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Heightened Media and Public Attention to Quality and Safety Lapses of Products Manufactured in China … Can Your Products Withstand Increased Scrutiny?
Recent high-profile recalls of products made in China have placed a spotlight on the issues of quality and safety of goods coming out of China . Now more than ever, companies need to ensure that their products meet quality and safety standards to avoid becoming the next headline-making news story. Not only are companies who deal with Chinese products more vulnerable to liability lawsuits and lost revenue, they must also contend with damage to corporate and brand images, which can have devastating consequences. While manufacturing in China and/or using Chinese components in products presents myriad risks, there are ways to manage those risks and mitigate damages.
The pet food recalls were the first of many headline making recalls resulting from defective Chinese products. Now that the recall crisis has abated and pet food companies face class action litigation, what can other companies learn from their experiences? This panel will look at:
- What types of contracts were in place?
- What costs did they suffer – recall, lost business, shares?
- What lawsuits are they facing?
- What regulatory sanctions/penalties are they facing?
- What changes have they made to their quality assurance processes?