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Are there counterfeits in your global supply chain?

August 12, 2019 / supply chain, wheels news

The problem of counterfeiting is a multi-headed monster and it’s growing. According to the European Organization for Economic Cooperation and Development (OECD), the risk of a consumer purchasing counterfeit goods in the United States or the EU is roughly one in 20—and it gets bigger each year. For example, the “2018 Global Brand Counterfeiting Report” estimates that global counterfeiting has reached $1.2 trillion. OECD projects that about $2 trillion worth of counterfeit goods will be sold worldwide in 2020. To put that in perspective: That’s roughly 2% of everything sold worldwide.