Product Recalls in an Evolving Industrial Landscape
Globally, there has been an escalation in product recalls, mainly due to changes in regulations across geographies, and issues arising out of accelerated supply chain expansion and the constant pressure for greater productivity
Recall Management Challenges
- Lack of standard operating procedures (SOP) and communication
- Inadequate product testing
- High dependency on a single supplier
- Growth of software components
- Varied customer preferences
- Relentless growth pursuit
Need for an Effective Recall Management Framework
- Ensures clarity on costs incurred by the customers and the company due to lost sales
- Prevents conflict of interest between the company and customers to help maintain goodwill.
The Key Implementation Enablers
The recommended approach to streamline recall management operations will have the following enablers-
1. Standardizing processes
2. Using technology
3. Ensuring effective change management
The Way Forward
Companies can convert adverse situations into opportunities with a well-structured recall management to reap unexpected benefits like enhanced stakeholder engagement and alignment; increased brand loyalty, reduced operational expenses, and regulatory compliance.
Download the White Paper to understand the forward-looking, proactive approach to recall management that caters to the scale and impact of any recall scenario.