Today’s manufacturers are faced with many challenges to survive and thrive in a global economy. One rising crisis affecting their success is counterfeiting.
“There have been several definitive studies that have suggested strongly or shown that something between 7% – 10% of everything produced in the world today is fake.” states Dr. Jim of Polyonics. “… conservative estimates just in the electronics manufacturing is some thing in the order of $200 billion dollars, even down to components, computer chips, and the circuit board itself.”
Are you surprised to learn that the effects of counterfeiting are that high?
There are several factors that lead to this in our global economy and it’s not limited to any one industry. Electronics manufacturers and the pharmaceutical industry have been hit especially hard. This goes well beyond the knock-off CD. When parts are passed off as authentic but are really sub-standard, the performance and reliability of the final product can be compromised. Look at the Avionics industry. Do you want to know the parts on the plane you board are real – and real safe? I do. Counterfeiting impacts all of us in one way or another.
“Good defense is a good offense.” saysDr. Jim as he continues to develop anti-counterfeit labeling systems. Did you know your label system is a good place to start to battle the increasing threat of counterfeiting and protect your business?
You may already use tamper-proof labels which will disintegrate when the seal is broken indicating a possible tampering. But what about being able to confirm the parts in the unit are genuine?
The answer may be in your labeling system. You can add protection using covert identifiers on your labels and/or encrypted labels to provide authentication in every step in the product’s life cycle. To an average viewer, there is no way to tell. With this anti-counterfeiting technique added to your label and scanning process, you will be able to identify fraudulent equipment or parts immediately. These affordable solutions are being employed by the electronics industry and others for protection from warranty fraud, brand diversion, and remarking.
If you are already labeling and using your data, you will be glad to learn how cost effective it is to add a layer of authenticity to your existing labeling and tracking process. To learn how advancements in anti-counterfeiting techniques using your labeling system can strengthen your fight against counterfeiting, please call David Holliday, of Winco Identification at 603.598.1553 X237.