Pharmaceuticals: Supply Chain Management make an impact...

be monitored and the compliance of stakeholders throughout the distribution network can thus be guaranteed. This intelligent, digitized network,, once installed, is a simplified, more accurate method of ensuring compliance and better adherence to standards in the pharma supply chain. Blockchain will simplify monitoring compliance, deliver transparency in business-to-business relationships, and ensure that drugs are secure at all times, which is critical for the safety of consumers and brand image.

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Blockchain technology can also transform the way pharma companies track the quality and efficiency of the entire manufacturing process. If this technology is leveraged more heavily (along with AI and IoT), it is possible to identify where improvements can be made. This is done by looking in closer detail at elements across the supply chain and tracking quality and production metrics for each batch produced, the quantities shipped, and the performance of each drug. Integrating these technologies is a big step towards the ultimate goal of using AI to build predictive networks that give the data analysis needed to generate even more improvements in the pharmaceutical sector.

It is essential to work together to make the supply chain flexible,

secure and efficient. In this uncertain, fast- changing world, the future of the pharmaceutical industry lies in transforming conventional supply chains to agile, dynamic and interconnected networks that enable a seamless flow of information.

Blockchain is a critical part of protecting and improving the operation of the pharmaceutical supply chain and should not be understated. Implementing this technology delivers real ROI, through its role in anticounterfeiting, developing fast, accurate and clear communication, and improving compliance. It will help the industry thrive through increased efficiency and protect its customers by ensuring consistent, safe and affordable medicines.

References 1. Healthcare Weekly, “Blockchain in Healthcare”, blockchain-in-healthcare-guide/

2. BIS Research: industry-report/global-blockchain-in- healthcare-market-2025.html

3. Healthcare Weekly, “Blockchain in Healthcare” Report, https:// healthcare-guide/

Further information Sukesh Kumar Thogaru Executive Assistant to the CEO

ACG Inspection Systems Pvt. Ltd. (part of ACG Group) E: sukesh.thogaru@acg- W:

Author: Sukesh Kumar Thogaru

Sukesh Kumar Thogaru is Executive Assistant to the CEO of ACG Inspection Systems Pvt. Ltd., part of ACG Group, which offers end-to-end pharmaceutical industry manufacturing solutions that include anti-counterfeit measures. He is an alumnus of the Indian Institute of Management Rohtak and has more than five years of experience working with strategy task force teams as a Business Enabler and Innovation Champion. His current position involves him working with the company’s leadership team in the area of strategy formulation to enable accelerated business growth.

04/08/2020 15:42 Autumn 2020


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  

  

 


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