PharmaSecure
Pulkit Kumar, Harpreet Kaur Channi · 2024
Complex pharmaceutical supply chains require openness, traceability, and security for drug safety and efficacy. Counterfeit medications, tracking, and interoperability plague traditional supply chain management systems. This abstract suggests that blockchain technology could change pharmaceutical supply chain management. Pharmaceutical product tracking uses DLT's secure, immutable, and transparent blockchain. All allowed parties can see the blockchain's permanent transaction and ownership records. Being transparent reduces counterfeit drug risks, protecting patient health. The framework also improves supply chain efficiency. Inventory, compliance, and quality control are simplified by blockchain smart contracts. Self-executing contracts decrease errors and accelerate pharmaceutical supply chains. Blockchain needs data sharing and interoperability. One truth serves manufacturers, distributors, regulators, and healthcare providers. Data sharing with permission protects sensitive data and facilitates real-time regulatory compliance and recalls. The structure improves regulatory compliance. Pharmaceutical product quality and safety audits and recalls are faster with an immutable path history. That reduces non-compliance risks and increases stakeholder trust. Scalability, data safety, and system integration are blockchain challenges. For widespread acceptance, these issues must be resolved. Blockchain architecture for pharmaceutical supply chain management may solve various industry challenges. Transparency, traceability, and security improve patient safety, operations, and regulatory compliance. As technology evolves and the pharmaceutical supply chain adopts this new strategy, blockchain's disruptive potential will help.