ABSTRACT
Regulating and monitoring a traditionally fragmented pharma supply chain has been a global challenge for decades. Without a trusted system and strong collaboration between stakeholders, threats such as counterfeits can easily intercept the supply chain and cause monumental disruptions. Today, the COVID-19 pandemic has accelerated the need for greater data transparency, better deployment of technology, and improved ways of connecting stakeholder information along the supply chain. There is a need for improved ways of working to help build up supply chain resilience, and one way is by implementing better end-to-end traceability using blockchain technology such as Hyperledger Fabric. This paper will explore the business value that blockchain brings to the pharma supply chain with better end-to-end traceability, using the example of an industry-grade blockchain solution called eZTracker. Through six key features, pharmaceutical manufacturers, patients, and Healthcare Practitioners (HCPs) can now participate in data sharing, with extended use cases of integrating blockchain with warehouse platforms, a patient-facing mobile application, and an interactive dashboard for real-time verification and data transparency. Beyond anti-counterfeit verification, other potential use cases include effective product recall management, cold chain monitoring, e-product information, and more. The effectiveness of a traceability solution is heavily dependent on the amount of data collected and is affected by poor adoption and scalability. Existing limitations that need to be addressed include the lack of mandated serialization in Asia and blockchain interoperability. To maximize the value of blockchain, collaboration is the key. Pharmaceutical manufacturers need to invest in new technologies, such as blockchain, to help them break out of data silos and operationalize data to build supply chain resilience. Pharmaceutical supply chain is the backbone of a US$1.27 trillion industry,1 but because of its highly complex and fragmented nature, it is hard to regulate and protect, and this makes it a valuable target for opportunistic parties such as counterfeiters looking to profit.2 As a result of the COVID-19 pandemic, there has been greater emphasis on transparency of data and connecting stakeholders along the pharma supply chain in real-time in the last few years. With the introduction of blockchain technology, companies are now able to implement solutions with more effective track and trace results, providing quality assurance to pharmaceutical manufacturers, patients, and Healthcare Practitioners (HCPs), and even improving operational efficiencies. This paper seeks to explore the positive business impact of end-to-end traceability using blockchain technology, and the effects it brings about, such as improving supply chain resilience and combating counterfeits, as seen in successful live use cases in Asia.