SDG Alignment
Managing product safety is key for companies as it can impact financial prospects, as well as trust amongst consumers, suppliers, and investors. Product safety breaches are described by the US Consumer Product Safety Commission (CPSC)2 as the unreasonable risk of injuries and deaths associated with consumer products. Healthcare and pharmaceuticals companies are especially vulnerable to product safety issues. Failure to undertake adequate testing for drugs and medical equipment can lead to recalls, which not only have an economic impact but also reputational ramifications. In the most extreme cases, the products can lead to the injury and death of customers –
which may result in litigation.
