Investigation and assessment of blockchain technology adoption in the pharmaceutical supply chain

The global pharmaceutical industry has gone through several changes in the past decade related to the adoption of new technologies. The challenges that are faced by this industry mostly involve counterfeit drugs and operational issues. The involvement of cold chain for vaccines, medicine etc. is also impacting the secure logistics and transportation. Newly introduce blockchain technologies have capabilities to address these issues. The challenge which needs to address is the requirement of tracking the product authenticity from start production to consumption point to prevent further financial losses. The present study has proposed the investigation and assessment of blockchain for integration in the supply chain model of the pharmaceutical to securely record transactions between parties enhancing trust and transparency. The blockchain adaptation and implementation to address the supply chain challenges are discussed. (c) 2021 Elsevier Ltd. All rights reserved. Selection and peer-review under responsibility of the scientific committee of the International Conference on Technological Advancements in Materials Science and Manufacturing.