Customer Insights Analytics Case Study

Biotech firm pilots blockchain to monitor real-time product temperature changes

Within health care’s challenging regulatory environment, leaders need more transparent, yet secure and trustworthy, data exchange amongst external partners within the health care ecosystem to deliver value-driven, health care innovation. Executives at one of the world’s largest independent biotechnology companies sought to investigate the application of blockchain, a data repository that’s ironclad safe, to achieve this objective. One focus area they sought to address was supply chain.

For certain drugs, maintaining a consistent temperature is critical to their effectiveness. The company chose to apply blockchain with a specific assignment: tracking, monitoring, and logging product temperature. Product sensors could deliver real-time temperature measurements at each stage in the process and stakeholders would be able to securely exchange data and access stored records they could trust at every step, from the manufacturer to the distributor to the pharmacy.

By thinking big, but starting with small, controllable tasks like tracking product temperature, the company capitalizes on the opportunity of the new technology, while reducing risk. The project revealed that blockchain would be an innovative approach towards securing data exchange among partners: it improves transparency, ensures product quality, and creates a faster path for tracking temperature. Piloting the concept is the next step to prove that the approach can drive significant value.

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