Manufacturers urged to cut costs, not corners

By LBV

21 Feb 2012

The number of products recalled last year rose by 27 per cent to nearly 300, with faulty food and electrical products being the worst culprits.

Tony Swallow, director at insurance brokers and financial advisors, Rowlands & Hames, warned that the increasing consumer demand for cheaper brands and suppliers needing to cut costs could have an impact on consumers and manufacturers.

He said: “Pressure to keep costs down is driving the trend for more product recalls, not just from manufacturers and suppliers, but consumers as well. Loss of turnover, damage to consumer confidence and potential loss of supply contracts are real risks. Issuing a product recall is a huge step and is not one to go into alone.”

Recalls can affect the smallest through to the largest organisations in the world. Confectionery maker Cadbury, estimated a recall of one chocolate bar to cost the business £20 million, with Apple also famously once fearing a global recall cost of $1.5 billion when the iPhone 4 experienced problems in the early stages after it went on sale.
 

Enjoyed this? Read more from LBV

Latest news

1

New road will drive Fylde’s economy forward M55 To Heyhouses Link Road Opening

New road will drive Fylde’s economy forward

24 Jul 2024

2

Partington's seeks permission to build £75m leisure destination Partingtons Windy Harbour Visuals

Partington's seeks permission to build £75m leisure destination

24 Jul 2024

3

Popular Longridge micropub Applejacks up for lease Pendle Hill Properties Sales Director Thomas Turner and owner of Applejacks Tom Jackson.jpg.jpg

Popular Longridge micropub Applejacks up for lease

25 Jul 2024

4

Employers must attract and retain economically inactive people Elizabeth-Judson-(2) (2).jpg.jpg

Employers must attract and retain economically inactive people

25 Jul 2024

5

Transport and logistics: A driving force for growth Botany Bay December 2023 Update

Transport and logistics: A driving force for growth

25 Jul 2024

Bec Web Strip 980x120
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Built Environment Conference
BEC 315 X 315 Px
Networking
25 Sep 2024

Lancashire Built Environment Conference

Conference and Exhibition Centre, Winter Gardens Blackpool, FY1 1HL

08:30 - 13:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
11 Jun 2024 - 04 Dec 2024

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 16:30

Preston Freelancer MeetUp and Coworking Day
Screenshot 2024-06-13 at 13.55.10.png.png
LBV Hub Networking
30 Jul 2024

Preston Freelancer MeetUp and Coworking Day

Society1 Coworking Space, Preston, PR1 3LT

10:00 - 12:00

Skills Bootcamp in Procurement - Cohort 1
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Seminars
30 Jul 2024 - 08 Oct 2024

Skills Bootcamp in Procurement - Cohort 1

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

Chamber Breakfast Networking
Chamber Logo1.png.png
LBV Hub Networking
31 Jul 2024

Chamber Breakfast Networking

Pye Motors, Morecambe, LA3 3PF

08:00 - 10:00

Scaling your revenue: From zero to £1m in 60 months
CBP-logo LBV.png.png
LBV Hub Webinar
31 Jul 2024

Scaling your revenue: From zero to £1m in 60 months

Online, Online, Online

08:00 - 09:30

International Coworking Day Open Day
1.png.png
LBV Hub Social
09 Aug 2024 - 09 Aug 2024

International Coworking Day Open Day

Society1 Coworking Space, Prestin, PR1 3 LT

10:00 - 13:00

Knowledge & Networking: Basic Digital Marketing
Chamber Logo1.png.png
LBV Hub Seminars
12 Aug 2024

Knowledge & Networking: Basic Digital Marketing

Lancaster Golf Club, Lancaster, LA2 0AJ

14:00 - 13:00

Understanding Menopause
menopause.png.png
LBV Hub Webinar
15 Aug 2024

Understanding Menopause

x, Online, x

12:30 - 13:15

Sub36 Networking Event - The Bee Centre
Sub36 Socialbee Centre
Networking
15 Aug 2024

Sub36 Networking Event - The Bee Centre

The Bee Centre, Chorley, PR6 8LZ

15:00 - 17:00

Mini Networkers - Family Fun Morning
CBP-logo LBV.png.png
LBV Hub Networking
16 Aug 2024

Mini Networkers - Family Fun Morning

Community & Business Partners CIC, Blackburn, BB2 3UA

10:00 - 13:00

Morecambe Bay Walk 2024
bay1.jpg.jpg
LBV Hub Fundraisers
17 Aug 2024

Morecambe Bay Walk 2024

Sets off from Arnside, Carnforth, Cumbria Finishes at Grange Promenade, Kents Bank, Arnside, LA3 3LL

15:00 - 17:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV116 Online Graphic
Subscribe now

Weekly news bulletin