We track how consumables move from manufacturer to the end consumer, providing stakeholders with visibility and improving demand management, revenue forecasting and overall performance management.
Blockchain provides a full audit trail of data, creating an everlasting means of record keeping along a supply chain.
All blockchain transactions are timestamped and tamper-proof, providing a single source of integrity.
Continuous real-time tracking of data is facilitated through the use of smart contracts across the supply chain.
Blockchain enables peer-to-peer interactions which can be trusted based on the digital signatures.
Capability to monitor events and metadata associated with a product including temperature and crucial variabilities.
Effective governance in place to enable communication, risk reduction and trust among the involved parties.
The ability to adapt rapidly to events or issues, run various scenarios, without significantly increasing operational costs.
Standards and controls to provide evidence that regulatory conditions are met.
According to IFAH-Europe, obstacles to profitability (including loss of sales due to counterfeiters) for veterinary pharmaceutical manufacturers include a high administrative burden. It is estimated this burden is at 13% of the sector’s annual turnover, which is double that of the human medicines market. These expensive tangents lead to a lack of further investment in critical research and development that would otherwise help maintain current ranges of products and expand medicines availability.
Several covert solutions have already been implemented in the food & pharmaceutical supply chain to offer an extra level of security, including UV light or temperature-revealed hidden text. High-value pharmaceuticals are protected by RFID tags hidden under labels or within the packaging where the products can then be scanned and tracked by RFID readers to match the data to medical databases.
These databases however, still rely on siloed data sources and exchanges of information via two-way interactions, suggesting that the marketplace lacks a technology solution for the problem.
The Batch Block team is investigating problems associated with the food and pharmaceutical supply chain management in conjunction with the expertise garnered from within the University of Surrey. In conjunction with the initial stages of academically verifiable research, the team is building the Batch Block extensible platform to address the issues causing obstacles for necessary R&D that both the food and pharamaceutical supply chains face.
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