Counterfeits in manufacturing cost the U.S. economy more than $250 billion in lost revenue and 750,000 jobs annually. Chinese businesses have created an industry around electronic counterfeits, taking advantage of today’s “trusted supplier” networks, and the global trade in counterfeit electronics parts is growing at an accelerated rate resulting in higher costs and unreliable products.
Here are four recent examples of the $250 billion problem:

Major OEMs are considering reshoring as a solution to increasing quality control. And with rising labor costs in China, the risks to total costs cause many operation leaders to pause and reconsider their supply chain strategies.