|By Marketwired .||
|May 21, 2014 01:05 PM EDT||
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/.
Pentaho has announced orchestration capabilities that streamline the entire machine learning workflow and enable teams of data scientists, engineers and analysts to train, tune, test and deploy predictive models. Pentaho’s Data Integration and analytics platform ends the ‘gridlock’ associated with machine learning by enabling smooth team collaboration, maximizing limited data science resources and putting predictive models to work on big data faster – regardless of use case, industry, or languag...
Mar. 23, 2017 01:00 PM EDT Reads: 2,005
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Mar. 23, 2017 12:45 PM EDT Reads: 1,563
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...
Mar. 23, 2017 12:30 PM EDT Reads: 1,025
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 23, 2017 12:30 PM EDT Reads: 911
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 23, 2017 12:30 PM EDT Reads: 402
SYS-CON Events announced today that Addteq will exhibit at SYS-CON's DevOps Summit at Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Addteq specializes in creating innovative solutions to solve business processes through the use of DevOps automation. Addteq was founded on the firm belief that automation is essential for successful software releases. Addteq's products and services are centered around the fundamental approach of understanding the pr...
Mar. 23, 2017 12:30 PM EDT Reads: 2,617
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 23, 2017 12:00 PM EDT Reads: 709
Peak 10 has announced that it has completed a 20,000 square foot expansion of its Cincinnati-area data center, a 6,000 square foot expansion of its data center campus in Charlotte’s University Research Park, and added a pair of seasoned executives to its leadership team. This further propels the company on its aggressive growth trajectory to meet the rising demand for flexible hybrid IT strategies and solutions across its enterprise customer base. Cincinnati is home to companies like Kroger, Pr...
Mar. 23, 2017 11:00 AM EDT Reads: 2,300
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 23, 2017 11:00 AM EDT Reads: 1,878
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Mar. 23, 2017 10:45 AM EDT Reads: 1,304
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Mar. 23, 2017 09:30 AM EDT Reads: 2,428
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 23, 2017 08:30 AM EDT Reads: 2,593
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Mar. 23, 2017 08:00 AM EDT Reads: 2,021
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 23, 2017 08:00 AM EDT Reads: 3,683
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Mar. 23, 2017 08:00 AM EDT Reads: 3,236