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 Journal of Statistics and Management Systems cover
Hybrid ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510

Monthly Journal: Publishes peer-reviewed aticles on theoretical and applied statistics and management systems, expoloring industrial statistics, actuarial and decision sciences.

Issues up to 2022 co-published with and available at:Taylor & Francis Online
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Open Access Research Article

Blockchain technology in pharmaceutical supply chain : Ensuring transparency, traceability, and security

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pp. 417–428Vol. 27Issue 2March 2024DOI: 10.47974/JSMS-1266XML
Published Online:
30 Mar 2024
Article type:
Research Article
Language:
EN
Article no.:
JSMS-1266
Pages:
417–428

Abstract

Transparency, traceability, and security are three major challenges that blockchain technology has addressed in the pharmaceutical supply chain, making it a disruptive solution. The incorporation of blockchain technology to produce an immutable, decentralized ledger that documents the full path taken by pharmaceutical products from producer to end-user is examined in this abstract. The solution ensures tamper-resistant records by utilizing smart contracts and cryptography concepts, hence mitigating the risk of counterfeit medications. Transparency is improved via real-time supply chain visibility, which gives stakeholders the ability to monitor batch information and confirm product authenticity. Blockchain’s decentralized structure improves security by reducing the possibility of fraud and unauthorized access. By means of blockchain implementation, the pharmaceutical business may create a strong, dependable, and effective supply chain ecosystem, thereby promoting safer and more dependable medicine access for patients across the globe. 

Keywords

Subject Classifications

68T07

References

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