When you are empowered to build a brand that ensures authentic products at every step of the buying process, maintaining transparency in the supply chain and ensuring the top-tier quality products must be your concern. If you are not able to track your products, you are probably at risk of counterfeiters. They are always looking for a brand that has something promising to offer to its customers. Counterfeiters know that selling your fake products will bring them huge profits no matter how it damages your brand’s reputation.
Even some unauthorized resellers also violate the MAP policy by selling your products at a much lesser price. To stop these practices, you need to adopt optimal digital Warranty solutions. Product serialization saves you by eliminating such concerns. It is a process that will assign a unique identity to every saleable product of yours with QR code, NFC, or RFID, etc. After serializing the products, you will be able to identify and track their journey with the help of a unique code. This digital tool also offers additional benefits that may find intriguing.
Build your brand by serializing your products
Many industries like pharmaceuticals, food & beverages, manufacturing, and many others are already tracking their products as the risk of counterfeiting is way higher here. The process of Serialization goes a step further as it allows brands to track single products by allotting a unique label. When you can trace your products at the item level, you will gain a new level of control over the supply chain that ensures authenticity at every step. With this technology, you can identify the authentic products among the fake ones (without having unique codes).
Serialization offers multiple benefits for your brand. With the tracking of products, you can perform a recall, get the oversight for performing demand forecasts, and identify the potential issues lying in your supply chain management. When you get such advanced and accurate information about your products, the dice come into your hands. It’s up to you- how to invest this data for creating your brand’s goodwill. Once you are successful in proactively managing these aspects with the serialization process, no one can stop you from solidifying consumer confidence in the quality of your brand.
The pandemic has just added to the need for product serialization
Things have gone digital with the technological transitions, especially after the pandemic. Consumers look for sites like Amazon, eBay, and Flipkart, even if they need a daily consumable product. The number of medical, hygiene, and cleaning products on the shopping list has gone beyond the comparison. Consumption habits are changing rapidly and aggressively. Counterfeiters are exploiting this situation to earn illegal profits. The reason being the producers have not been able to meet the rising demand as necessary due to the scarcity at many points such as raw materials, processes, and packaging. In normal conditions as well, the chances of counterfeiting are very much prevalent.
The products prone to counterfeiting activities need to be serialized, especially for online channels. Pharmaceutical is the industry where this solution has shown successful application. End-to-end traceability is what saves the trust of the consumers and the image of the brands. Serialization in products works this way only.
How Product Serialization enables MAP Monitoring?
Stopping unauthorized resellers to sell the products at a price much lower than the mandated is difficult. Your brand will be able to build an impactful image only when you can effectively handle this part. Serializing the products will be a boon for you to enforce the MAP Policy. By using unique code, you can trace the products to resellers hiding behind 3rd party accounts and the potential violators of your MAP policy right from their source. Now, you can focus on hard-to-track problem resellers first.
When your MAP policy does the job the way it is designed, you can ensure product authenticity at every step. It enables only the supportive resellers to market your products. At the same time, you can also make sure that your enforcement efforts unintentionally don’t harm your most supportive resellers.
How is product serialization done?
After knowing the range of benefits that serialization offers and how it builds your brand, you may want to know about its application. To your knowledge, it is not just about putting a label on your product box as the process is more involved. In addition to this, you must also want to track your products in the supply chain.
The application of barcodes or RFID technology makes the tags “readable” when scanned through automated machines. When combined with a Data Management System, it allows you to follow the chain of custody of your products as they pass on to resellers. When scanned, the information of your product goes into the supply management database. It will help you gain their visibility even at physical locations as they move ahead in the supply chain. Increased transparency means no more counterfeited products or illegal supply of authentic products.
Implementing the product serialization can be comparatively tough for you if you are new to tracking and tracing solutions. You need to alter your production processes and manage the data with your distributive partners. Fortunately, there are companies that deliver this much-needed technology with precision and help your brand grow substantially. Invest in your time and money on the solution that brings the desired results instead of spending unnecessarily on outdated technologies which are not of much use.
LetsVeriFy is here to make your work easier!
There is a lot more to do for successfully building your brand. It includes saving your products from counterfeiters, make the supply chain more vigilant, gather the vital information of your product into the database, and manage them. Product serialization will be a productive addition to your digital solutions to keep your brand’s image reputable. While it may take time to implement it but the benefits will be visible in the long run. Trust LetsVeriFy and see the results!