Manufacturers and distributors that want to protect their supply chains from potentially dangerous counterfeit and illegal chemicals have a new solution – Verify Brand’s advanced serialization, traceability and authentication software, the Verify platform.
Counterfeits and illegal chemicals pull demand away from quality products, ultimately stealing profits from chemical manufacturers. Worse yet, they pose threats to human health and the environment, leaving brands with the blame. These low-quality chemicals further damage brands as they are often less effective or completely ineffective. The reason: Counterfeit products lack the rigorous testing, refinement and compliance that legitimate chemicals receive. The spread of counterfeits is rampant across the globe:
- Europol estimates that more than 25 percent of the pesticides in circulation in some European Union member countries come from the illegal pesticide market. These chemicals “threaten the health of farmers and consumers and pose a risk to the natural environment.”
- Multiple explosions caused by counterfeit refrigerants have been reported by news agencies in recent years. In 2011, counterfeit-refrigerant explosions killed three people in Vietnam and Brazil.
- The Imaging Supplies Coalition (ISC), whose members include producers of printer ink and toner powder, estimates its industry loses $3 billion annually because of counterfeiting. The ISC said 100 percent of its members have experienced counterfeiting of their products.
“Counterfeiters have found a lucrative business selling fake and illegal pesticides, grey market refrigerants and other high-value chemicals,” said Mark Prokosch, vice president of Verify Brand. “Chemical manufacturers and brands with products that contain these chemicals can strengthen their supply chain with the cloud-based Verify platform. Our secure software helps identify and isolate illegitimate chemicals, pinpoint any diverted product, and ultimately improve end-user confidence.”
Verify Platform uses secure unique identifiers (sUIDs) and product traceability features to give manufacturers complete chain-of-custody tracking – creating a secure audit trail and alert system from the point of production to end-user delivery. The Verify Platform catalogs all events to provide enterprise reporting tools. A secure website and mobile apps allow users to access real-time data and analytics at any time. This enables chemical manufacturers to identify counterfeits, as well as track potential diversions of legitimate products from their supply chain.