Over 1800 senior executives and quality professionals were interviewed as part of a recent global Forbes Insights report. “The focus relates to the links between quality efforts and corporate performance, as well as the evolving business value of quality.”Of those surveyed, 58% of senior executives and 43% of quality professionals identified quality issues with suppliers as a “Most Vexing Yet-to-Be-Resolved or Ongoing Quality Issue.” 57% of senior executives and only 25% of quality professionals also identified delays from suppliers in product or service delays as an ongoing issue.
A love for our furry friends is shared among Pro QC teams across the globe. In fact, international trends are consistent.” World pet markets are growing at a dramatic rate, with a number of countries witnessing higher than ever pet ownership and spending.”
Euromonitor reports that the world pet market arena in India is expected to grow at a 10-15% annual rate in the coming years and is projected to eventually become a leading supplier of pet products around the world. Brazil has one of the largest pet populations in the world, with a sales increase of 12-17% each year. Within the U.S., the American Pet Products Association (APPA) offers a look at the pet industry expenditures from 1994 to 2016. The growth of the spending on the pet industry has been referred to as quite staggering. In fact, even in years in which the economy dipped into recession, Americans made their pets a priority and spending steadily increased. In 1994, the APPA says Americans spent $17 billion on their pets. By 2016, spending nearly quadrupled to an estimated $62.75 billion. By 2020, the pet industry could hit $96 billion in sales.
Our latest video discusses a topic increasing in relevancy. Responsible Sourcing is also a topic we’ll be discussing next week at ASQ’s annual World Conference on Quality & Improvement. Visit us in Booth 607, or attend one or both of our sessions on Monday, May 1st.
3pm – 4pm
M26: Managing Supplier Social Responsibility: On-Site Audits
5:30pm – 6:45pm
AF04: Incorporating SR Into Daily Life
Over the years, we’ve had our share of inquiries related to organizations seeking to resolve a recall situation. While many of these calls are reactive, a proactive approach is recommended to avoid the cost and overall impact to stakeholders.
How can you avoid product recalls?
Know Product Safety Requirements – Avoiding recalls generally starts with product design and specification development. Due diligence is required to determine if any applicable testing is required depending on the market in which it will be sold. Contacting a testing lab for a general inquiry is worth the time and effort. Researching ANSI and ASTM standards is also advised. A third party’s expertise can also be leveraged here and specifications development/testing can be outsourced.
Know Your Suppliers – Supplier selection is a critical component in the quality process. Verifying suppliers and performing an on-site evaluation adds an additional level of assurance. Considerations include:
A report issued by McKinsey & Company predicting trends up through 2020 in the global automotive industry identifies four challenges that will affect the industry’s growth. With these four challenges in mind, we offer quality solutions that effectively hedge or otherwise prepare those working within the industry.
- Complexity and cost pressure
- Diverging markets
- Digital demands
- Shifting industry landscape
“To capture future growth and find profit from these challenges – and to mitigate their risks – OEMs cannot simply turn to their traditional toolbox. They need to review and adjust their strategic priorities, deploy the appropriate investments and resources, and develop new skills to execute these strategic objectives.”
The automotive aftermarket faces it’s own challenges as well, discussed in detail within the Aftermarket Outlook 2020 report. According to the report, challenges include: