Counterfeiting represents a tremendous, growing threat to the integrity of global supply chains. Within multiple verticals – from defense to industrial parts to textiles and beyond – counterfeit goods pose serious safety risks and jeopardize consumers. The automobile industry, for instance, considers each car part a safety part – from microprocessors to bearings.
Although each sector is aiming to stem the tide of fake products from entering supply chains, one trend transcends sectors: the realization that cooperation is essential. Manufacturers are banding together with government initiatives to establish traceability, realizing that fake goods pose as much, or more, of a threat to supply chains than actual known competitors. By working together, legitimate manufacturers will reclaim the market from counterfeiters (shadow competitors) and will be rewarded for their diligence in driving out fakes. By taking a proactive approach such as molecular tagging, proving the positive becomes the quality standard – versus finding the fakes, which is reactive and allows counterfeiters to call the shots.