Executive Briefings

Serialization, Data Management Combat Counterfeiting in Food and Pharmaceutical Supply Chains

Attention is mounting by consumers, government, industry, and media to address the growing counterfeit challenges in the US.

In spite of the attention placed on this issue for almost a decade, counterfeiting has actually grown. Counterfeiting, in general, has low enforcement attention, disinterested consumers, and low punishment for criminals - the "perfect" 21st Century crime. But pharmaceuticals and food are different - the economic consequences are high and consumer impact can be devastating. In the last few years, the global economic woes have incentivized counterfeiting of all sorts of products.

This growth in counterfeiting may be because we are still somewhat avoiding the issue. We make it easy to get in the game. Unless the industry dedicates itself to finding and implementing cost-affordable and effective solutions such as serialization, the problem will probably continue to grow.

Containing the damage - human and financial - is a real goal for governments and the global pharmaceutical firms. The enterprise has a lot to gain strategically and quantitatively by taking this next step in data management and product tracking.

Gaining value from mass serialization strategies takes preparation and joint work by trading partners. It is not just a government issue.

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Keywords: supply chain risk management, e-pedigrees, anti-counterfeiting in the supply chain

In spite of the attention placed on this issue for almost a decade, counterfeiting has actually grown. Counterfeiting, in general, has low enforcement attention, disinterested consumers, and low punishment for criminals - the "perfect" 21st Century crime. But pharmaceuticals and food are different - the economic consequences are high and consumer impact can be devastating. In the last few years, the global economic woes have incentivized counterfeiting of all sorts of products.

This growth in counterfeiting may be because we are still somewhat avoiding the issue. We make it easy to get in the game. Unless the industry dedicates itself to finding and implementing cost-affordable and effective solutions such as serialization, the problem will probably continue to grow.

Containing the damage - human and financial - is a real goal for governments and the global pharmaceutical firms. The enterprise has a lot to gain strategically and quantitatively by taking this next step in data management and product tracking.

Gaining value from mass serialization strategies takes preparation and joint work by trading partners. It is not just a government issue.

Read Full Article


Keywords: supply chain risk management, e-pedigrees, anti-counterfeiting in the supply chain