Counterfeit products and supply chain risk
Here are some interesting facts on product counterfeiting from a story by Acsis Inc. Counterfiet products represent a serious risk to brand equity, and point to potential failures in the supply chain. Counterfeiting is now one of the fastest growing and profitable industries in the world. With an average of 5 to 7 percent of the world trade market, it is a $600 billion per year industry. The U.S. Customs and Border Protection reports the total number of counterfeit goods increased dramatically in FY 2011 by 24 percent compared to the prior year, and has increased 325 percent over the past decade.
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