Managing regulatory affairs within an agribusiness company is of paramount importance for maintaining regulatory compliance. This is also essential to the proper functioning of the company by contributing, among other things, to minimizing wasted time and avoiding non-conformities of several types.
The gains and advantages of good management of regulatory affairs are of multiple types, including:
1- Minimize and avoid labeling errors
2- Avoid mobilizing staff to solve problems rather than working on continuous improvement
3- Avoid stopping operations temporarily or permanently
4- Avoid food withdrawals or recalls
5- Avoid repeating the same mistakes
6- Avoid financial penalties
7- Improving the efficiency of certain processes
8- Ensure better fluidity of import-export operations
9- Guarantee the safety and wholesomeness of products
10- And the list is long, very long...
Regulatory management therefore benefits from being set up as a Regulatory Intelligence Strategy which consists, among other things, of:
1- A strategic watch on the laws and regulations that apply to the company
2- Active participation in consultations with the regulatory authority
3- Active participation in pilot projects conducted by the regulatory authority to validate new approaches
4- Keep up to date on import-export regulatory requirements relevant to business operations
5- A strategic watch on standards, benchmarks or other requirements that are relevant to the company
6- Maintain good relations with representatives of the regulatory authority
7- Participate in meetings, workshops and other events organized by or in collaboration with the regulatory authority
8- To not hesitate to go see what is happening elsewhere from a regulatory point of view and in the application of acts/laws and regulations, especially in other countries when the opportunity arises
9- Follow and/or participate in the activities of CODEX ALIMENTARIUS committees because many of these standards and codes of practice now have, or will soon have, power of law in our country
10- Any other activity that can help you learn more about the regulatory aspects relevant to your business
11- Participate in ongoing training offered on the acts/laws, regulations and other applicable provisions relevant to your business
12- Keep up to date technologically and be able to use the multiple interfaces and online services offered by the regulatory authority and/or your customers and suppliers in order to improve the the processing of your requests as well as to guarantee the rapid update of your compliance and eligibility files and obligations
All this allows you to operate more smoothly, without interruption, maximizing everyone's productivity, avoiding unpleasant surprises and above all improving the profitability of your business since you will be more in control and on the lookout for new requirements, how to interpret them and aware of the changes that are on the horizon in terms of regulatory requirements.
The efficiency and performance of a company will therefore be greatly improved thanks to the implementation of a Regulatory Intelligence Strategy.
How to improve all this even more? By also implementing a Commercial Intelligence Strategy.
Commercial interests are at the heart of any company's concerns and the agri-food sector is no exception; for sure. This is why it is essential to put in place a Commercial Intelligence Strategy aligned with the objectives of your company.
How? Or What to do? Here are some important elements to consider when implementing a good Business Intelligence Strategy:
1- See what your main competitors are doing and how they are doing it
2- Examine the import-export data relevant to your business in the different markets
3- Stay on the lookout for your customers' requirements and discuss their expectations with them
4- Discuss with your suppliers and ask them about new trends in raw materials and their potential applications for your business
5- Work together with your suppliers and customers to develop your products, improve them, etc.
6- Keep up to date with IT resources, software and applications that can facilitate and speed up work, make exchanges more fluid, make communications faster, improve the efficiency of real-time data sharing/exchanges, etc.
7- Participate and encourage and participation in training relevant to you and your company's staff
8- Take advantage of the initiatives and resources available abroad (see example in References 2 below)
9- Set up and/or improve a system for monitoring your yield, JIT%, efficacy, fill-rate, ROI, etc.: in dollars, in resource efficiency, etc. All this by establishing realistic and stimulating performance indicators directly related to what you do in order to make it concrete and achievable/workable
10- Also evaluate the cost of your regulatory compliance programs as well as your quality programs and customer requirements
11- Evaluate the overall efficiency, i.e. all it costs to achieve all this and achieve your objectives: in dollars, in time, in HR, in equipment, in the regulatory program, in the quality program, etc.
12- Promote certification and development programs officially recognized by official organizations for your employees. The satisfaction, assurance and confidence that your staff will gain from it will be reflected in their involvement, their energy at work and their efficiency.
This is only the beginning. The important thing is to start and, above all, to combine Regulatory and Commercial Intelligence together and alongside. The two go hand in hand and they will propel you to new heights; for sure.
Are you ready? Want to go even further?
Do not hesitate to contact us
514-913-2685
References:
2- IFST Food Safety Guide for Directors, Institute of Food Science and Technology, 2022
3- Key performance indicators, BDC: https://www.bdc.ca/fr/articles-outils/operations/efficacite-operationnelle/irc-indicateurs-rendement-cles?utm_campaign=LN--OE--A--068&utm_medium=email&utm_source=Eloqua&elqcst=272&elqcsid=14027