Chemical Policy Development: A Recipe for Managing Restricted Substances Throughout the Full Product Lifecycle 

Restricted Substances Full Product Lifecycle

How does your organization manage restricted substances? Do you currently have a governance, risk management and compliance (GRC) network or chemical policy in place? Do you know which elements are considered essential as part of a plan to ensure consistent compliance?

A GRC Network is an interconnected set of processes, rules, tools and systems to adopt, implement, manage and monitor integrated, organizational programs. This achieves safety and compliance throughout the product lifecycle and up and down the supply chain. Many senior risk and compliance managers rely on this type of managed approach.

At the recent virtual Engage’20 Regulatory Compliance Forum and User Conference, Kami Blake, Sr. Customer Success Expert at Verisk 3E, discussed the importance of developing a GRC Network and chemical policy and how to take an approach which focuses on processes and policy. She outlined which considerations should be made to ensure intelligent compliance across the product lifecycle, … Read more...

Digital Twins Accelerate Sustainability

Does your organization care about sustainability? If so, leveraging digital twin technology can help you surge ahead to meet your future goals.
A digital twin is a software-based replica of a physical asset. Although the concept is now associated with the Industrial Internet of Things (IIoT), the earliest digital twins were designed to make product lifecycle management easier. Instead of investing time and effort into the laborious process of building and evaluating new product features, you can explore the impacts of product features, characteristics, and material selection virtually. (Tao et al., 2018)

These new digital capabilities can have huge impacts on sustainability. Exploring new aspects of products without building prototypes directly reduces material waste, and it’s faster, easier and cheaper to test out more options in software as well. For example, modern Computer Aided Design (CAD) software provides what-if analysis that lets you determine full lifecycle costs, from creation to … Read more...