Limit recall impacts
Our recall tools give you speed and savings when you notify customers
Food Standards Australia reports that there were 72 food recalls in 2016 (81 in 2015, 76 in 2014).
The rise in the number of recalls is well above the average number of 61 recalls per year for the past 10 years.
Undeclared allergens and microbiological contamination are the leading causes, with foreign matter and bio-toxins also being significant reasons.
Dairy, peanut and wheat/gluten issues are the cause of over 61% of food recalls for undeclared allergens in 2016.
Two things are important when you are managing a recall:
Being able to take prompt action may prevent any additional damage or injury. The speed and effectiveness of your response may be an important to market perceptions and limiting brand damage.
If necessary, it may even be crucial in your legal defence. While it is impossible to escape all pain, having solid data to identify, locate, and contact your affected customers is a great asset.
We have them built – just in case!
The TBSx3 platform includes tools that reach into the blockchain records to find the information you need to help manage your recall response.
A mismanaged recall can become a crisis that affects a company’s reputation and significantly increase the financial cost.
A 2004 study by the University of Melbourne estimated the average cost of a corporate crisis is around $10m.
They also found around a quarter of recalls costing over $100m.
More grim, is the finding that around a quarter of companies that have a recall crisis won’t survive.