What is defined as a product that has been classified as hazardous by regulations, resulting in penalties for non-compliance?

The definition of hazardous material encompasses products that pose a risk to health, safety, or the environment and are classified as such by regulations. Such classification mandates strict compliance with various safety and handling protocols. Non-compliance with these regulations can lead to significant penalties, including fines or legal actions.

Recognizing a substance as hazardous material is crucial within logistics and supply chain management, as it affects how these materials are stored, transported, and handled. Proper training and protocols must be in place to ensure safety and compliance, protecting workers and the environment.

The other options do not align with the definition provided in the question. For example, a hazmat employee refers to personnel who are trained to handle hazardous materials, but they do not constitute the category itself. Inventory turnover relates to the efficiency of managing stock and product flow but does not pertain to hazardous status. An import quota is a trade regulation that sets limits on the quantity of a certain product that can be imported, and does not refer to the classification of a product as hazardous.