6 reasons to expand your team’s regulatory knowledge 

A big problem with compliance is ‘you don’t know what you don’t know’. So, how do you keep pace with new legal obligations about the chemicals you use and the products you put into the market?  

Accessing training and knowledge about chemicals, sustainability and product related regulations to meet requirements is essential for those who make key decisions around product stewardship. To help with this, Enhesa Product Intelligence offers a training and events package in the form of our Professional Development solution.  

With access to major regulatory events including our Regulatory Summit Europe and Regulatory Summit North America, as well as eLearning and on-demand content, an Enhesa Professional Development membership will equip your organization with the specific regulatory knowledge it needs to stay compliant and succeed in rapidly changing markets. 

Six advantages regulatory knowledge gives your business

1. Prevents prosecution and penalties

The financial risks associated with non-compliance are ever-present and can be hugely impactful. Interruptions to business to correct mistakes, product recalls or changes to manufacturing processes have an associated and unforeseen cost. Recalls can cost millions and the reputational damage this causes can tarnish your brand, and, even worse, restrict or prevent your access to the market. 

2. Keeps your pledge of sustainability provable

Greenwashing (the act of making claims about your sustainability as a business which are not true or verifiable) is damaging to reputation and breeds mistrust from customers and industry. Being informed and able to back up claims with specific information makes your reputation robust to independent scrutiny. 

3. Enables timely decision making

Regulations can be frequently updated, which sometimes means additional restrictions on substances, bans of chemicals, new identification methods or legal obligations that change how you make or sell products. When you access the information in good time, you can adapt your strategy for production seamlessly without kneejerk strategizing or stopping the machines on the production line. 

4. Gives your team a detailed understanding of the regulatory world

By attending events in person and online, immersing in regulatory training around your sector’s specific needs and socializing with peers and experts at conferences, your team will know the infrastructure of the regulatory systems and the key people in it. By being part of the regulatory world, the best practices and the rhythm of regulations can be learned in ways that bolster your business prowess as a whole, as well as your competitiveness in the market. 

5. Keeps up with the differences in regulations in different jurisdictions

Regulations around chemical management, product safety and sustainability frequently change and update, around the world. It can therefore be costly and time-consuming to keep up with the complex details about requirements, especially if you do not have a dedicated department or allocated resources to check every relevant jurisdiction. To stay compliant, you’ll need to keep up with current legislation and requirements in different jurisdictions, and more than this, you’ll need to be informed of likely changes in the future.

6. Creates opportunities to innovate products

Regulations can be leveraged for innovation, for example, sustainable chemicals and recyclable materials are attractive for regulators, industry and customers alike. Thoughtfully made products can be good business. By understanding your products’ strengths through regulatory requirements, you can leverage them in your product development, use them in your marketing and make sure that your pledges are checkable and backed up by your deeper knowledge.