Product Recalls and Traceability in North America
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The above infographic discusses product traceability, the effect product recalls have within an industry and the importance of lot tracking as a business.
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Product Recalls and Traceability in North America
- 1. DOWNLOAD WHITEPAPER Formoreinformationon traceability 93% 87% Percentageof consumerswhoare morelikelyto purchasefrom companiesthat managerecalls “honestlyand“honestlyand responsibly”. Percentageof consumerswho believerecall handlingindicatedhandlingindicated whetheracompany caresmoreabout pro tsorcustomer safety. Theaveragecostofarecallto foodandconsumerproduct companiesinadditionto branddamageandlostsales. CostofRecalls $10million PercentageoffoodfacilitiessurveyedthatdidnotmeetFDA’s requirementstomaintainrecordsabouttheirsources,recipientsand transporters. 59% 54.3% 45.7% Percentageof executiveswhowould beabletorecalla specicitem/lot withoutimpacting otheritems/lots. Financialcostwas recognizedasbeingthe greatestriskassociated withtheinabilitytotrack itemsalongthe supplychain. 18% consumerliability 12.5% increased government oversight 11.7% lossof marketshare 24.2% brandrecognition 28.1% within48hours daysorweeks Morethanhalfof executivessurveyedsaidit wouldtakethem longer than48hoursto executearecall. ManagingTraceability Farmers Manufacturers Distributors Suppliers Vendors Allmembersofthesupplychain! Whoisresponsibleformanagingproducttraceability? IntheUSA over20 millionpeoplehave takenadrugthathas eventuallybeen recalled. Canada USA Essentiallyany industryyoucan thinkof! Let’stakealookattheFoodandPharma/MedicalIndustry Thenumberofrecalls inCanadahasincreased everyyearforthepast severalyears.Health Canadaexpectsthat therateofincrease willlikelyremainmore orlessthesame.orlessthesame. Butwhatindustriesareaffectedbyrecalls? Thatamountstoabout6.5recallsaday. ProductRecalls Sowhatdoes product traceability havetodowithit? Didyouknow.... contaminatedfoods costtheUSeconomy nearly $7billion annually!? Therewasatotal of2,363recalls acrossall industriesinthe USin2011. Producttraceabilityreferstothecapabilityfor trackinggoodsalongthedistributionchainona batch/lotnumberorseriesnumberbasis. Traceabilityhelpscompanieseffectivelydealwith productrecalls(suchascontaminatedfoods)ina multitudeofindustries.