Leveraging Next-Gen Technology For Supply Chain Security

Global supply chain disruptions continue as part of both a national and global discussion. There is a need for a greater focus on supply chain security as part of this discussion as there is an increasing amount of counterfeit parts and goods within global supply chains. While counterfeit activity is an economic burden to companies and the global market, there are also legitimate concerns on consumer safety, consumer trust and company brand management.The aim for this paper is to identify the concern and extent of the counterfeit problem and identify the use of next-gen technologies to provide brand protection and combat supply chain disruptions. With a focus on the pharmaceutical industry, the fastest growing segment of counterfeit goods, this paper highlights new brand protection technologies such as the use of QR codes and the 3D printing of custom goods. More importantly, the paper will underscore the need for increased and upgraded digital security measures through the use of both blockchain and Internet of Things (IoT) technology to enhance trust and security throughout the supply chain.One of the authors is involved in the importation to the U.S. of olive oil from Italy and has adopted anticounterfeit and brand protection measures to provide B2B and B2C supply chain transparency, traceability and protection. This is important, as by some estimates, as much as 80% of the supply chain of olive oil is fraudulent and counterfeit.