The topic of inventory traceability and product recalls never gets stale. Why is that? Because new recalls are happening constantly.
Like other supply chain issues, recalls can impact a company’s brand reputation, their profitability, and ultimately customer satisfaction. But the sum total of those negative implications cannot outweigh the potential cost of one: the value of a human life.
Product recalls can involve the medicines we rely on, the food we eat, the cars we drive, and the products we trust to keep our children safe.
There is no limit to the amount of attention that government entities, vertically-based industry organizations, consumer safety groups, retailers, manufacturers and technology providers should give this issue.
To do its part, JDA provides industry perspectives and solutions aimed at improving inventory visibility and control throughout the extended supply network.
Below are some recent industry insights to help raise awareness for product traceability and what organizations are doing to keep consumers safe and at the same time, keep their supply chains running effectively.
We look forward to hearing from you on how your organization is creating improved product traceability throughout the supply chain, on retailers’ shelves, and in consumers’ hands.
Summary: Videocast discussing FDA rules, best practices in recordkeeping, and technology. Featuring Jeanne Iglesias, senior director, industry affairs & collaboration, GMA, Jennifer McEntire, Ph.D., senior director, food and import safety, Leavitt Partners and Tom Kozenski, vice president, industry strategy, JDA.
Summary: It is estimated that the average cost of a recall to food and consumer product companies is $10 million, in addition to other financial impacts and not including the incalculable human costs associated with some recalls. This article will discuss how automated traceability solutions are crucial for quickly and accurately pinpointing recalled products in the supply chain to promote consumer safety while limiting the size and financial impact of recalls.