Future of Cold Chain: Blockchain’s Impact on Cold Chain Logistics

Future of Cold Chain: Blockchain’s Impact on Cold Chain Logistics

By 2020, pharma cold chain logistics spend is predicted to exceed $16 billion. Despite this huge investment, Pharmaceutical supply chains still face tremendous challenges. We sat down with keynote speaker Jack Shaw, Executive Director of the American Blockchain Council, Technology Futurist to discuss this.  Below is a preview of the interview:

What will be the Blockchain’s direct impact on the Pharmaceutical supply chain?

Pharmaceutical supply chains face tremendous challenges. Ingredients get lost, chemicals become inactive due to insufficient temperature control, medicines are wrongly prescribed by malfunctioning computer systems, and counterfeit medications slip through cracks in security.

All of these problems are causing pharma companies to turn to emerging technologies to improve visibility and control across the supply chain. Many companies have begun to realise the specific utility of blockchain technology in this endeavor.

The immutability of records, easy and transparent sharing of data among authorized ecosystem participants, and the virtually hack-proof capabilities of Blockchain (also known as Distributed Ledger Technology, or DLT) make it a powerful and effective choice for better managing supply chains of all kinds.

How will Blockchain technology affect cold chain logistics now and in the near future?

Blockchain offers an efficient way for wholesalers and dispensaries to optimize their inventory management and control, anticipate supply shortages, and improve data integrity as well as the distribution of data that has not previously existed.

Download the full report to get more insights on:

-Blockchain's direct impact on the Pharma Supply Chain
-Blockchain technology's affect on cold chain logistics
-Cold chain pharmaceuticals' preparation for the future of technology

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