Brands may proactively use accurate data and insights to handle challenges related to product sustainability, production efficiency, regulatory compliance, and risk by tracing an individual product’s unique journey through each step of the supply chain.
Blokchi has created a highly flexible and scalable end-to-end track and trace solution that enables unit-level product traceability across the supply chain. In addition to applications for manual track and trace and supply-chain inspections, Blokchi’s blockchain-based solution offers diverse integration choices.
End to end track and trace by Blokchi allows you to locate any item’s current and previous locations in your supply chain. It’s a vital instrument that no pharma business can afford to ignore, especially now that rules demand to track and trace capabilities and precise obligations for documenting and sharing supply chain data.
The advantages of pharmaceutical track and trace
A track and trace system for pharmaceuticals, when designed and implemented correctly, does precisely what its name implies: it tracks a drug, a vaccine, a medical device — anything in any configuration — as it moves forward through the supply chain and traces backwards to reveal where it has been in the supply chain, all the way back to the individual ingredients or components that combined to create it.
You can keep track of every item in your supply chain with tracking. It has numerous advantages, including improving operational efficiency and speed, preventing counterfeit, contaminated, or expired medications from entering the supply chain, preventing theft and diversion, ensuring product safety and environmental stability and preventing counterfeit products.
Supply Chain with Traceability.
You can follow the trail of anything in your supply chain with traceability. Quick and effective product returns; swift, modern recall management capabilities; brand protection; and developing consumer confidence are just a few of its numerous advantages.
Increased adoption of advanced track and trace systems, favourable government intervention, and strict laws and standards for serialization deployment influence market growth. Pharmaceutical businesses are anticipating global regulations on anti-counterfeiting and drug traceability.
Several governments throughout the world have chosen to implement serialization legislation. Serialization is becoming a focal area for pharmaceutical producers and supply chain partners as regulatory compliance increases. Efforts are being made to combat medicine counterfeiting, make it easier to trace returns and recalls, and improve supply chain visibility.
The track and trace solutions market is divided into hardware systems and software solutions based on product type. Printing and marking solutions, monitoring and verification solutions, labelling solutions, and others are all part of the hardware systems market.
Plant management software, line controller software, bundle tracking software, and other software solutions make up the software solutions industry.
Due to increasing adoption in biotechnology, pharmaceutical, and medical device companies to continuously manage manufacturing facilities, product lines, case and bundle tracking, and warehousing and shipping, the software solutions segment is expected to grow at the fastest CAGR during the forecast period. The track and trace solutions market is divided into technology-based categories: barcode and radio-frequency identification (RFID). The RFID industry is expected to grow significantly in the following years, thanks to increased adoption in pharmaceutical and biotechnology industries and hospitals.
These applications cover inventory control, equipment tracking, people tracking, counterfeit medication and medical device protection, and out-of-bed (OOB) detection and fall detection.
The track and trace solutions market is divided into application-based serialization solutions and aggregation solutions. Bottle, label, carton, and data matrix serialization are all part of the serialization solutions segment.
Bundle aggregation, case aggregation, and pallet aggregation are the three sub-segments of the aggregate solutions segment. According to the parent-child concept, aggregation enables healthcare enterprises and organizations to trace their products from the manufacturing process, which is fueling the market growth of the aggregation solutions segment.