Product safety standards, consumer expectations, import/export restrictions and requirements place demands on producers to meet rising standards and to reduce associated liability. How do you respond if you have just moved manufacturing from Munich to Jakarta, or you are exporting from Mumbai to California for the first time?
We have all witnessed the flurry of worldwide attention focused on dangerous or defective products running the gamut from pet food and children’s toys, to pharmaceuticals and automobile tires. Considering the millions of products on the market, the number affected may not seem overly worrisome. However, if it was YOUR product – or perhaps simply a component your company provided for a finished product - the numbers could be devastating.
The same holds true for products that fall victim to malicious product tampering or accidental contamination. The cost of a recall can be crippling to a business when factoring in the initial recall, related business interruption, business rehabilitation and consulting and legal fees. Consumer trust in your product is invaluable and regaining that trust following a negative product safety event is often the greatest hurdle a business can face.
At Global Loss Prevention we acknowledge that product protection requires a life-cycle approach. By leveraging the advice of our experts or accessing training and system support from our “Product Protection” client website you can construct protection strategies consisting of:
- Design for safety reviews
- Quality control
- Supply chain integrity
- Product recall plans and traceability
- Protection against malicious tampering
- Product liability audits and reviews
- Compliance to international product standards
- Labeling (failure to warn) requirements
- Risk Benchmarking