Is supply chain your weakest link?
|Counterfeit products perpetuate|
Apart from direct financial losses, spurious goods affect the brand loyalty due to poor quality and safety practices. Hence, organizations invest their resources hugely in fighting against this menace. In spite of these efforts, with globalization, the supply chain is becoming more complex and the counterfeit products perpetuate in the market. Let’s understand few pragmatic strategies that give a structured approach to these efforts
1. Organization policy – As an entity, it is important to have a protocol to ensure the common practices across the company and its geographies. It shall include but not limited to communication plan, team structure, product withdraw and destruction approaches. Also, delineate the strategies to identify, prevent the infiltration and also enforce deterrence
*Legitimate goods which are diverted to different geographics without the cognizance of brand owner are called "grey goods" and these are out of the scope for the above article