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.
Back to top
Deloitte Analytics solutions
We provide our clients with business-ready innovations in analytics that are difficult to match. We are at the forefront continuously developing new science-led, issue-driven analytics solutions to meet our client’s challenges. Our suite of analytics solutions can help deliver an insight-driven advantage today.
Find your business-ready solutions here.
Full-Spectrum Customer Analytics
What does it take to deliver what customers really want today? You need to understand their issues, goals, preferences, behaviors—even their lives. Customer analytics solutions give you view of your customers and your business, providing insights that can fuel smarter decisions today.
Blockchain for Customer Loyalty Rewards
Customer loyalty programs are not realizing their full potential due to low client retention and redemption rates, time delays, and high costs. That’s where blockchain comes in.
Of all the levers that can help drive profitable growth, pricing may be the most direct. Today’s pricing leaders drive value through specificity, granularity, and a bias for action. But achieving that leadership is easier said than done. When companies don’t manage , they can lose value—and can’t even be certain how much or where from.
Back to top