The Business Case for Product Stewardship in One Book
Leading professionals in product stewardship contributed to Realizing the Full Business Value of Product Stewardship, published recently by The Product Stewardship Society. This new book makes the case that product stewardship programs contribute more business value than companies realize.
“Product stewardship professionals should take credit for the value they add and carry that message to management. We have an excellent story to tell.” says Allan Fleeger, global product stewardship manager at ExxonMobil and the book’s chief editor.
In 13 chapters, readers discover the business case for robust product stewardship programs. Time after time, product stewards impact an organization’s success in direct and indirect ways. After reading the book, professionals will better understand how they support an organization’s business objectives, says Fleeger.
Take regulatory compliance, for example. Because it’s required, executives may not fully understand the potential impacts related to regulatory compliance (e.g., beyond potential penalties). That mindset overlooks the relationship between compliance and market access, for instance. When products are noncompliant, shipments are delayed, orders go unfilled and revenue takes a hit.
The same is true for new product development. When product stewards get involved in R&D early on, they mitigate risk by ensuring design requirements are in line with regulations and that the products are safe for their intended use. The earlier issues are identified will facilitate a “go / no-go” decision which may mitigate any potential unacceptable risks,” says Fleeger.
Overall, the book is filled with examples and suggestions for product stewards who want to improve their programs and communication with management. One chapter focuses on capturing relevant metrics, so that product stewards have data to prove their value. “It’s going to give readers a lot of ideas for things they should be doing to demonstrate their value,” says Fleeger.
Table of Contents for Realizing the Full Business Value of Product Stewardship:
Chapter 1: Introduction
Chapter 2: Product Stewardship Competencies & Effectiveness
Chapter 3: Product Stewardship Function
Chapter 4: Product Stewardship and Business Interface
Chapter 5: Product Safety
Chapter 6: Risk Management and Product Stewardship
Chapter 7: Product and Customer Support
Chapter 8: Issue Response
Chapter 9: Measuring the Performance and Business Value of Product Stewardship
Chapter 10: Advocacy
Chapter 11: Legal Considerations Relating to Tort and Product Liability Law
Chapter 12: Corporate Reputation
Chapter 13: Competitive Advantage