School of Management Studies, University of Hyderabad (UoH) and pharma company Dr Reddy's Laboratories have joined hands to develop cold chain logistics solutions which will prove to be of great help to pharmaceutical firms.
More often than not, pharmaceutical companies need to face several compliance, reconciliation and provenance issues when it comes to their supply chain, this is especially true when it comes to exporting to other countries critical drugs and vaccines as well. Due to lapses and loopholes in the whole process, their projects are often delayed or even rejected. But what a Blockchain integrated Internet of Things (IoT) solution can help with is to ensure that a transparent method is adopted to share information with all the stakeholders involved in the end-to-end supply chain network.
Since the information in blockchain is not just immutable, but also audit-ready, this will go a long way in enhancing trust and efficiency in the system. This initiative will result in a first use case which will lead to an increase in exports for the pharma firms.
This project is supported by the Institution of Eminence (IoE) entrepreneurial research grant of UoH.