Your brand’s reputation is one of the most important factors in determining the success of your company.
When the products you create end up in the wrong hands or hurt others, your brand’s reputation and bottom line will likely suffer.
Certified product disposal, however, can help ensure the products you no longer want or can no longer sell don’t end up in the hands of unscrupulous characters. It’s a must for any company whose success relies on the quality of its products. Here’s how certified product disposal works and how it can preserve your bottom line.
Certified product disposal is the process by which the goods a company produces are destroyed or disposed of legally.
Certified product disposal ensures products you no longer sell or want are destroyed so they do not end up in the wrong hands and sold on the grey market. This type of certified disposal product will also destroy products that have been deemed unsafe.
The best disposal companies will provide authentication so that you have peace of mind and proof that your products are being disposed of properly and legally. This can be especially important if you have been court-ordered to dispose of products due to illegal activity or defective parts.
Where there are many reasons a company may require certified product disposal services, some of the most common reasons include:
Hazardous waste laws also mandate certified product disposal of any goods whose components or ingredients have become contaminated, passed their expiration dates or have been otherwise corrupted.
Many other seemingly harmless products, such as cosmetics and pet foods, are potentially damaging to people, animals and local ecosystems if inappropriately disposed of as well.
Disregarding product disposal regulations can not only damage the environment, but also a company’s reputation among consumers in the marketplace. This places the company’s future in question.
Here are a few ways certified product disposal can help your bottom line.
The grey market consists of unauthorized sales of products either designated for disposal because their quality has become compromised or a newer model/version has been offered to consumers.
Grey market goods may also be 'knock-offs' of original goods or lower quality copies. The grey market thrives because it offers deep discounts for second-hand, counterfeit or expired goods passed off to consumers as new and authentic.
While the grey market affects many industries, from automobiles, consumer products, pharmaceuticals and fashion accessories to computers. Information technology products valued at as much as $40 billion in sales are passing through the grey market annually.
The practice is so widespread that certified products that are hazardous or otherwise unreliable have ended up on places like eBay or other similar retail or auction sites whose commercial reputations are otherwise trustworthy and sound.
These are not isolated incidents. They result precisely because manufacturers do not exercise suitable care when selecting a certified product disposal company to dispose of their outdated or damaged goods.
When an item is sold on the grey market, brand degradation can result because your supposedly discarded products are appearing in places with substantial discounts. This changes consumers’ expectations of your products and prices. In other words, consumers will be unwilling to pay for the real thing at the real retail price. This can have a significant impact on your bottom line in the long-term.
A product disposal company can ensure this does not occur, however, but properly disposing of your unwanted products. Working with a certified and experienced company protects you ethically, as well as legally, while sustaining a reliable strategy for future profitability.
Defective products can expose your company to a liability risk. It doesn’t matter if you “tried” to get rid of these faulty products. If you don’t, and someone is hurt, you are still liable.
If you are subject to a product recall, it is extremely important to ensure these products are properly disposed of to prevent them from ending up back on the market. A disposal company experienced in product disposal can help you with this.
In other cases, you may be court-ordered to dispose of a product, and not doing so, can land you in legal trouble. For example, patent and copyright infringement cases or seized goods at a port of entry may warrant one of these court-ordered directives. Not complying with these orders can result in costly fines.
One of the benefits of a certified product disposal company that is often overlooked is the proprietary protection proper disposal can offer. Electronic products that contain sensitive customer or company financial data should be carefully disposed of to ensure this information is not breached.
It’s important to remember that electronic products contain embedded memory with software that can be easily copied and then sold by other companies. This can be devastating to your bottom line, especially when information from prototypes and product test runs are stolen, allowing other companies to release the product you designed to the market.
This information must be destroyed when it is no longer needed or the electronic equipment holding it is no longer needed.
Enlisting the services of a certified product disposal company will keep your products off the grey market, maintain your reputation among consumers, limit your liability and ensure your ideas are protected.
All of these play an important role in the success of your company’s bottom line and how you are viewed in your industry and by the public. Ensuring the disposal company you choose is reputable and can provide solid evidence that your product has been disposed of appropriately is key. This will alleviate many of the problems mentioned here and sustain your profitability.