Companies test prescription blockchain system
Walmart is among the companies that will work to conduct a test of the use of blockchain technology to track products in the pharmaceutical supply chain.
The Bentonville, Ark.-based retailer will partner with IBM, KPMG and Merck in a Food and Drug Administration program that will seek to develop an “electronic, interoperable system” that can identify and trace certain drugs as they are distributed in the United States.
The companies will create a shared permissioned blockchain network that allows real-time monitoring of products. The proposed network would seek to help reduce the time needed to track and trace inventory; allow timely retrieval of reliable distribution information; increase accuracy of data shared among network members; and help determine the integrity of products in the distribution chain, including whether products are kept at the correct temperature.
“With successful blockchain pilots in pork, mangoes and leafy greens that provide enhanced traceability, we are looking forward to the same success and transparency in the biopharmaceutical supply chain,” said Karim Bennis, Walmart’s vice president of strategic planning and implementation in health and wellness. “We believe we have to go further than offering great products that help our customers live better at everyday low prices. Our customers also need to know they can trust us to help ensure products are safe. This pilot and U.S. Drug Supply Chain Security Act requirements will help us do just that.”
Blockchain is designed to establish a permanent record and may be integrated with existing supply chain and traceability systems, the companies said. The pilot project is scheduled to be completed late this year.
The Bentonville, Ark.-based retailer will partner with IBM, KPMG and Merck in a Food and Drug Administration program that will seek to develop an “electronic, interoperable system” that can identify and trace certain drugs as they are distributed in the United States.
The companies will create a shared permissioned blockchain network that allows real-time monitoring of products. The proposed network would seek to help reduce the time needed to track and trace inventory; allow timely retrieval of reliable distribution information; increase accuracy of data shared among network members; and help determine the integrity of products in the distribution chain, including whether products are kept at the correct temperature.
“With successful blockchain pilots in pork, mangoes and leafy greens that provide enhanced traceability, we are looking forward to the same success and transparency in the biopharmaceutical supply chain,” said Karim Bennis, Walmart’s vice president of strategic planning and implementation in health and wellness. “We believe we have to go further than offering great products that help our customers live better at everyday low prices. Our customers also need to know they can trust us to help ensure products are safe. This pilot and U.S. Drug Supply Chain Security Act requirements will help us do just that.”
Blockchain is designed to establish a permanent record and may be integrated with existing supply chain and traceability systems, the companies said. The pilot project is scheduled to be completed late this year.