Containing the Fallout: How Companies Can Restore Confidence in Chinese-Made ProductsDeloitte Insights podcast |
Losing money is bad enough and losing reputation can be catastrophic, but when companies are in danger of losing both, they need to do a lot of damage control — and do it fast.
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Losing money is bad enough and losing reputation can be catastrophic, but when companies are in danger of losing both, they need to do a lot of damage control — and do it fast. That’s the nightmarish challenge many U.S. importers faced last year when they were forced to recall a number of products manufactured in China. What was overlooked in the uproar was that the five Chinese products that were the primary subject of safety concerns last year — toys, seafood, tires, pet food and toothpaste — account for just 6 percent of all imported products made in China and an even smaller percentage of those goods were actually subject to recall. Nonetheless, panicky consumers reacted as if everything made in China is potentially harmful, creating an excruciating dilemma for U.S. importers and their Chinese partners.
Highlights:
- Why is it so difficult for U.S. companies to find replacement sources for products made in China? (4:45)
- Practically speaking, what processes can management put in place to promote accountability and create controls to monitor the safety of the products their organization is importing from China? (14:46)
- What kinds of oversight mechanisms are necessary to check for product quality and minimize exposure to risk? (25:33)
- Can you see anything positive coming out of this controversy? (28:45)
Guests:
Clarence Kwan, Senior Partner, Deloitte LLP
Tim Hanley, vice chairman and U.S. Process & Industrial Products leader, Deloitte & Touche LLP
Related Content:
China Board Brief: Encouraging a Sustainable Approach to China Sourcing
Services: Chinese Services Group
Industries: Consumer Products
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