Molecular-sized tracking device aims to prevent counterfeit products from entering supply chain

0 Comments

Driven by increasing online retail activity, the amount of total counterfeiting globally is poised to reach $1.82 trillion by 2020, according to LocatorX (Atlanta, GA), a technology company that is helping secure supply chains for OEMS and protect against counterfeit goods. This influx of counterfeit goods into the marketplace is costing brands millions of dollars in potential sales while their reputations plummet.

“It’s surprising how many counterfeit products and materials are out there,” said Billy Meadow, CTO and founder of LocatorX in an e-mail response to questions from PlasticsToday. “Manufacturers have no way of truly understanding the scale of this issue, especially within the plastics industry. Currently, there are mechanisms in place to identify lower-grade or toxic materials, but there’s no way to examine them easily and conveniently enough to the point where someone can confidently say, ‘this is real’ or ‘this is fake.’”

https://www.plasticstoday.com/packaging/molecular-sized-tracking-device-aims-prevent-counterfeit-products-entering-supply-chain/189107513460725

Categories:
See LinkedIn profile: https://www.linkedin.com/in/arturdziedzic/