SAP has recently launched a new blockchain system that would be used to track drugs and reduce counterfeit products on the market.
The intention is to allow wholesalers to to authenticate pharmaceutical package. The supply chain in the pharmaceutical industry will be enhanced with the latest system developed by SAP. The information was released by SAP in a press release on January 16th.
Wholesalers in the United States meet 60 million returns annually with an estimated value of close to $ 7 billion. This solution will help customers comply with the US Drug Supply Chain Act (DSCSA). In this way, the fake and contaminated drugs will be out of the market, improving the health of the customers.
Jeffrey Denton, senior director, Global Secure Supply Chain, AmerisourceBergen Corporation, commented on this implementation:
"Blockchain is leading a new generation of business applications that could dramatically improve co-operation for wholesale distribution.The SAP blockchain-based solution offers the best opportunity to fully meet our interoperability needs with our business partners and their solutions, and to remain compliant with the US DSCA. "
Buyers can easily verify product codes, expiration date and more with this new system. To create this software, the company worked closely with AmerisourceBergen, Boehringer Ingelheim Ag & Co and other companies in the pharmaceutical industry.
Dr. Oliver Nuernberg, SAP's chief product owner, commented that the new supports for blockchain the needs of the sector for a new and unchanging ledger with information on drugs.
SAP is working in many different sectors trying to explore new solutions with DLP (distributed ledger technology). Blockchain technology helps many companies and companies improve their efficiency and offer better products and services to users all over the world.
There are several companies like JD.com or Carrefour that work with DLT to track company products until they are sold by these companies. In this way, it is possible to detect when there is a problem with the supply chain or when one of the parties involved has not followed the rules necessary to comply with local regulations. Customers can always check where their product was produced and more.