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
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The IoTs 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, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
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, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...