Reduce Risks:
Loss of image
Questions about product safety, the sustainability of products and compliance with legal regulations have been the focus of many consumers for some time now.
Consumers today are very well informed and social media in particular can spread negative news in a matter of seconds. Information about unsafe products, product recalls or even injuries to consumers can quickly go viral and thus increase the initial damage enormously.
Risks associated with purchased products
This factor is particularly important for companies with strong brand names that also offer peripheral product ranges in addition to their core products, which are often manufactured in-house. These products are often purchased from external suppliers but sold under their own brand name in order to offer consumers and retailers a broader range and thus expand their brand.
Particular care must be taken here to ensure that the purchased products also meet all legal requirements, even if their sales volumes are often significantly lower. Otherwise, non-compliant products from the eripheral areas of the product range and their public attention can quickly have a negative impact on the image of the entire brand.
Loss of image among business partners
However, potential reputational damage not only affects the end consumer, but also the company's trading partners, distributors or investors. For example, trading partners or distributors may turn to other suppliers whom they trust more in the areas of product compliance, quality management and sustainability.
A lack of compliance may also indicate that the company is lax in other legal and regulatory areas such as financial transparency and accounting compliance. This can have a negative impact on investors and lenders and may increase financing costs.
Solution approaches from trinasco
The loss of image described above can only be avoided if companies give product compliance management a certain priority and try to prevent product compliance deficiencies. Particular attention should be paid to products that can cause serious injury (electrical products, toys, personal protective equipment) and products that come into contact with food or skin.
The public also has a particular focus on environmental risks caused by products and chemical substances that are considered particularly dangerous and are therefore banned in numerous products (e.g. toys or cosmetics). We are happy to support you with our training courses, workshops and process consulting.
