There are some concerns with regards to Supply Chain Management in the pharma industry, some of which are counterfeiting, inefficiencies and opaqueness. Secured adoption of Blockchain technology can solve these problems and provide a secure and transparent technology framework for supply chains of pharmaceuticals. Among the players of this change is a Madurai based IT solution Justtry Technologies, which has been providing solutions based on blockchain technology in the supply chain of pharmaceuticals to increase its credibility and reliability.
Blockchain brings change with a distributed record of exchanges where by every transaction is recorded in an irrevocable manner. It also improves the supply chain management to enable a company to monitor the supply chain process from production to delivery. Blockchain brings the complete and guaranteed records of origin of products in the pharmaceutical companies and hence eradicating counterfeits.
Blockchain also helps in enhancing the supply chain management which leads to less paperwork as well as eliminates the need for agree and fulfill contracts by way of smart contracts. It reduces delays, brings costs down and enhance the general efficiency of a business. Further, blockchain technology solves the problem of reliable audit as per the Companies Act and other applicable laws in force and best practices in regulating the companies’ performance and rendering all transactions transparent and more secure.
At Justtry Technologies we have largely focused our blockchain solutions to the context of the pharma-sector. Clients’ needs are considered by our team when developing and integrating blockchain solutions for supply chain management.
Our services range from design and development of block chain systems and smart contracts as well as incorporation and enhancement of our existing supply chain structure. The objective of our solution is to deliver a comprehensive and highly reliable solution to the pharmaceutical distribution companies enabling them to improve the supply chain security and functionality.
The use of blockchain technology is promising to bring significant changes in pharmaceutical supply systems in terms of security, accountability and speed. When you work with Justtry Technologies you have an opportunity to use the potential of the blockchain to solve supply-chain issues and advance the pharmaceutical sector.