Product recalls are probably one of the biggest nightmares for a business. Not only does it mean lost revenue but it can have a severe impact on a business’ reputation, can affect the sale of other products while the recall is happening, and it generally means a whole load of headaches for everyone involved.
We’ll take you through how with the right inventory software product recalls can be more streamlined. Of course there are a lot of things you can do to make sure this never happens to you, but at the same time you need to prepare for every scenario.
Track products from start to finish
With the right inventory management software you will able to track your products from the minute they are created or enter your warehouse through to when the end customer takes them home. And, if your products rely on several parts coming together then you will also be able to track all the individual parts as well.
Having this visibility across your entire production process and supply chain means that if product recalls are needed then you will be able to see exactly where each product has ended up and where each part has been used. Having everything recalled quickly will be paramount, and this visibility will enable this.
Track by lot and batch
On the back of being able to track your products, if you have the right inventory software you will also be able to track everything by lot or batch. While this may seem overly pedantic or over the top for some, if a product recall is required it will mean a lot less interruption on your business. This means you will be able to contact the exact vendors or customers that received those batches and help to eliminate the issue as quickly as possible.
By being able to track by specific lot you will only have to recall the exact products that have been deemed dangerous instead of having to recall a large amount, ie everything that was made on the same day. This will greatly reduce the impact on your bottom line, as you will only be losing revenue on the specific ineffective products and you will also spend less money and time dealing with the recall if it is a larger amount of products.
Eliminate long-winded paper trails
A huge factor to deal with if you need to recall a product is finding the information you need as quickly as possible. By keeping track of your inventory, products or shipments through paper you will be spending endless hours searching and finding the much-needed information. Instead, you should be spending this precious time dealing with issue at hand. Having everything done through inventory software and also through the cloud means you can access that information at a click of a button and you can deal with the issue wherever you are. This will include vendor, distributor and customer contact details, meaning getting in touch with everyone who needs to be throughout the entire recall will be much more efficient.
Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.