what substances can be in your product and other ethical sourcing regulations that affect your parts and supply chain for example if you want to sell you a product into the EU the reach regulation says if you have certain substances in your product over a set weight by weight threshold you have to go through a formal application process to use those substances some substances are banned outright and reach is just one of many materials regulations that exist there are other ethical sourcing regulations that regulate certain materials for example if you are a public company in the USA and use tin gold tungsten or tantalum in your products you must comply with the dodd-frank 15:02 Conflict Minerals regulation complying with dodd-frank means surveying your supply chain down to the smelter level to make sure your materials aren't coming from illegal mines in the Congo and surrounding countries so you see for any given product you need to know what materials are in it where they come from and even who is producing them you also need to know about anti human trafficking and modern slavery regulations and ensure those elements including forced and child labor are not utilized in your supply chain ok so now you found out what materials your product is going to be made of it's compliant to the reach regulation you've investigated where the materials are sourced from to comply with the conflict minerals sourcing regulations and you also ensure no one in the supply chain is using forced labor so you're good to sell your product right Wow there's more the factory that is producing your product needs to be inspected you need to make sure working conditions are safe the products adhere to safety standards and you are being shipped the right parts components or products that you ordered from that factory this is the inspection audits and safety side of compliance now we could go further when it comes to sustainable development some consumers might want to know how much carbon was produced when you made that widget or how much wastewater resulted from the production of a unit you also have industry specific regulations to deal with for instance if you're selling electronic with a radio like a cell phone you need to comply with regulations surrounding broadcasting frequencies you are selling toys there are separate regulations around materials and safety you're selling furniture there are fire safety regulations that apply and the list goes on through every sector we won't get into sustainable design or interview specific regulations today but for now it's enough to know these regulations exist and could have a significant impact on the production and distribution of your product that's a lot to manage for a simple widget let's recap when you build a product you need to know what materials it's made of and ensure none of those materials are restricted in the markets you intend to sell them next you need to ensure that the materials you are using are sourced ethically to comply with regulations around conflict minerals sourcing and anti human trafficking then you need to make sure that the product is safe and the factory is being produced that is a safe and ethical environment so there you have it a top level overview of the product compliance landscape and that's where a scent fits it the entire process can be managed with a solution like the ascend compliance platform if you have any questions about compliance and where your company fits in contact our regulatory experts at info at asset compliance comm we look forward to hearing from you

2 Comments

  1. oh shit this guy is smoking.

  2. Great video

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