It doesn’t matter what you have if you can’t protect it ~ Eric Walters
A company we served had a major crisis from a possible product recall issued by CPSC (U.S. Consumer Product Safety Commission). This line of trouble products had been heavily monitored, inspected, and tested during all manufacturing processes. However, a random store product test performed by Walmart found some of them contained excess amount of lead. Walmart immediately informed the CPSC and asked all goods to be withdrawn from the market. In addition, all those goods on ocean freights to be destroyed once they have arrived to U.S. soil. Since these products were scheduled to be sold during Christmas season, the company had ordered extra quantity from their factories, paid for TV commercials to promote nationwide, and offered them not only to Walmart but also Target and other major stores. Such a catastrophe of product recall would destroy the company finacially, not to mention their reputation. If you were the CEO of this company, what would you do?
“Protect what you have and plan for what you want” is a great mindset to have. However, most companies do not have the knowledge and resources to safeguard their assets, intellectual properties, business confidentiality and even their ownership. Mishap may erode years of accumulated success and profits. While our consultants are not attorneys or insurance agents, our goal is to advise you on how to have sufficient protection, find protection gaps, and install a contingent plan to minimize risk. Put your mind at ease so you can concentrate on your business.
We have helped companies in:
- Solving product safety and compliance issues to prevent recall threats or losses
- Updating internal and external policies to current governing laws and regulations
- Protecting intellectual property with cost effective self-managing methods
- Strategically reducing leadership time, energy, and expenses for any possible litigation
- Reviewing all contracts and agreements to avoid unforeseen consequences
No job is finished until the paperwork is done. Managing all your risks with proper written documents and processures so your success won’t be vulnerable.
For the company who faced the recall mentioned above, we were able to isolate the excess lead problem to one of the colors on the products. We proved the mishap was within a batch in a very small quantity and did not contaminate others. The root cause of the problem was identified and satisfied both CPSC and Walmart. The recall order was then lifted by CPSC and the company’s reputation and financial status were saved.