The Increasing Need for Traceability in Pharma Supply Chain

As the current pharma supply chain is challenged by the lack of visibility and a number of new compliance regulations, most companies seek enhanced traceability. Pharmaceutical companies must adopt tracking technology to ensure product integrity and achieve global compliance.

Drug counterfeiting is a well-known and documented problem affecting human lives, but also the pharmaceutical industry reputation and ROIs. Within the United States, the FDA has enforced and implemented the Drug Supply Chain Security Act to protect consumers against counterfeit drugs. Act to protect consumers against falsified medicinal products. The Global Traceability Standard for Healthcare (GTSH) defines international process standard, explains and sets minimum requirements for all stakeholders in the healthcare supply chain. However, full implementation as a cohesive solution of global traceability standards is still in progress. Blockchain can be a comprehensive, all-inclusive solution which saves lives and dollars seamlessly in the future.

Critical support for combating counterfeit medicines and vaccines are substantial investments. Indeed, in the folding carton sector, anti-counterfeiting and safety procedures will continue to play a major role. The traceability solutions are one of the four biggest technological developments set to transform the market by 2022, according to the report by the design office of Smithers Pira titled "The Future of Folding Cartons to 2022."