REGULATION
ranging from chemicals to medical devices. Leading global cosmetics seller Mary Kay, for example, uses the Kallik Veraciti™ platform and capabilities such as the ‘Where Used’ functionality that enables businesses to locate any asset that contains a given characteristic across all product lines, making it easier to track and manage global assets affected by industry changes or evolving business requirements. By moving away from legacy methods of asset management, and towards management solutions with the ability to capture and manage all labelling and artwork in a single platform, businesses can better get to grips with the global picture of their product lines and operations, unlocking the agility and resilience needed to respond to business disruptions such as regulatory change.
The price of inactivity is high – act now… The challenges brought by non-compliant cosmetics operations are not simply a ‘cost of doing business’ – they can be wide-ranging and cause significant damage. This could range from product recalls and regulator investigations, freezes on selling products into certain markets and even long-term damage to brand confidence – something businesses should look to avoid, especially after two long years of serious market disruption. A solution which provides end-to-end support, management and visibility of product labelling, artwork, and regulatory compliance across all departments, can underpin employee innovation and expertise – keeping brands innovative, agile, and compliant. With the market being more competitive than ever before, the risk of being overtaken in the race for innovation is too great to be taken lightly.
…and reap the benefits across the value chain The benefits of digitisation do not stop at compliance. They extend throughout
cosmetics firm operations, adding greater accuracy, consistency, and agility to every step of the business value chain. Artwork and label digitisation assists with the wider business processes in cosmetics, such as new product development that involve numerous stakeholders, by creating a unified data repository across the entire business value chain. Therefore, it is important to deploy advanced automation technology that supports and aligns with the dynamic brand strategies within the cosmetics industry, providing a ‘single source of truth’ for business operations.
Realising the full potential of end- to-end digital operations The need for the cosmetics industry to react quickly to market change highlights the importance of realising the full potential of what technology can do for businesses from both a regulatory compliance viewpoint, and from a production stance. The need to deploy technology in order to
adapt with continuous EU regulation change has never been more integral and with failure to comply risking heavy fines and falling behind the market, it could cost more than you think. By acting now, cosmetics firms can establish truly end-to-end digital operations for managing all global assets in a single, secure cloud-based repository, offering compliance, consistency, and reliability. This also removes the risk of future product updates and developments, which not only cost financially but also cost in terms of time- to-market and competitiveness.
References 1. Statista. Consumption value of cosmetics and
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personal care in Europe from 2012 to 2021. June 2022.
https://www.statista.com/ statistics/439551/european-cosmetics-market- value/
2. Cosmetics Europe. Understanding The Cosmetics Regulation. https://cosmeticseurope. eu/cosmetics-industry/understanding- cosmetics-regulation/
3. European Commission. EU chemicals strategy for sustainability – Cosmetic Products Regulation.
https://ec.europa.eu/ info/law/better-regulation/have-your-say/ initiatives/13197-EU-chemicals-strategy-for- sustainability-Cosmetic-Products-Regulation- revision-_en
PC
4. Veeva. Regulatory Management Trends Report.
https://www.industries.veeva.com/resources/ regulatory-trends-report
5. KPMG. Digital acceleration. https://home. kpmg/us/en/home/insights/2020/09/digital-
acceleration.html
www.personalcaremagazine.com
January 2023 PERSONAL CARE
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