This month we observed World Food Safety Day. This year’s theme of “Food safety, everyone’s business” is particularly relevant as approximately 650 products including food-related items are recalled in Australia every year, but only about half of them are returned to the retailer. In October last year, the ACCC reported that there were about 1.7 million recalled products still in Australian homes. (more…)
What do exploding phones, automobile exhaust emission problems, and food and drug contamination have in common? They embroiled the companies that made and distributed them in a complex and costly product recall process. The impact of recalls Product recalls are one of the biggest risks that manufacturers and distributors have to face. According to the insurance industry the average cost of product recall claims is over [...]
There seems to be quite a lot of confusion around Cycle Counting vs. Stocktaking. So, before we discuss the importance of Cycle Counting, we will need to understand WHAT Cycle Counting is, and What Cycle Counting is NOT: What is a Cycle Count? Traditional inventory audits or stock takes, involve counting all of the stock that the organization has on a particular date. Typically this is [...]
The current power crisis in South Africa is teaching all of its citizens a few lessons in inventory, distribution and asset management. Here’s how these lessons translate into better inventory management for all manufacturing operations. (more…)
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