Course Description:
After the divestiture of a business from a parent company, the remaining product stewardship function may be challenged by a lack of resources, tools, and sufficient knowledge to manage a portfolio of products. Using examples of divestitures from several different kinds of businesses, this presentation will describe some key hurdles encountered by product stewards and the lessons they learned. Examples of hurdles include loss of access to former corporate resources for product safety and regulatory compliance; loss of institutional memory, such as access to former product stewards; and loss of critical data management tools while still attempting to serve existing customers. Some helpful strategies and tools will be presented to help overcome these hurdles, including analyzing end-use markets, preparing product profiles, enabling more efficient responses to customer inquiries, and implementing vigilance programs, that is, plans for identifying and managing impactful, forward-looking information.
Contact Hours:
0.5 Contact Hours
Presentation Date:
10/18/2022
Presenters:
Gavin Thompson