Deceptive counterfeit risk in global supply chains

Abstract

The study investigates deceptive counterfeits in global supply chains. It explores perceived sources of counterfeits, their impact and identifies risk mitigation strategies in Business-to-Business procurement. An online survey is used to collect data from 140 procurement professionals targeted at a national purchasing body and affiliated UK purchasing groups. The study findings show that counterfeit breaches are increasing, especially in low-cost spare parts, sourced from tier-two suppliers based in developing countries. Counterfeits lead to high costs SCs in delays, lost sales, product recalls and even legal action. Network transparency, cost of quality and pre-supply evaluation approaches and supplier relationship management are the most effective mitigation strategies to overcome deceptive counterfeits. The study contributes to academics and practitioners' growing research interest on counterfeit risk in global supply chains.

Critical Success Factors and Traceability Technologies for Establishing a Safe Pharmaceutical Supply Chain

“…Counterfeit drugs are fake medicines that resemble authentic medicines, and which are harmful to the health of a patient. The ineffective management of supply chains by manufacturers and distributors has allowed counterfeiters and smugglers to evolve rapidly and become very creative, and excel in producing counterfeit medicines and inserting them into the legitimate supply chains, meaning that many fake medicines go undetected [ 1 ]. To counter this issue, global organizations, such as the World Health Organization (WHO), the European Union (EU), and the US Food and Drug Administration (FDA), work together to reduce the spread of this frightening crime to protect the safety and security of patients [ 2 ].…”

Utilizing Blockchain for the Detection of Counterfeit Products

“…Ethereum, an open-source blockchain, was discussed as a technology support-ing digital money, global payments, and applications [17]. Abhijeet and Andrew et al [18] presented findings on counterfeiting in global supply chains, revealing its widespread increase in areas such as low-cost spare parts and the drug market. Counterfeit products were challenging to identify due to the availability of forged certificates.…”

Design of a self-cleanable multilevel anticounterfeiting interface through covalent chemical modulation

“…The counterfeiting of intellectual property and commercial goods is a well-recognized threat to society, the economy, and consumers' health across the world. [1][2][3][4][5] The joint report by Organisation for Economic Co-operation and Development (OECD) and European Union Intellectual Property Office (EUIPO) reveals that counterfeit goods cost the global economy around $461 billion dollars annually. 2…”

“…The counterfeiting of intellectual property and commercial goods is a well-recognized threat to society, the economy, and consumers’ health across the world. 1–5 The joint report by Organisation for Economic Co-operation and Development (OECD) and European Union Intellectual Property Office (EUIPO) reveals that counterfeit goods cost the global economy around $461 billion dollars annually. 2 Previous approaches used substrate structures, 6–8 surface tags, 9,10 embedded tags, 11,12 and patterned interfaces 13,14 to combat the growing challenges associated with counterfeiting.…”