Blockchain Technology Impact On Pharmaceutical Industry Training Ppt

Slide 1

This slide illustrates challenges that the blockchain resolves in pharma domain such as compliance, automation, traceability, inventory management and better clinical trials.

Instructor’s Notes:

The multiple issues solved by blockchain in pharma domain are as follows:

Compliance:

• Blockchain is used to add governance and compliance to the pharma supply chain
• It is possible due to key features of blockchain, which include immutability, distributed nature, and transparency

Automation:

• Blockchain uses smart contracts to automate tasks on the blockchain
• In the pharma industry, the smart contract executes notifications in case compliance conditions are not met
• After the notification is executed, all the drug-relevant companies are notified

Better Transparency: 

• Blockchain technology in the pharma industry makes database operations accessible to the public
• There is no need to verify data with any third party system as blockchain validates all information before storing it in the blocks

Inventory Management:

• Using blockchain in pharma for inventory management helps the supply chain system
• By integrating blockchain with the supply chain, pharma companies can manage their inventory better
• At the time of spike in demand, the blockchain-based system alerts manufacturing units to stay ready to produce more

Better Clinical Trials:

• With the help of blockchain, the clinical trial process improves as the information about every stage of the trial can be shared with patients
• Stakeholders will also be informed on a daily basis regarding the trial process stages
• Blockchain helps improves overall clinical trials as it provides better consent transparency and traceability
• Consent forms in the blockchain are time-stamped, and no one can tamper with the information once stored

Slide 2

This slide highlights the impact of blockchain on pharma domain with compliance. It explains that blockchain is used to add governance and compliance to the pharma supply chain. It also includes key features of blockchain such as immutability, distributed nature, and transparency.

Slide 3

This slide highlights the impact of blockchain on pharma domain with automation. It explains that blockchain uses smart contracts to automate tasks. In pharma industry, the smart contract executes notifications in case the compliance conditions are not met and all the drug related companies are notified.

Slide 4

This slide illustrates the impact of blockchain on pharma domain with better transparency. It explains that blockchain helps in making pharma industry database operations accessible to the public. 

Slide 5

This slide illustrates the impact of blockchain on pharma domain with inventory management. It explains that using blockchain in pharma for inventory management helps the supply chain system. Integrating blockchain with supply chain can help pharma companies to better inventory management.

Slide 6

This slide illustrates the impact of blockchain on pharma domain with better clinical trials. It highlights that with the help of blockchain, the clinical trial process improves as the information about each stage of trial can be shared with risks involved also explained. Stakeholders will be informed on daily basis regarding the trial process stages. Getting the time consent process is also streamlined, as it is time-stamped and stored as information in a blockchain, which is impossible to tamper with