INDIANAPOLIS, Ind. – How much of an impact can recall outsourcing have on productivity? It is estimated that the average pharmaceutical company could see a 50 percent increase in performance levels just by outsourcing their recall program to a qualified service provider.
Productivity is the key to any business operation. On an average day in the pharmaceutical industry, research shows that professionals spend the majority of their time on normal business tasks with a small amount of time performing administrative duties. But when faced with a recall, these same professionals spend the majority of their time solely on recall matters.
Tackling an event in-house significantly impacts a company’s entire staff – from quality, safety and regulatory departments to legal, communications, customer service and even sales and marketing. As these employees become involved in handling recall-related duties during an event, many are unfamiliar with the processes required and lack the expertise needed to handle the recall in an efficient and compliant manner. The result is that both human and financial resources are exhausted and often the recall is not properly managed.
Willie Bryant, former FDA Senior Recall Coordinator and now a consultant for Stericycle, stresses the value of working with service providers such as Stericycle who specialize in recall management. “Outsourcing recalls not only provides significant cost savings, but may improve compliance, reduce potential liability costs, and allow company employees to focus on normal business activities,” says Bryant.
As the premiere single-source provider of turnkey recall management services, Stericycle has gained extensive experience by conducting more than 1,000 recalls over the past two decades. Add to this the expertise available to Stericycle and its clients by consultants such as Bryant and a company outsourcing to Stericycle can be confident that its recall event is being handled quickly and efficiently as expected by the FDA.
So how can a company truly equate the impact of outsourcing to its bottom line? With its new Recall Cost Calculator, the experts at Stericycle can now demonstrate these savings and more to the recalling company.
Stericycle’s Recall Cost Calculator is the industry’s first mathematical tool that can reliably predict the approximate costs associated with a potential recall event. By inputting carefully researched criteria, the Recall Cost Calculator can tell companies that are currently handling recalls in-house the cost savings of outsourcing them to a service provider.
Stericycle conducted an extensive industry study to develop many of the tool’s values, such as the annual number of industry recalls, industry revenue and average liability risk. The Recall Cost Calculator creates an individual assessment that measures a company’s unique profile data against these precise values and identifies the benefits of outsourcing a recall to an expert provider like Stericycle.
In addition to the significant cost-savings that can now be shown via Stericycle’s Recall Cost Calculator, outsourcing a recall may also improve compliance with FDA regulations and guidance. Stericycle’s capabilities to handle trackable notifications, responses, returns, support FDA reporting, reimbursement, storage and destruction are unmatched in the pharmaceutical industry.
Serving the pharmaceutical, medical device and consumer product manufacturing markets, Stericycle has developed a comprehensive portfolio of Expert services to handle all aspects of reverse logistics: ExpertRECALL, ExpertRETURN, ExpertCOMMUNICATION and ExpertRETRIEVAL.
Stericycle has facilities in Indianapolis, Ind., Conyers, Ga., and Boynton Beach, Fla. Stericycle corporately serves approximately 400,000 clients worldwide. Leading the industry in recall, return, communication and retrieval services, Stericycle’s professionals are the industry’s recognized experts.
To schedule a demo of the Recall Cost Calculator with a Stericycle expert, please visit www.RecallCostCalculator.com or call (888) 731-7972.
For more information on Stericycle, and the products and services it provides,
visit www.stericycle.com or call 1-888-843-0252.
Contact: Jamie Witt
T: (317) 636-7702
F: (317) 636-7802
E-mail: jwitt@mb2advertising.com
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