The Economics of Everyday Things 111. Product Recalls
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Oct 20, 2025 Chris Harvey, Senior Vice President at Sedgwick, brings two decades of product recall expertise to the discussion. He reveals how recalls, ranging from food to automobiles, are driven by globalization and mass production. Listeners learn about the intricate logistics, from detecting problems to notifying consumers through various channels. Chris emphasizes the importance of swift action for safety and brand loyalty, and shares the hefty costs associated with recalls, often reaching tens of millions. Delve into how effective management can build trust while poor handling can lead to litigation.
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Radioactive Shrimp Scare
- AquaStar recalled more than 100,000 bags of frozen shrimp after traces of radioactive material were found.
- The contamination proved far below harmful levels but still triggered wide retailer pullbacks and an FDA recall.
Recalls Are Ubiquitous And Rising
- Recalls cover nearly every sector from food to cars and affect millions of units annually.
- Globalization and mass production have increased recall frequency and complexity.
Top Product Categories For Recalls
- The top five recall categories are drugs, medical devices, food and beverage, automotive, and consumer products.
- Consumer products alone include electronics, toys, and appliances which generate many recall events.