Will blockchain be the answer to Pharma’s supply chain problems, reports Supply & Demand Executive. 

There is plenty of buzz around the potential for blockchain technology to transform and secure supply chains for increased, immutable chain of custody and tracking of products as they move through distribution channels. 

With the mounting challenges brought about by the rising customer demands and complexity of the work environment, companies are always looking for ways to improve their operations and deliver the best service. Technology is one thing that promises to transform different industries and facilitate innovation. Supply chain is one of the industries that have benefited immensely from technology. Here are some of the technologies that you can make use of if you are to be competitive:

I don’t know if Americans are getting healthier, but I do know they’re getting treated more. In 2009, American patients received just under four billion prescriptions and by 2016, doctors were signing about 4.45 billion per year. Some drugs may be widely manufactured, while others may originate from a single compounder, but wherever they come from, they go to every corner of the globe. There can be few greater logistical challenges than keeping track of all this medicine as it travels across oceans and continents, conveyed by containers, planes, trains, boats and even bikes and stored in various conditions. How can governments, manufacturers, hospitals, pharmacies and consumers maintain and trust this supply chain? Might blockchain, a new but versatile technology, provide the answer?