Modern Governance for Bearing Industry

Modern Governance for Bearing Industry One of the biggest challenges currently facing the global ball and roller bearing industry is adapting to an-ever-changing corporate and technological landscape and leaving behind the archaic set of legal requirements that currently govern it. Bearing Industry Code of Conduct (BICC) President, Mr Ian McPherson, said that while the bearing industry has experienced spectacular growth over the past 50 years, there is a need for it to move into the 21st century with the policies, procedures and rules in which it governs itself. ¡°There is a perception within the industry that the BICC is against bearing manufacturers and distributors on certain issues,¡± Mr McPherson said. ¡°Nothing is further from the truth." ¡°We are merely pointing out the fact the industry has undergone massive changes over the years and yet it is still operating within legal requirements that were first implemented 50 years ago.¡± Mr McPherson said in those days bearing manufacturers and distributors were considered lucky if they had the latest technology, a regular supply of raw materials and there were no computers, so customer's orders were by post and telex. ¡°Stock was controlled by hand written stock card systems with the aid of a Slide-rule and a set of Vernier calipers,¡± he said. ¡°There was no talk of counterfeit products, Grey Market, lack of country identification, re-branding or re-labeled stock; nor were there a couple of Asian giants, China and India, competing for a stake in the global marketplace. ¡°It is a simple reality that warrantees, guarantees, franchisees, packaging, labeling, identification, production methods, marketing methods, catalogues, stock, storage, racking are indeed much more sophisticated and could not possibly have been foreseen by those creating these now outdated procedures, polices and legal requirements.¡± The Industry also has government obligations to Occupational Requirements, Consumer and Safety standards, indiscriminate warrantee product protection, corporate transparency and governance, local national and international legal interpretation. ¡°However, the Bearing Industry is still making adjustments on the run without changing fundamentals needed to reform and perform as a unified Industry and keep pace with other 21st century Industries,¡± Mr McPherson said. ¡°It is almost crucial if we are to eliminate illegal activity that has been created by this change to the modern era.¡± Mr McPherson said a Code of Conduct is considered the only form of modern protection against improper behavior and full accountability, auditing & transparency of product, people & corporate control. ¡°The Bearing Industry appears to believe that a Code of Conduct will expose some unseen danger; are frightened that violations to IP will increase; or not wanting controls or regulations to be transparent,¡± he said. ¡°But the same old problem won't go away and, in fact, it will just get worse. We as an industry are not above the rest of the world and should take notice of other industries, from banking through to the food and clothing industries, which have all had a successful Code of Conduct in place for a number of years.¡±