Industry Regulations: Dietary Supplements Embrace That Red Tape

This post about industry regulations was written by Robert Pochadt, Director of Sales for InstantGMP

“Things done well and with care exempt themselves from fear”

William Shakespeare

 

There’s
a friend you have that I bet you didn’t know existed as such. That
friend is all but invisible, embedded in orderly coded texts that lack
the endearing wit and narrative of the quoted author; it is a friend
that reveals a valuable presence only to those who take the effort to
understand just why it should exist in the first place.

I’m talking about industry regulations.

Not those hard to interpret, intimidating, intrusive, voluminous edicts from our charged bureaucrats, you say?

There
are always extreme examples, but the bottom line is this; they protect.
And protection is needed. Rules, guidelines, and the like are necessary
to ensure that safety is maximized when people put food on their plate
or take medicine for an illness. Like any designed product, regulations
sometimes stop short of best possible effectiveness at a given moment;
and while they are not ethically malleable, they are (and should remain)
amendable, to keep up with the pace of change in the industries they
intend to regulate, as well as doing a better job themselves.

It
turns out that this friend is also a savvy business partner too. Knowing
and following the regulations of your industry well not only keeps
costly (in every sense) risks in check, but also quietly generates a
complimentary, compliant business strategy backbone with solid economic
grounding. And you win political capital everywhere your company name
shows for “doing the right thing”. But no one in a regulated industry is
alone in facing mandates, and there is a whole catalog of capabilities
at one’s disposal ready to decipher them and make them more commercially
digestible. Your bull by the horns instinct will be well rewarded.

I’m
often seeing this played out right now, wrong and right. I’ve had
exhaustive conversations with many who have been publicly cited for
deficiencies, sometimes repeatedly, only to hear that even reasonable
remedies are not economic to them. And on the other hand, I have had
equally long discussions around industry compliance—what is really is,
what it means, and how to get there—from those who care, even from some
who are not yet mandated but do not wish to be left behind as regulatory
scrutiny increases.

Guess which of the groups I see in continuous business expansion mode?

The
choice is yours. There will always be corner cutters, some of whom will
see different the second time around. They will then likely have to
catch up to those who did it right the first time. It’s all business………
and the regulatory costs of doing it right can prove to be most
strategic investments as well.

Leave a Reply

Your email address will not be published. Required fields are marked *