Enhancing Pharmaceutical Supply Chains through Blockchain Technology on Hyperledger Fabric Implementation
Poorti Sharma 1*, Syed Sajid Ali Syed Sabir Ali 1
Journal of Angiotherapy 8(9) 1-7 https://doi.org/10.25163/angiotherapy.899872
Submitted: 12 July 2024 Revised: 28 August 2024 Published: 04 September 2024
Abstract
Background: The complexity and dynamism in business environments necessitate the adoption of advanced technologies to enhance supply chain (SC) processes and routines. In the pharmaceutical industry, maintaining high standards of safety and visibility within SCs is critical. Challenges arise from the proliferation of online medical stores and the need for uniform medication safety standards. The shift towards digital SCs has brought about significant changes, demanding improvements in efficiency and transparency. This study explores the potential of Blockchain technology (BcT) to revolutionize SC processes, particularly in the pharmaceutical sector. By integrating BcT, which offers transparency and security, pharmaceutical SCs can address issues related to data integrity, cost management, and operational efficiency. Methods: A qualitative content analysis was conducted to assess the impact of BcT on SC practices, using transaction cost economics. The study evaluated how BcT can enhance visibility, reduce transaction costs, and improve the management of pharmaceutical SCs. Hyperledger Fabric, a BcT platform, was used to design and implement a secure medicine distribution system in a smart hospital setting. Results: Implementation of BcT through Hyperledger Fabric demonstrated significant improvements in transaction speed and efficiency. Performance tests showed consistent reaction times and transaction rates even with increasing user loads. For instance, the system maintained a reaction time increase of only 20 milliseconds with 300 users and achieved a mean transaction processing rate of 120 transactions per second with a user group of 300. Conclusion: The integration of BcT in pharmaceutical SCs addresses key issues related to safety, transparency, and efficiency. By utilizing BcT and Hyperledger Fabric, the study provides a robust framework for managing pharmaceutical supply chains, improving data integrity, and reducing transaction costs.
Keywords: Blockchain technology, pharmaceutical supply chain, Hyperledger Fabric, transaction cost economics, digital supply chain, data integrity.
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