Obsolescence can cripple processes and even businesses if it is not controlled and managed effectively. As we approach the REACH (Registration, Evaluation, Authorisation of Chemicals) 2020 deadline, the risk of obsolescence increases. Has your business taken the necessary steps to protect sustainability and secure future supplies and mitigate business risks?
Obsolescence usually occurs due to suppliers taking their products of the market. Other reasons may include adapting the product in some way which renders it useless to certain processes.
Having a firm understanding of Obsolescence and REACH and adopting a systematic management approach will allow companies to proactively identify the “at risk” materials. Materials can include spare parts, chemicals, software & hardware, and even bespoke processes.
Legislation such as REACH has and will further increase the risk of obsolescence as suppliers decide how to remove products off the market due to registration costs.
Visit http://www.hse.gov.uk/reach/ for more information on REACH.
If you require support in regards to managing your obsolescence risks and REACH compliance, then why not drop us an email and see how we can support you!