Supply Chain Management Using Blockchain and IoT in Pharmaceutical Industries
Mohammad Zayd, Arpit Johari, M. Manimozhi · 2023
The pharmaceutical industry is very important for the functioning of modern society with its huge impact on the economy. The pharmaceutical industry has contributed to increasing life expectancy, improving patient conditions, and providing the necessary medicines and treatments to millions of people around the world. The blockchain and IoT based pharmaceutical supply chain project is an initiative that aims to improve the existing pharmaceutical supply chain models by using cutting-edge technologies such as IoT and blockchain. The system developed will collect and monitor real-time data on pharmaceutical products such as temperature and humidity to ensure the condition of products. To enhance the transparency and security of the pharmaceutical supply chain blockchain which is an immutable and decentralized ledger-based system in combination with IoT to ensure the integrity of the data gathered using IoT devices such as sensors are used. Smart contracts are used to automate supply chain processes. The project faces constraints such as cost, integration with current systems, trade-offs between security and performance, decentralization, and scalability. By taking constraints and other factors into account, we aim to deliver a project that will improve supply chain outcomes.