Blockchain based Pharmaceutical Supply Chain Management System

Abstract

This initiative will use blockchain technology to address issues and inefficiencies in the pharmaceutical supply chain. The traditional pharmaceutical supply chain is vulnerable to problems such as counterfeiting, data inconsistencies, and a lack of transparency.The proposed solution uses a decentralized and transparent blockchain technology to improve the entire traceability, security, and efficiency of the supply chain. The solution uses smart contracts to automate and enforce preset business rules, lowering the risk of mistakes and fraud. Each transaction, from medicine manufacture to distribution and retail, is securely documented in an immutable ledger to provide a tamper-proof and genuine record. This degree of openness gives stakeholders, including as producers, distributors, and pharmacies, real-time information on the status and placement of pharmaceuticals.