Product inspection technology helps to prevent product recalls
This white paper explores the topic of recall prevention from the following perspectives:
- The financial impact of product recalls
- Reducing legal liability by following industry standards
- Implementing best practices before they become requirements
- Gaining a competitive advantage
- Choosing the best technology for your application
Adopting industry best practices is a key step in establishing an effective recall prevention program, but best practice can often be improved through the use of new technologies. Companies willing to move beyond existing best practices gain not only reduced legal risk, but also an advantage over their competitors.
Download this informative white paper to learn more.
As manufacturers in every industry continue to find ways to improve efficiency and reduce product waste, recall prevention continues to be a significant area of interest. Product recalls can cause enormous damage to a company's reputation, and the costs of such a recall can be so great as to cause a company to fold entirely. It is in the best interest of manufacturers to ensure their recall prevention plans are doing everything they can to avoid the issues that lead to a product recall.
The Cost of Product Recalls
There are plenty of arguments in favor of recall prevention, but the financial impact on the company that a recall takes is the most arresting. The complete financial impact of a product recall has been estimated as more than $30 million. Beyond the cost of direct damage, there are also costs related to lost sales – pulling recalled products off the shelf means consumers cannot buy the product until replacements arrive – as well as the intangible damage that is done to the brand's reputation.
In spite of this, recalls remain a growing problem in the food industry. This is part of the reason why so many food manufacturers are becoming more interested in moving beyond mere regulatory compliance and into something more comprehensive when it comes to recall prevention.