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Regulatory intelligence: one of the simplest way to improve your business.

Posted: August 11, 2018 at 1:44 am   /   by   /   comments (0)

G U E S T  A R T I C L E

Regulatory intelligence: one of the simplest way to improve your business.
What is it?
The regulatory environment in which your business operates, regulatory changes and updates are only some of the elements of it.They have important impacts on the conduct of your business to such an extent that you can benefit quickly if they are managed properly and intelligently.Have you thought about it?If so, what do you do to take it into account?If not why?

Here are some thoughts about it:

1- Do you know, in details, the requirements of the countries to which you are exporting to?
2- Do you know who the main competing countries are when exporting to a particular country?
3- Are the export requirements to your country the same as those towards competing countries when exporting to a particular third country?
4- Do you have trained resources on the export requirements of the different countries to which you export?
5- Do the staff of your quality, production, transport/logistics and sales teams meet to discuss export issues?
6- Is your level of regulatory compliance sufficient to avoid major non-compliances?
7- How many major non-compliances do you have each year?
8-What is the most important major non-compliance in terms of costs? or time spent on corrective actions?
9- How much do your corective measures cost per year: in modification, personnel, material, for being late, production stoppage, etc.?
10-What is your strategy for maintaining regulatory compliance and customer requirements? Is there a written game plan or is the objective only to meet the compliance requirements?

If you do not have the answer to these questions, well, regulatory intelligence can make you save a lot of time and money on top of avoiding non-compliances.

How to proceed:

1- First, make a comprehensive review of all the regulatory and customer requirements that apply to your business and its business processes.
2- Identify the elements that, if they are out of compliance, may jeopardize the operations and any business process of the company.
3- Validate that the regulatory and/or clients’ programs in place are able to handle these situations; otherwise bring the necessary corrections.
4- Hold regular meetings with your quality, production, transport/logistics and sales teams to discuss non-compliances, upcoming regulatory changes, their consequences and how to correct or prepare for them ahead of time.
5-Evaluate what your competitors do here and elsewhere.  Can you do the same? or better?
6- Take advantage of international trade data available online to improve your import-export strategy.
7- Compare the bilateral agreements between your country and the countries to which you are exporting to with those agreements between the main competing countries and the countries to which you are also exporting. You could make some interesting discoveries and eventually take advantage of the differences.
8- The rest and more …

 

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About the author:

Martin Michaud

Martin Michaud is an ASQ Member, Member of the Association for Official Analytical Chemists. He is a biochemist, specializing in quality in the agrifood industries. See Mark’s profile at LinkedIn.

Copyright information:

This article has been reproduced here with permission from the author. Title picture is the property of our sponsor Designplex.ca and not associated with the original writing.

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