5 Ways to Optimize Food Manufacturing Product Removals
Don’t miss FoodLogiQ’s upcoming live demo on how manufacturers can optimize product removals, and reduce times and costs associated with withdrawals.
Product removals, withdrawals and recalls continue to rise in number across the industry. And with them, so are technology-driven preventive methods, preparatory measures and risk mitigation strategies. As ARC Advisory Group writes, “Most companies are making targeted investments to both improve their internal controls to reduce the risk of product recalls and improve their ability to recall products, when necessary.”
As a food manufacturer or distributor, it’s crucial to develop strategies that enable you to respond to product removal events with immediacy, cost-effectiveness and ease. This is especially important considering the average cost of a recall to a food company is $10 million in direct costs, not including brand damage and lost sales.
In addition, consumers expect food companies to resolve recalls in less time than ever. A recent FoodLogiQ report found that two thirds of consumers expect recalls to be resolved in a matter of days – with nearly 80% of consumers indicating that they would avoid use, switch to a competitor or cease to give a company their business if a brand is affected by a recall or contamination leading to consumer sickness.
Join FoodLogiQ for a live demo on Wednesday, February 24th at 2 pm to learn five key strategies for successfully executing product removals in minimal time and maximized savings.
Date: Wednesday, February 24th, 2021
Time: 2 PM ET / 11 AM PT
Topics to be discussed:
Strategies for executing product removals in minimal time
How to automate internal and external communication around product removal events Preparatory methods that mitigate risk and reduce cost How to utilize data to drive collaboration and gain visibility
Ways to leverage new Recall + Response functionality to effectively and efficiently remove product across your supply chain
Can't make it for the live demo? Fill out the form to get a copy of the presentation after airing.