On average, $10m is the cost of a recall on a food company. Add this to the fact that recalls have been doubling every year from the 2002-2014 period in the United States, and it should worry any stakeholder in the manufacturing and processing facilities. Yet many of them are surprisingly optimistic about the chance of a recall affecting business, and it's their belief of invincibility that leaves them unprepared to weather a storm when one blows up. When manufacturers take a risk on their customers' health, they take a risk on their business’s health.
By now, most people know that collaboration is key to success in any line of business. This holds true in the private label industry where retailers, manufacturers and suppliers are constantly competing with premier brand names. In fact, in a recent Nielsen report, "The State of Private Label Around the World," a Nielsen consultant says that a collaborative mindset is essential to compete in the private label space.
