Medicinal Leaks
46 million doses of flu vaccine had to be destroyed because of contamination.What were the real costs to the manufacturer? What were the costs to healthcare providers?
What are the potential costs to the U.S. economy because of sick days?
The answer: HUGE.
Merck voluntarily removed their pain medication, Vioxx, from distribution because of cardiac side effects.
What will that do to their bottom line? Is it the FDA's fault for not doing a better job of testing?
While most businesses don't have this kind of exposure, the cost of mistakes in the testing and production of new products can crush a business. As you find flaws in your design, development, testing and production process, fix them. Find ways to mistake-proof each step in the process. It's far cheaper to prevent an error than it is to fix it after the fact.
Plug the Leaks in Your Cash Flow
2 Comments:
Yes the fda should be doing more due dilegence in the fields of quality control. However you look at it, vioxx was and is a catastrophe given the recent august '05 payout. Nonetheless, diddo on your screen before you unleash products comment. If more moola were spent on this aspect in the prior, much of these money leaks wouldn't occur in the ladder.
Great piece of writing!
Brian
cash loan guy
¿What about the recalls in the automotive industry, etc.?
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