Marketing your brand and creating opportunities while battling counterfeiting is as critical as it is challenging, especially in the current business environment. With emerging markets in various sectors, where the supervisory authorities are inadequate, and the supply chain is not well established, there is a growing need for solutions that can secure the supply chain as well as protect the brand.
There is a need to find newer solutions to counter the global counterfeiting epidemic while building brand value and creating scope for customer connectivity. It is important to realize that the issue of counterfeiting in most industries, especially Agriculture, Pharmaceutical, and FMCG, among others is an epidemic that is a resultant of opaque supply chains and is a growing threat to the integrity of both the product and brand alike on a global scale.
Counterfeit medicines have annual sales amounting to at least USD 75 billion impacting the general public well-being, and the global healthcare system alike. According to the World Health Organization (WHO) statistics, the death toll resulting directly from the usage of counterfeit medications and medical products is estimated to be around 1 million annually.
The counterfeiting of genuine products not only costs the legitimate businesses in terms of revenues, but it also taints the brand if the counterfeit product leads to injury or demise of the consumer. The fake products that easily enter the supply chain due to lack of visibility also increase the legal and financial liabilities of the organizations who in reality might be victims of counterfeiting themselves.
The ultimate goal for any brand is to deliver genuine products to the consumer in a timely manner while trying to optimize the supply chain to reduce the cost. Protecting the consumer and the brand in the ever-changing technological environment requires a combination of solutions that work in tandem resulting in a robust supply chain.
Detecting Counterfeit through Digital Platform
It is crucial for companies to track the product throughout the supply chain. The easy to implement plug & play solution based on product serialization can help brands ensure that the product is tracked at every stage of the supply chain. Companies can utilize this traceability to addresses flaws in the supply chain. With O4S, brands can be rest assured that they can trace their products at any given point of time.
Products can be assigned a Unique ID (UID) at the manufacturing facilities. This unique ID akin Aadhaar code can be scanned using a mobile application. We deploy advanced technologies such as Machine Learning and IoT for generating and printing UID using O4S in-house built algorithms, respectively. The use of the latest technologies ensures that products get the best of the protection.
Moreover, product authentication is made extremely easy for customers. All they need to do is scan the QR code present on the product using their mobile phones. This empowers the customer to ascertain that they are making genuine purchases only. Brands too can be assured that their organizations are adhering to all the national and international regulatory compliance. Thus, helping brands establish a direct connection with their end customers.
Real-Time Inventory Tracking made Easy
With the rapidly evolving business landscape, companies that remain agile and adapt to the ongoing changes are able to survive. This means understanding the changing customer demand and employing the upcoming technologies to deliver impeccable results. With no time to spare at the customer’s end or by the organization, maintaining a robust supply chain becomes critical.
With real-time inventory tracking solutions offered by O4S, you have access to real-time inventory levels across local distributors and retailers. The real-time inventory tracking optimizes the supply chain, thereby improving the overall efficiency of the business.
A brand can use the data to ensure timely purchases, eliminate stock-out or excessive inventory situations, and help proactively respond to sales fluctuations. As a result of these steps, a brand is able to maintain an optimal level of inventory matching well to the supply-demand patterns.
The inventory data helps in understanding the product flow rates at each level with respect to each SBUs. This assessment helps an organization find bottlenecks and spots in inventory flow, causing delays. Optimizing these not only helps improve the supply chain but also gives an organization a competitive edge.
Hassle-Free Product Returns
The reverse supply chain issues arising out of the product returns have led to massive problems for companies across industries. The increase in volumes and the number of SKUs have further complicated the problem of returns management. Apart from the lack of control, the introduction of counterfeit products during returns can lead to massive monetary and brand equity losses.
With O4S product returns management solutions, a brand gain complete control and visibility into the entire product returns process. This helps them set checks to ensure that only permissible products from genuine retailers and wholesalers are returned. Our solution also allows companies to optimize product trade returns from various trade channels.
The product returns management solution helps an organization to use next-gen technological solutions and move away from traditional record-keeping methods. Our software ensures accurate and fast financial reconciliations resulting in an optimized product returns mechanism.