Blockchain: Will it Transform the Pharmaceutical Supply Chain?
The pharmaceutical supply chain is becoming an increasingly complex system, making it harder for drug manufacturers and their partners to ensure safe and timely delivery. Keeping track of products is not always a transparent process.
Thousands of people and companies interact with supplies and products being shipped, including those that require special care because they are perishable, fragile or very expensive. Trading partners in the supply chain typically exchange contracts, agreements and transactions using individual administrative systems (some still paper-based), often duplicating work and wasting time. Supply chain partners also use legacy systems of varying sophistication with different levels of speed, functionality and security, creating further inconsistency and slowdowns.