As an entrepreneur, you must know how to protect your brand. If off-spec products fall into the wrong hands, then they can damage your business’s reputation. Keep reading to learn what your business should know about off-spec products so you can protect your brand.
What Are Off-Spec Products?
Many entrepreneurs focus on their own products and sometimes don’t learn about the terminology for the products they don’t or can’t sell. Off-spec is one of those terms.
Off-spec refers to off-speculation products, which could mean the product doesn’t meet internal business standards or external standards placed by the federal government. Recalled, damaged, overstocked, or outdated products are all off-spec.
What Should You Do With Off-Spec Products?
Depending on the age of your business, you may not have dealt with off-spec products yet. When you do have off-spec products, you must decide what to do with them. Some businesses quietly sell off-spec products at a discount to compensate for the loss. In some cases, this is illegal. Even if it’s not illegal, off-spec products can hurt your brand since they’re probably damaged in some way.
The best option is to destroy your off-spec products so that no one can resell them. While destruction will cost you money, it is the only way to guarantee off-spec products don’t reach the gray market.
Who Can Help You Destroy Off-Spec Products?
Destroying off-spec products is more involved than throwing them in the dumpster behind your business. If you want to keep off-spec products off the gray market, hire a professional waste management company to destroy them. A waste management company can destroy off-spec products in various ways, including incineration, shredding, crushing, and composting.
You should know all about off-spec products as a business owner. Most importantly, know what they are and how to keep them off the gray market. When you destroy these products, you protect your company’s quality and reputation.
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