US-based label printer Outlook Group has partnered with technology company LocatorX to offer QR code labels that will enable clients to track product shipments.

Under the collaboration, Outlook Group will print unique LocatorX-certified QR Codes on product labels, packaging and cases.

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QR codes will be attached to products at the client’s manufacturing plant and can be scanned by a smartphone at all stages of the supply chain.

It will help to avoid diversion of products to unauthorised distributors.

Codes will help to reduce losses incurred due to counterfeit products and enable the consumers to receive more product information.

LocatorX president and CEO Scott Fletcher said: “It is my pleasure to announce that Outlook Group customers can now access the secure, robust framework for inventory tracking and open up new direct-to-shopper / customer marketing opportunities that the certified QR Code makes possible.

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“Outlook Group customers can now access the secure, robust framework for inventory tracking and open up new direct to shopper / customer marketing opportunities.”

“We have already signed the first customer to take advantage of this partnership – a multi-billion dollar CPG brand that will utilise Outlook’s broad breadth of printing and packaging services and the certified QR Code’s secure log of information to prevent counterfeiting, diversion and fraud.”

According to a 2015 report by International Chamber of Commerce’s Business Action to Stop Counterfeiting and Piracy (BASCAP), the US economy loses around $370bn to $570bn annually to counterfeit products.

The figure increases from $770bn to $960bn internationally every year.

Outlook will use its high-speed variable digital press to print custom labels with certified QR codes on each product package.