Purchasers, consumers, regulators, and investors are increasingly focused on how and where products are sourced, developed, manufactured, distributed, used, and disposed, along with a product’s overall impacts at each life cycle stage.
This focus on product stewardship has intensified due to demand from consumers for greater supply chain transparency and safer, ‘greener’ products. It is also driven by a growing array of environmental, health, safety and, sustainability (EHSS) regulations (existing and pending product regulations increased from 2,000 to 12,000 globally between 2003 and 2016).
Merely complying with regulations and consumer expectations is not enough. Organizations must prove effective product stewardship to key stakeholders in order to both safeguard reputation and use superior product stewardship as a competitive advantage. While providing such proof can be costly and complex - especially for organizations with global supply chains - doing so is in their long term best interest.
Strategic and operational advice
ERM’s approach to product stewardship not only seeks ways to avoid product impoundment or recall, which can disrupt supply chains, increase costs and damage brand and reputation. It also aims to identify and mitigate these risks while looking beyond them to assess key product and brand differentiators that have the potential to drive innovation, and contribute to the bottom line.
ERM’s global network of scientists, regulatory experts, and consultants:
- Optimize business systems and tools and provide a systematic approach to managing EHSS data related to raw materials, intermediates and products across the entire value chain;
- Enable compliance with global regulations to facilitate new market entry, increase speed to market, and reduce product impoundment and recall;
- Manage product registrations and authorizations, including the management of consortia;
- Provide support for mergers and acquisitions through post-merger integration;
- Assess the sustainability performance of products and services in order to support eco-design and business to business (B2B) and business to consumer (B2C) interactions, including identifying market differentiators that offer a competitive advantage;
- Help design and adapt information systems to meet our clients’ needs;
- Support companies to build and improve their internal product stewardship programs; and
- Provide product stewardship services on behalf of clients.
Creating market opportunities
A properly executed product stewardship program supports product compliance, mitigates risk, and builds competitive advantage by creating market opportunity throughout the product life cycle.