Auto Parts like Lubricants, Filters, Brake Pads, Bearings, Spark Plugs are the most counterfeited auto parts. Counterfeit products infiltrate at warehouse, transport, and at dealer level.
Why Counterfeiting is such big industry? Mathematics behind Counterfeiting. – CPIGS
Financial Loss to Auto Parts Industry
Automotive Components Manufacturers Association suggests about 20 percent of all road accidents in India, directly or indirectly can be attributed to the use of counterfeit auto parts. In 2012, India recorded 490,383 road accidents, with fatalities standing at 138,258. Not only this, the fake parts market results in a huge loss for the government, to the tune of about INR 2,200 crore annually in tax revenue.
CPIGS Anti-Counterfeit Technology & Solution
At CPIGS, we believe that applicable technology that allows customers to verify the authenticity of a product would be appreciated by customers and brands alike. A brand may put a unique identifier on each product it is producing. This enables a buyers to independently verify the product identity over a web portal or mobile app in real time to tell the real ones from fakes. It could be QR encoded with information that a digital device can read. Certain industries like Auto Parts may need additional layers of security.
Combination of linked QR Codes on each Product Unit, encoded numbers inside Cap, QR Code on Outer Pack and Carton to offer strong deterrence to counterfeit. Track & Trace capability of QR Codes ensure product integrity through all touch points.