Poll Reveals Lack of Confidence In Ability To Conduct Rapid Recalls

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Poll Reveals Lack of Confidence In Ability To Conduct Rapid Recalls

Markem-Imaje is a trusted supplier of coding and marking systems around the world. As a provider of laser, thermal and inkjet printing equipment, as well as print and apply labels and traceability solutions, we were quite surprised to learn recently that more than half of senior supply chain executives lacked confidence in their companies' ability to conduct a rapid recall. According to Food Quality News, a study conducted by RedPrairie Corporation found that a full 51.6% of those polled believed that should a recall become necessary, it would take days or weeks to recall products in the beverage, food, life sciences and consumer packaged goods sectors, instead of hours. At Markem-Imaje, we know the devastating impact this could have on a company's reputation and brand trust. In the poll, it was also found that nearly 46% of senior supply chain and operations executives felt that it would be impossible to isolate products that need to be recalled without affecting other lots and products. Supply Chain Strategies for IDC Manufacturing Insights practice director Simon Ellis stated that, "Costing on average $10m, product recalls are understandably any company's worst nightmare." The $10m figure quoted by Ellis does not include the cost of lost sales or brand damage, nor does it reflect the costs a company would sustain as the result of human illness as in the case of food poisoning. In the study, 86% of those polled said that if something were to go wrong in the course of a recall, they would be very concerned about the financial liability to their companies. More than half of those polled in the study stated that they plan to upgrade their traceability capabilities in order to help further automate the recall process in the near future, most within the next 5 years. In recent years, more and more recalls are being issued across many industries. Is your company ready should a recall become necessary? At Markem-Imaje, marking and coding solutions and industrial traceability are our specialties. Around the world, we offer integrated solutions for those in the food, beverage, pharmaceutical, electronics, cable and personal care industries. Interested in a free demo? Call 1.866.263.4644!

January 10, 2014
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