EDE, The Netherlands, May 20, 2015 /PRNewswire/ --
A growing number of retail organizations with wide product ranges, is earning additional income by selling products that meet European regulatory requirements. For these companies, Quality Control (QC) has become a revenue generator instead of it being regarded as a costly investment.
Detail - How does it work?
Retailers who purchase products that meet the legal requirements receive a reward of € 4 euro per product. If they wish to qualify for this cash back, they need to indicate in their purchasing conditions that their supplier must provide a technical file* through the ProductIP Platform. Naturally there are costs linked to this service, but retailers break even quickly at 3,000 technical files. For stores and retailers that offer between 5,000 and 100,000 products, that would be an attractive bonus allowing them to increase focus on product compliance throughout the value chain.
Why is this relevant and actual?
Last year, the European authorities have acted 5,200 times in order to prevent unsafe, non-compliant products, to enter the European market. These are shockingly low numbers in relation to the total imported volume in 2014. An example of the severity of the situation is the fact that annually, more than 17,000 doctor visits take place in the Netherlands as a result of non- compliant cosmetics.
In an attempt to change this situation within the retail supply chain, ProductIP introduces a new financial incentive for companies to start selling products that meet the requirements. The Dutch company wants to contribute to safer and more sustainable products in the European market.
ProductIP is the international web platform that enables organizations within the retail supply chain to demonstrate that their products meet European legislation. ProductIP provides a web-based solution that enables quick and easy access to a complete list of applicable legal requirements for products. It also enables the implementation of a process (as described in ISO 19600) to create technical files and collect, share and manage documents as evidence for product compliance. Even though founded in 2008, already more than 7,500 users work with the ProductIP Platform and more than 100,000 technical files have been made with a trade value of over 15 billion euros.
* A technical file is a collection of documents demonstrating that the product meets the legal requirements.