|
by Beth Stackpole, Contributing Editor   | Abstract: | What will government regulators think of next? Manufacturers not only have to run harder to keep up with all the new regulations, but they're also finding that compliance has become a never ending business process. Do you have the stamina to keep up? |
There's Sarbanes Oxley (SOX), RoHS-WEEE, ITAR and FDA 21 CFR Part 11, just to name a few. As the list of acronyms surrounding regulatory compliance swells, manufacturers are struggling to get their financial and operational houses in order. Yet to keep efforts moving forward, companies are finding they have to make compliance part of the routine of conducting business, not just take it on as a series of projects crossed off the to-do list. It's a two-part equation -- one piece organizational, the other technological. From an organizational perspective, experts advise building an enterprise compliance framework, complete with repeatable processes and ongoing metrics and accompanied by initiatives to link the compliance program to corporate strategy. From a technological standpoint, companies can look to retrofit existing applications with new business processes and workflows to address some of what's required along with considering fully integrated applications built from the ground up to facilitate compliance. "Compliance is an ongoing process and not an endless set of tactical programs that are going to be done quarterly or annually," said John Hagerty, vice president of research for AMR Research Inc. (Boston), during a recent webcast conducted by Managing Automation magazine. MA's "Corporate Governance Series," a three-part discussion on regulatory compliance and corporate governance, is aimed at helping manufacturers navigate the still-murky terrain. "Making compliance repeatable, making it sustainable, and making it cost effective are going to be the three key initiatives that will allow you to breathe easier and sleep better at night," Hagerty said. [Click to continue] |