The Benefits of Blockchain in Pharmaceutical Manufacturing
TECHNOLOGY
“Blockchain can provide a safe and easy way to share authenticated information across organisations ”
ARUL JOSEPH SENIOR DIRECTOR , PHARMACEUTICAL DEVELOPMENT AND CLINICAL SUPPLY CHAIN , AVANIR PHARMACEUTICALS
“ Blockchain can provide a safe and easy way to share authenticated information across organisations ,” explains Joseph . “ For instance , in the pharmaceutical supply chain , many different organisations are involved in making a pill and getting it to a patient such as manufacturers , packagers , distributors , logistics providers , shipping companies , clinical sites for clinical studies and wholesalers and pharmacies for a commercial supply chain .
“ Blockchain can improve traceability by increasing end-to-end visibility of the supply chain with data . As the stakeholders themselves verify the authenticity of the record , blockchain has the advantage of not requiring any single central owner of all information , so organisations don ’ t need to share their internal systems or proprietary information , only data shared for that record or transaction to be verified need be shared transparently across all participants in the supply chain .”
The Benefits of Blockchain in Pharmaceutical Manufacturing
Blockchain can help ensure that there is reliable , accurate data and a single reliable version of the truth that is shared by every participant in the pharmaceutical manufacturing and supply chain . It can increase end-to-end visibility of the supply chain with data . Blockchain can bridge barriers between stakeholders by giving all parties the same , real-time , accurate view of the supply chain . This is an important factor for ensuring manufacturing and supply chain robustness .
- Arul Joseph , Senior Director , Pharmaceutical Development and Clinical Supply Chain , Avanir Pharmaceuticals
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