Product risk

Product risk refers to the potential for a product to cause harm, malfunction, or fail to meet intended standards, impacting user safety, regulatory compliance, and business reputation. Managing product risk is essential, especially in highly regulated industries like Life Sciences and Manufacturing, where failure to address potential hazards can lead to serious consequences, including recalls, legal liabilities, and lost consumer trust. Effective product risk management involves identifying, assessing, and mitigating risks throughout the product lifecycle, from design and development to production and post-market. By proactively managing product risk, companies ensure product quality, enhance user safety, and maintain compliance with industry regulations.

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