The rising importance of product serialization
The rise of counterfeited products is rising, especially after the pandemic. The pharmaceutical industry is facing massive problems with the increased supply of fake medicines. The World Health Organization (WHO) computes that 1 in 10 medical products in low and middle-income nations is falsified. It’s a concerning matter that should be tackled as soon as possible. The serialization is necessary for the products that are at the target of the counterfeiters. It gives the power to the users to track them in the supply chain. Product serialization is a powerful digital solution where a unique serial number is allotted to each product to give it a distinct identity. As a result, the brands and consumers can track and trace products wherever they lie in the processes. This digital solution has the capability to meet regulatory compliance mandates. Pharmaceutical is the only industry where serialization can be completely applied. But the companies still need to explore how ...