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.

1. THE STATE OF THE RECALL,
BY THE NUMBERS.
How today’s manufacturers look at product safety and recalls,
and how consumers react.

2. More than 1/2 of executives are concerned about their
ability to isolate items in their supply chain.

3. Coordinating a recall is a concern for 70% of executives.

4. Only 51% of organizations are able to execute a recall
within hours.
The other 48% can do it in days or weeks.

5. Less than 20% have traceability solutions to help automate
the tracking and recall processes.

6. 46% say their companies are struggling to stay compliant
with regulations.

7. Almost 1/3 of executives were most concerned that their
inability to trace items would have a negative impact on their
company.

8. 86% of executives are worried about their financial liability
if something goes wrong with a recall.

9. The average cost of conducting a recall is
$10 MILLION

10. 93%
On the flip side, of consumers think how a company
handles a recall shows their thoughts on customer safety.

11. 87% of consumers are more likely to buy from companies
that manage recalls “honestly and openly.”

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, Shreya
Chakravarty, Brandon Hopkins