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The State of the Recall, By the Numbers

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A new study by RedPrairie provides 10 interesting figures on recalls today and how companies approach them, as well as how consumers react to recalls.

Published in: Business, News & Politics
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The State of the Recall, By the Numbers

  1. 1. THE STATE OF THE RECALL, BY THE NUMBERS.How today’s manufacturers look at product safety and recalls, and how consumers react.
  2. 2. More than 1/2 of executives are concerned about their ability to isolate items in their supply chain.
  3. 3. Coordinating a recall is a concern for 70% of executives.
  4. 4. Only 51% of organizations are able to execute a recall within hours. The other 48% can do it in days or weeks.
  5. 5. Less than 20% have traceability solutions to help automate the tracking and recall processes.
  6. 6. 46% say their companies are struggling to stay compliant with regulations.
  7. 7. Almost 1/3 of executives were most concerned that theirinability to trace items would have a negative impact on their company.
  8. 8. 86% of executives are worried about their financial liability if something goes wrong with a recall.
  9. 9. The average cost of conducting a recall is $10 MILLION
  10. 10. 93%On the flip side, of consumers think how a company handles a recall shows their thoughts on customer safety.
  11. 11. 87% of consumers are more likely to buy from companies that manage recalls “honestly and openly.”
  12. 12. WANT TO SEE MORE ON RECALLS? Visit our Blog Via RedPrairie, which surveyed supply chain and operations executives at “close to” 130 companies.Images by: Randall Barriga, P.J. Onori, Øystein W. Arbo, Friedrich Santana, Connie Shu, Roger Cook, Don Shanosky, Sylvain Amatoury, ShreyaChakravarty, Brandon Hopkins

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