Blockchain-Enabled Solutions for the Pharmaceutical Industry

3Blockchain Framework for Pharmaceutical Supply Chain Management

Mohammed Majeed¹, Charles Asare², Beulah Hilda Walden^2*, Nana Arko Cole³, Kwame Ntim Sekyere⁴ and Bernard Ofosu Boateng⁵

¹Marketing Department, Tamale Technical University, Tamale, Ghana

²Ghana Communication Technology University, Accra, Ghana

³University of Professional Studies, Accra, Ghana

⁴Department of Marketing, Innovation, Strategy and Innovation, University of Leicester, Leicester, UK

⁵Department of Strategy and Leadership, University of the West of Scotland, London, UK

Abstract

There has been, in recent years, an increase in scholarly debate and research around blockchain technology (BCT). Academic researchers together with industry players have paid much attention to this new technology. BCT is a system that aims to decentralize transaction recording, offering advantages in terms of efficiency, durability, and information verification. Additionally, it functions as a database overseeing an expanding collection of records known as nodes. Therefore, additional research is needed to improve the efficiency and effectiveness of the pharmaceutical supply chain system.

Keywords: Pharmaceutical, technology, chain, supply, durability, healthcare

3.1 Introduction

The limited ability of parties to verify item track sales redirection, manage the chain, carry out product recalls, and monitor product shortages and expirations is often a result of the nature of the pharmaceutical supply chain and inadequate technology ...