Today we live in a highly interconnected, global marketplace. Over the past three decades, we’ve witnessed an almost sevenfold increase in international commerce. Global supply chains are central to this growth. Indeed, companies today can gain competitive advantage by sourcing goods quickly and efficiently from around the world, all leading to lowering costs and raising standards of living.
However, as supply chains become more distributed and complex, there also comes increases in points of vulnerabilities for counterfeits to infiltrate the final products of many companies.
Counterfeiting has become a major epidemic. Between 2007 and 2012, 12 million counterfeit parts were reported, which roughly translates to one counterfeit being produced every fifteen seconds. Counterfeit goods have cost industries billions and put the public at risk.
In Create.org’s new whitepaper – Health and Safety Risks From Counterfeits in the Supply Chain – we feature an infographic that illustrates the human impact of counterfeits. It highlights how counterfeits have permeated products in every facet of our daily lives, from cosmetics to automobiles.
Due to the increased risk of counterfeits, many countries have stepped up enforcement of regulations aimed at stemming the flow of counterfeits into supply chains. Despite these efforts, the challenge of counterfeits in the supply chain continues to grow. Voluntary actions on the part of individual companies are an important complement to the creation of effective solutions to this problem.
CREATe Leading Practices for IP Protection offers online assessment tools, independent evaluations and training for companies to work collaboratively with their suppliers and business partners to put systems in place which will in turn, help to mitigate the risk of counterfeits entering supply chains.
Download our new whitepaper, Health & Safety Risks from Counterfeits in the Supply Chain; or learn more about our tools and training.