Product recalls, especially in Food, Pharma, and Toys are a logistics challenge. In addition, the costs of product recalls can put a company out of business.
The market has several significant players in recall enablers such as the plethora of traceability solution providers. Though the GS1 entry was announced a while back, not much discussion has take place past the initial announcement.
What is attractive about a nonprofit are the issues for small growers or product companies that operate on razor thin margins.We assume that the charges for such services will be small.
Pharmaceutical companies are still plagued with challenges to trace and recall and need a global platform. Who they will turn to for this, is an open question.
GS1 has entered other spaces that competed against commercial business in the past.Their goal is to be an enabler to customers – both technology players and end users. We will have to stay tuned to see the impacts.
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