Full Description
Product recalls affect thousands of products globally each year, impacting millions of customers and causing severe consequences for companies. For instance, Takata's airbag recall cost $25 billion and led to bankruptcy. Similarly, a viral video showing a Kryptonite bike lock easily broken damaged customer trust significantly.
Effective recall management is crucial. It involves addressing supply chain, production, legal, and customer relationship aspects, with marketing playing a key role. A well-managed recall limits company damage and protects customers, while also considering investors, regulatory agencies, policymakers, and the public.
This book offers guidance on developing a recall strategy, communicating safety risks, and restoring trust post-crisis. It provides detailed recommendations for recall management across different phases, with insights into consumer goods, food, and automotive sectors, and shows the broader impact of product defects.
This book is a practical toolkit for managers, backed by current research and real-world case studies, ensuring effective navigation through product recalls.
Contents
1. The imperative of product recall management.- 2. Characteristics of product recalls.- 3. Performance implications of product recalls.- 4. The roles of different stakeholder groups.- 5. The product recall management cycle.- 6. Industry differences.- 7. Spillover effect.-8. Conclusion: Top10 key takeaways and outlook on future challenges.
