Reducing Risk in Global Supply Chains - Sponsored Whitepaper

Reducing Risk in Global Supply Chains
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ChainLink Research
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Estimates on counterfeit trade exceed two hundred billion dollars (US). And inspections across the world cost billions, yet only a very few shipments are actually inspected. This issue has particularly impacted the vital Life Sciences Supply Chain. This article discusses some solutions that are at hand to reduce illicit trade and ensure a safe and secure supply of pharmaceuticals.

The past decade has seen an increase in the level of global trade, and along with it, the unintended consequences of seeking cheap labor sources and new emerging markets. Illicit trade has actually been increasing, even with heightened public awareness, resulting in grave consequences to society and business from both physical and cyber crime. In 2006, according to the European Union (EU), more than 1.6 million counterfeit cosmetics/personal care products and 1.2 million foodstuffs and beverage products were seized at the EU external border, out of a total of 130 million fake objects. In addition, counterfeit medicines had 2.7 million products stopped at the border. Fake medicines estimates may be 10% of world trade in medicines.
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