Newgistics has made a nice little living selling software to help retailers handle product returns. On Monday, the Austin vendor launched a package designed to help with large-scale recalls.
I am envisioning their launch presentation to investors: "People, only invest in this if you believe that American manufacturers are going to screw up a lot more in the next two years." Betting on manufacturers to botch product safety. Now why can't my mutual fund invest in that?
The Newgistics program supposedly helps retailers and manufacturers manage "each phase of the recall process, from customer notification to product disposition," said a company statement. "Once a company has developed the product recall message in conjunction with the Consumer Products Safety Commission, Newgistics works closely with the company to promptly deliver customized recall information to impacted consumers via E-mail or postcard. As a key component of the online recall program, customers can access the Returns Center, an online portal that captures customer information, creates a dynamic return label and conveys recall status information to the retailer or manufacturer. Alternatively, companies can implement the recall program offline, providing consumers with a dynamic return label along with the recall notification."