Regulatory and compliance professionals frequently receive requests from marketing and sales teams regarding the feasibility and legality of selling a product in foreign markets.
Almost every regulatory professional can attest to this: marketing and sales teams seek answers to the following two key questions:1) Can we sell this product in another country?
2) Can you get us the answer?
Oftentimes, regulatory professionals must conduct compliance assessments necessary to answer these questions. This happens manually by cherry-picking through endless online databases to determine the compliance of an existing product in a new country, and it’s easy to overlook the minutia of foreign regulatory legislation, which could result in a major headache down the road.
The regulatory experts at Selerant recommend manufacturers perform compliance assessments often and early in the product development lifecycle to avoid unforeseen headaches.
The Selerant Compliance Cloud
Using a regulatory database that spans hundreds of countries, the Selerant Compliance Cloud (SCC) allows regulatory compliance and product development teams to perform fast and accurate go/no-go assessments for their formula-based products.
As food and beverage, cosmetic and chemical manufacturers continue to expand into foreign markets, a tool like the SCC can expedite and exponentially grow these efforts to push proven formulations to new markets faster and safer.
The SCC offers a quick solution to the cherry-picking approach by taking the grunt work out of the compliance research. The SCC user simply enters the food additive concentration and product type from the recipe and the system returns a go/no-go assessment.
This automated process not only saves regulatory compliance teams time, but it also saves the manufacturer innovation and product development dollars by avoiding unnecessary reformulation.
If reformulation is necessary, first ask these questions:
- “Is it cost effective to modify the product’s formula to be able to sell it in new markets?”
- “Will changing the characteristics of the product profile challenge the integrity of the product’s performance?”
- “Will these changes align with the desired brand image of the manufacturer?”
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What’s in it for product developers?
Similarly, during the initial formulation process, product developers can also use the SCC to run a quick assessment to determine if product is eligible to be sold in foreign markets. Based on the results of a go/no-go assessment, product developers will know exactly which modifications to make to the existing formula in order to successfully sell the product in the desired market.
The information gleaned from the SCC go/no-go assessments is not only crucial to regulatory compliance and product development teams, but it also can help bridge the gap between these teams and marketing and sales. The instant go/no-go output supports quicker decision making and can help a company and its core products achieve their goals to establish a truly global presence.