Survive & Thrive
What you can do: Sign up for alerts from the CPSC, said Whitney, and read literature from major testing laboratories. Also, make sure the information is passed down through to all levels of your company.
Spend a little more.
Price point can no longer be a deciding factor in our industry. With tighter specifications that may require the use of more expensive materials as well as increased costs for product screening and testing, suppliers are spending more than ever to remain compliant, Whitney maintained. And because items must be tested each year, it adds up. “I have some item that’s been in my catalog for three years running, by the time it’s the fourth year, I could spend six, seven, eight thousand dollars on it,” Soep said. Unfortunately, these costs must somehow be offset.