Brand protection tops business concerns, according to new Aberdeen report
Companies producing food, pharmaceuticals, consumer products, and medical devices are extremely concerned about protecting their brand, trademark and business reputation in the face of evolving regulatory requirements, according to a new study by the Aberdeen Group. Brand damage from any safety-related product recall has significant impact on an organization, creating an obstacle it may not be able to overcome, says Aberdeen. ³The Regulatory Compliance and Product Safety Mandates Benchmark Report² found that in response to regulatory compliance pressures, companies are going on the offensive to exceed regulatory requirements and product safety mandates. Initiatives to mitigate the risks of product defect, contamination and exposure topped the list of measures that would enable an organization to overcome these external challenges.
These efforts make companies better able to respond to new regulatory initiatives and convert compliance burdens into improved efficiencies. Aberdeen research indicates that resource-consuming regulatory issues compel companies to embed compliance processes into their supply chain and manufacturing operations; best-in-class companies enable end-to-end supply chain traceability to strategically address product safety mandates and compliance pressures; and market leaders collaborate with customers, trading partners and regulatory agencies.
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