Video transcript is available to read below
My name is Andrew Douglass and I've spent more than 20 years working in chemicals and consumer goods innovation. I'm proud to be launching a Veeva series on consumer products R&D and their mission to deliver superior products.
Let me give you a preview of what you can expect from me and my team over the coming months. The primary measure of any Chief R&D officer's success is the consistent delivery of superior products to market within a budget constraint. These superior products fuel top and bottom line growth and any disruptions erode company value and confidence.
The drive and motivation for this series is the European Green Deal. This new policy poses an existential threat to the CPG R&D leader and their organization and let me tell you why I believe that. I was in the chemical industry in the early 2000s when reach was implemented, the impacts were transformational and not just the billion dollars or billions of dollars in regulatory costs that were very hard to pass along to customers, but also the entire chemical innovation model was disrupted.
The change in R&D operating model from one of chemistry creation to chemistry adaptation was painful and littered with many project failures and many project delays. I see strong parallels for consumer products R&D leaders.
The EU Green Deal will have deep systemic impacts that most leaders are not prepared for and here are just two examples. First, digital product passports and EPR requirements will require a level of product transparency and data management that almost no company has today.
Secondly, to design for sustainability and support every green claim with certification, product development and marketing teams will need to integrate compliance expertise and data much earlier into the development process.
This will be a complete change in operating model over the coming months, Veeva's team of consumer product industry experts will explore what drives today's R&D leader, how they can hone and maximize their superior product engine, and how they can make the choices that will ensure that the EU Green Deal is their competitive advantage.
You won't want to miss these best practices tailored for today's consumer product R&D leader.
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