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Body of Content
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500-550 word count unless otherwise specified. Ensure
that your content matches that of the provided requirements (neutral or
company specific) and is informative to the general population. Domain
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Global supply chain management has revolutionized the way companies
do business in the 21st century, however, it has also posed several
quality control challenges for manufacturers. Metal stamping can be applied to a variety of materials based on their unique metalworking
qualities for a number of applications across a wide range of industries.
Stamping is the process of placing flat sheet metal in either blank or coil
form into a stamping press, where a tool and die surface forms the metal into
a net shape. Other materials, such as polystyrene, can also be used in the
stamping press. Stamping includes a variety of sheet metal forming
manufacturing processes, such as punching, blanking, embossing, bending,
flanging, and coining. This can leave plenty of room for human error,
manufacturing defects, and design flaws, which puts metalworking shops at additional
risk in the event of a quality control error that leads to a product recall. Product
recall coverage for metal stamping shops is available for companies looking
to mitigate the potential risks associated with product recalls, including
third party liabilities stemming from defective products. |
Keeping the Lines of Communication Open
A product recall is the most significant action a company can take when
admitting a product is not up to specifications. Product recalls have continued
to rise to record levels over the past few years, despite numerous advances in
technology. Every year, people are injured or killed because of faulty products
that did not undergo thorough analysis and testing in the design and
manufacturing process. While consumers do not want to hear that they’ve wasted
their hard-earned money on a defective product, being transparent in the event
of a product defect can go a long way towards building and maintaining consumer
trust.
In a study conducted by the Relational Capital Group, 87%
of consumers said that they would more likely purchase and remain loyal to
a brand that handles a product recall honourably and responsibly. During a
product recall, it is important for all companies involved to react quickly
with an announcement and take responsibility for the mishap before the press
can paint your brand in a negative manner.
Products are Recalled for Consumer
Safety
When a product is recalled, the most immediate concern for
most companies is the impact on the bottom line. However, most of the damage
incurred as a result of a product recall comes long after the affected products
are taken off the market. Litigation
costs, government fines, and the damaged reputation of the brand often end up
costing companies far more than the direct costs involved in the case of a
product recall. Ultimately, products are removed from the shelf because they
pose a threat to the health and safety of consumers. While the fallout from
product recalls is predominantly negative, it does offer a chance to enhance
consumer engagement.
The aftermath of a product recall can create a ripple effect throughout the
entire supply chain, leaving several companies susceptible to damages and lost
sales. Product recall coverage for metal stamping helps protect shops from all
of the costs associated with conducting a product recall, including third party
liabilities that stem from malfunctioning products or parts. Product recalls
can be costly, but they don’t have to be catastrophic. When handled properly,
companies can emerge from such a crisis even stronger than before.