12th Annual International Conference on Industrial Engineering and Operations Management

Exploring Supply Chain Blockchain Potential in the Pharmaceutical Industry

Georgios Gogos, Ilias Vlachos & Giannis T. Tsoulfas
Publisher: IEOM Society International
0 Paper Citations
Track: Biomedical Devices and Systems

This study analyses blockchain technology with respect to its advantages and limitations as well as its application in the context of pharmaceutical supply chains. A qualitative analysis was conducted among employees of a pharmaceutical company belonging to the Big Pharma. The analysis was performed using semi-constructed interviews aiming to draw conclusions about possible applications of the blockchain technology in the pharmaceutical supply chain, the solutions that it could provide and the readiness of the industry to adapt this technology. The results showed that the current supply chain technologies and systems, despite their usefulness, have some significant disadvantages that can be addressed by blockchain technology. Furthermore, it was noted that blockchain is a well-known technology to the central management team of the company that pinpointed as main advantages privacy, security, traceability, and anti-counterfeiting of medicine. The innovative technology is expected to change the industry and could be applied effectively in the pharmaceutical supply chain operations due to the great advantages that it can provide to the stakeholders involved. Finally, the readiness of the pharmaceutical industry to embrace blockchain technology was found to depend on each company’s willingness to invest money on contemporary supply chain technologies.

Published in: 12th Annual International Conference on Industrial Engineering and Operations Management, Istanbul, Turkey

Publisher: IEOM Society International
Date of Conference: March 7-10, 2022

ISBN: 978-1-7923-6131-9
ISSN/E-ISSN: 2169-8767