Welcome!

News Feed Item

Stericycle Recall Index Examines Auto Recall Pileup

With Large Scale Events Dominating Headlines, Q1 2014 Report Analyzes Industry's Burgeoning Complexity

INDIANAPOLIS, IN -- (Marketwired) -- 05/21/14 -- Stericycle ExpertSOLUTIONS™ (NASDAQ: SRCL) today released the findings of its Q1 2014 Stericycle Recall Index, which focused on the challenges relating to automotive recalls. With public awareness at an all-time high, the data underscores that no company is safe from the ramifications of "auto recall pileup."

The Q1 2014 Recall Index analyzed recall data from the National Highway Traffic Safety Administration (NHTSA), comprising cars, child seats, equipment and tires, over the last four years. The data showed that the volume of auto related events remained relatively consistent, with an average of 688 yearly events from 2010 to 2013, or almost two per day. However, the size and scope of auto industry recalls have increased significantly in that same time period. The number of recalled units in 2013 increased by 54 percent from the prior year for a total of 28 million, and this trend shows no sign of slowing down. There were 13 million units recalled in the first quarter of 2014 alone -- the highest number of NHTSA related recalled units in any quarter over the past three years.

"Following the unprecedented amount of public awareness generated by major auto recalls in the first quarter of 2014, we felt the need to examine the challenges of these recalls in greater detail," said Mike Rozembajgier, Vice President, Stericycle. "Our Recall Index highlights that, while the number of auto recall events has remained relatively steady over the past few years, unit amounts are soaring drastically. This puts stress on the supply chain to produce replacement parts, taxes auto dealerships and used car networks, and further complicates the consumer notification and communication process."

The Recall Index found that 70 percent of the vehicles affected in Q1 2014 were produced in the last five years. This suggests that as technology advances become more pervasive, more recalls may occur due to mechanical malfunctions or software-related glitches. However, issuing a recall notification does not guarantee that the defect is fixed. According to CarFax, approximately 3.5 million used cars went up for sale online with unfixed recalls last year.

"One need look no further than recent media coverage to understand the financial and reputational implications of the 'auto recall pileup,'" continued Rozembajgier. "With small manufacturers and suppliers contributing to the majority of Q1 2014 events, it's clear that no organization is safe and that auto brands are only as strong as their weakest link. To protect consumers and the brand alike, companies must ensure they are prepared to efficiently address every facet of a recall in this increasingly complex industry."

To hear Rozembajgier elaborate further on the challenges of the "auto recall pileup" please view this video here.

As in previous quarters, the Q1 2014 Stericycle Recall Index also analyzed recall data in the pharmaceutical, medical device, consumer products and food sectors. Within the latter category, a number of interesting trends emerged in food recalls initiated by the U.S. Department of Agriculture (USDA). For example, while the number of recalls remained relatively consistent with Q4 2013, the amount of recalled pounds increased more than tenfold. As a result of this surge in volume, more pounds of food were recalled in Q1 2014 than in the past two years combined. The Index also suggests that USDA recalls due to lack of facility inspections are on the rise. Five recalls in Q1 2014 were initiated as a result of no inspection, compared to the four events that occurred in all of 2013 for the same reason. To learn more about these takeaways and Index findings from other industries, please download the Q1 2014 Stericycle Recall Index report in its entirety here.

About the Stericycle Recall Index
The Stericycle Recall Index is the only report that aggregates and tracks recall data to help manufacturers and other industry stakeholders navigate the regulatory environment and identify trends. Each quarter Stericycle analyzes data from the U.S. Consumer Product Safety Commission (CPSC), the FDA and the USDA. The Q1 2014 Stericycle Recall Index contains an analysis of data from a fourth regulatory body: the National Highway Traffic Safety Administration (NHTSA). For more information, please visit http://recall.stericycleexpertsolutions.com/index/.

About Stericycle ExpertSOLUTIONS™
Stericycle ExpertSOLUTIONS™ is the industry leader in managing consumer product, pharmaceutical, medical device, juvenile product, and food and beverage recalls. Stericycle ExpertSOLUTIONS streamlines the entire product recall process and manages Notification & Response, Processing & Tracking, and Compliance & Reporting for a variety of companies. For more information, visit http://recall.stericycleexpertsolutions.com/en/.

Press Contacts
Angie Puthoff
ExpertSOLUTIONS
(317) 275-7562
Email Contact

Kate Finigan
LEWIS PR
(617) 226-8840
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.