As of 2020, the clothing sector lost nearly 26 billion euros due to counterfeit goods. Other majorly hit industries include pharmaceuticals, cosmetics and personal care, watches and jewelry, handbags and luggage, toys and games, and sports goods. In fact, supply chain counterfeiting has become a ubiquitous part of every industry as most people buy goods without verifying the authenticity of the products.
According to ICC, the counterfeit market is projected to cause a loss of nearly $4 trillion to the global economy by 2022.
Counterfeiters can perform unethical activities at any stage of the product lifecycle. So, the brands must be vigilant about implementing verification solutions at all stages, such as raw material sourcing, manufacturing, product packaging, logistics, distribution, and consumption by the end customer.
Detecting counterfeit goods in the supply chain is a challenging task. However, it’s not impossible. Thanks to the modern technology that helps brands with smart and foolproof ways to authenticate the goods.
Advanced anti-counterfeit and track & trace solutions like TrackMatriX empower brands to verify product authenticity at all stages. It’s a secure, cloud-based solution to track products in the supply chain effectively and efficiently.
Why it’s difficult to detect counterfeit parts
It’s challenging for brands to protect the shipments and raw materials from fraudulent activities due to the unavailability of a centralized system. Also, the current policing authority is not effective everywhere to eliminate fake products from the shipment lines.
Another major concern that brands need to tackle is the quality of the exported products. Sometimes, a manufacturing plant’s seconds are hard to distinguish from the quality goods. Hence, the supply chain managers are unaware of the low-quality products and approve them for shipment. Therefore, the world needs a more advanced solution to detect low-grade products without any errors.
Verifiable identifiers for dealing with counterfeit products
Distributed and cloud-based technologies can help create a smart verification solution. For instance, a unique serial number/code will be the verifiable identifier in a clothing business, and it can be produced for every article. The code will contain information such as manufacturing unit, production date, packaging date, etc. It will ultimately eliminate counterfeiting attempts.
End-to-end AI-powered solutions by TrackMatriX equip the brands with much-needed anti-counterfeiting technology. Their state-of-the-art supply chain anti-counterfeit and tracking and tracing solutions are cost-effective and help boost customer engagement.
How TrackMatriX features help solve counterfeiting problems
Anti-counterfeit solutions
TrackMatriX enables brands to secure products by applying tamper-proof QR-code and NFC tags on each product. Furthermore, the brands can connect the serialized codes (QR/NFC) with a product’s dedicated landing page. By doing so, anyone can verify the authenticity of the products effortlessly, and whenever someone scans the code, its dedicated web page will display product details.
Reporting portal with analytics
It is an advanced business intelligence solution equipped with a dashboard that brands can use to view user logs, product reports, scan reports, inspector logs. Moreover, businesses are also provided with custom reports and report export facilities to make informed decisions.
TrackMatriX® codes
Brands can protect their products by securely applying unique identification numbers (UID). Here are the options they can choose from:
1) TrackMatriX® GEO – It’s a machine-readable QR-code that is hyperlinked with a unique ID (UID) for appropriate serialization and item-by-item authentication.
2) TrackMatriX® LOCK – It’s a patented anti-counterfeit QR-code that contains overt and covert details. It’s a patented anti-counterfeit QR-code that contains overt and covert details.
3) TrackMatriX® NFC – The smart tags or NFC labels contain UID, dynamic cryptographic algorithms, and security protocols and enable the brands to utilize near-field communication technology.
Consumer engagement
Brands can empower their customers to scan QR- codes or NFC tags to verify product authenticity. Additionally, they can engage customers through custom landing pages, contests, lucky draw modules, etc.
Track and trace
Eliminate counterfeiting problems by tracking and tracing every product across your supply chain, including the partners, distributors, and retail outlets.
Landing pages
Build engaging landing pages using our ready-to-use templates, add forms such as warranty, feedback, and more.
Do you want to protect your products against counterfeiting activities?
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