The PharmaLedger Association (PLA), a global non-profit organization founded in Basel, Switzerland in 2022, is aiming to revolutionize healthcare by harnessing the power of blockchain and Internet of Things (IoT) technologies. At the recent ASCM Connect Europe Conference in Brussels, Daniel Fritz (Executive Director PharmaLedger Association) and Marco Cuomo, Director Tech Products & Innovation, Novartis shared insights into their mission of providing an open-source, blockchain-based platform for the healthcare sector.
A cornerstone of their innovation strategy is the Digital Trust Ecosystem (DTE). The DTE represents a cooperative network of actors that utilize standardized, secure digital solutions to achieve mutual benefit. This system forms an integral part of their commitment to a resilient Healthcare 4.0 model, in which trust and shared benefit are paramount.
PLA’s innovations are geared towards ensuring patient-centered value, with a commitment to the development of secure, transparent, and efficient solutions. One of the most impactful initiatives presented during the conference is their Supply Chain Traceability project. This project focuses on creating a transparent, reliable, and resilient pharmaceutical supply chain, which is essential in ensuring the safe and timely delivery of pharmaceutical products. By leveraging the capabilities of blockchain technology, they're enabling end-to-end traceability from the point of origin to the point of consumption.
A key part of this ambitious initiative is the development of two major projects: Clinical Supply Chain Traceability and Finished Goods Traceability. Both projects play pivotal roles in the mission to reshape the supply chain management within the healthcare sector.
Clinical Supply Chain Traceability aims to establish a fully transparent, auditable platform that tracks investigational products from sourcing to manufacturing, and finally to the point of material reconciliation at the end of the study. This project can drive high visibility, reduce errors, enhance auditability, and improve patient experiences, making it a significant step forward in the pharmaceutical industry.
On the other hand, Finished Goods Traceability seeks to connect the supply chain for accelerated information sharing, incorporating new partners into a streamlined industry ecosystem based on digital trust. The results are profound, from ensuring a secure and timely supply of medicines for patients to creating efficiencies for hospitals, pharmacies, distributors, wholesalers, and manufacturers.
During the conference, Daniel Fritz and Marco Cuomo highlighted the open-source nature of their blockchain platform. This open-source approach is crucial as it allows for the platform to be continuously developed, updated, and scrutinized by the global developer community, ensuring it stays at the cutting edge of technological advancements.
By pushing the boundaries of blockchain and IoT technologies, PharmaLedger pioneers a new era of transparency, security, and efficiency in the pharmaceutical supply chain.
Blockchain is also one of the topics of the new ASCM Supply Chain Technology Certificate which PMI will offering starting March 2024, powered by 8 webinar sessions where our supply chain experts share case studies and real life use cases for each of the technology topics covered in the certificate. Want to know more? Book a meeting with us!
