How Manufactures Can Avoid Counterfeit Consumer Products From Getting Into Consumers Hands

Counterfeiting and piracy has increased manifold over the years

. Counterfeit products can be found in virtually every sector of the economy. It is causing a major threat to consumer health and safety, apart from creating an enormous drain on the global economy. Counterfeit goods include products such as batteries, pharmaceuticals, food products, cosmetics, auto & aircraft parts, apparel, Jewelry, software, medical devices, extension cords and more.

Levels of counterfeiting vary globally but it is agreeable that it is a multi-billion dollar industry creating an underground economy that is flourishing.

Product counterfeiting is a type of consumer fraud. Product counterfeiting is generally an organized team activity, as manufacturing products need time and people with the main objective being profit. Numerous jurisdictions have taken this offence seriously and have come up with anti-counterfeiting laws.

However, counterfeit detection is not easy. It involves well thought out strategies and keen observation. Eminent service providers today have introduced anti-counterfeiting solutions that:

1. Apart from actively searching the internet regularly for counterfeits, applies human intelligence to ensure total data integrity

2. Allows companies to reduce the amount of fake goods in the market by recognizing networks and syndicates high volume counterfeits.

The outcome of counterfeiting is both intangible and tangible. It affects an individual company as well as the society. The tangible impacts comprise huge revenue losses by the trademark owner to the counterfeit manufacturer. While intangible impacts comprise loss of good will, brand reputation and consumer confidence. Such macroeconomic impacts increase when loss of revenue translated into job losses and discontent turning into negative attitude towards a business.

Innovative anti-counterfeiting solutions concentrate on solving the problem of counterfeit products by using its high-end search technology to monitor all activities globally. It helps in online fraud detection by focusing on pricing, discount percentages and quantities for each single product. User-configurable charts on dashboards that the solution offers shows this. Furthermore, a company risk index ranks suspects and highlights them on the user dashboard. The index further allows every user to identify quickly the company that is responsible for making you lose brand reputation, revenue and customer.

Counterfeiting solutions enable you to reduce the impact of counterfeiting on your organization. You need a solution that can help you manage risk and regulatory compliance and offer the convenience of global coverage with local service where you need it. The solution should offer you customized and specialized services to meet your quality assurance needs throughout your supply chain.

by: Gladeyas

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