What CPG manufacturers, retailers can do to crack down on counterfeiting

04/9/2014 | SmartBrief/SmartBlog on Food & Beverage

Counterfeit products cost retailers and manufacturers nearly $1 trillion every year, according to a study from the Food Marketing Institute and the Grocery Manufacturers Association. The study offers eight ways retailers and manufacturers can help reduce the instances of counterfeit products making their way into consumers' hands, such as developing a protocol for dealing with counterfeits and conducting anti-counterfeiting audits. "We must be vigilant about safeguarding our supply chain from counterfeiters and step up our efforts to stop organized retail theft," said Mark Baum, FMI's senior vice president of industry relations and chief collaboration officer.

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