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

Lancashire’s tech and innovation ecosystem goes online with open access Dealroom microsite Lancashire Innovation Board Members Jane Dalton and Russell McGrath, Dealroom's Aoife Morrin, and Lancashire County Council’s Head of Business Growth, Andy Walker

Lancashire’s tech and innovation ecosystem goes online with open access Dealroom microsite

24 Jun 2025

2

New £40m veterinary school champions diversity to support a resilient veterinary workforce Will Greenwood as a Lanx ambassador

New £40m veterinary school champions diversity to support a resilient veterinary workforce

23 Jun 2025

3

Technology, skills and infrastructure should be key priorities in Government Industrial Strategy, finds MHA manufacturing report Andrew Matthews

Technology, skills and infrastructure should be key priorities in Government Industrial Strategy, finds MHA manufacturing report

23 Jun 2025

4

Businesses should look at Net Zero as an 'opportunity, not a challenge' Lancashire Net Zero Conference 2025

Businesses should look at Net Zero as an 'opportunity, not a challenge'

20 Jun 2025

5

£4m investment across East Lancashire power network EV electric vehicle Electricity NW

£4m investment across East Lancashire power network

20 Jun 2025

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
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Business Bike Club – July
Chamber Logo1.png.png
LBV Hub Networking
01 Jul 2025 - 01 Jul 2025

Business Bike Club – July

Various, Lancaster, LA

08:00 - 09:30

Chamber Breakfast Networking – July
Chamber Logo1.png.png
LBV Hub Networking
02 Jul 2025 - 02 Jul 2025

Chamber Breakfast Networking – July

St John's Hospice, Slyne Road, Lancaster, LA2 6ST

08:00 - 10:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Lancashire Business Day 2025
241122lbvlancashiredaylhp0647web
Networking
27 Nov 2025

Lancashire Business Day 2025

Burnley FC , Burnley, BB10 4BX

12:00 - 17:00

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 LBV122 Online Graphic
Subscribe now

Weekly news bulletin