Now that effective COVID vaccines are being tested and distributed to affected countries all over the world, reliable Cold Chain / Supply Chain management solutions are needed to ensure the safe delivery of these life saving vaccines. Using the latest technology, advanced GPS systems, and a tried and true temperature-controlled pharma logistics formula, companies like Cold Chain Packing & Logistics are making this happen.
One way that Cold Chain Packing & Logistics is able to increase the security and accuracy of their tracking and logistics is through the use of blockchain technology. From increased transparency and security, to reduced costs and greater traceability, blockchain technology is changing the way important vaccines reach their destinations around the world.
Understanding Blockchain Technology
With its distributed ledger structure, Blockchain allows authorised users to access a wide range of information simultaneously. Blockchain builds trust and improves efficiency, while enabling businesses to scale up. Effective Blockchain solutions are adaptable across a wide range of industries including the packing and shipping sector because it is a disruptive technology that can transform traditional solutions in today’s business environments.
With that in mind, we are going to take a look at some reasons why effective blockchain solutions are important for supply chain management:
Transparency- blockchain solutions for supply chain management make transaction histories more transparent and accessible. Because the technology is essentially a digital form of distributed ledger, any authorised user in the network can obtain identical documentation. The only way to update shared details is through consensus. It is not possible for a fraudster to change a transaction record because it will require a collusion of the whole network. Greater transparency allows Blockchain data to be much more consistent and accurate.
Security- blockchain is inherently more secure than traditional record-keeping systems. Any additions and modifications made must be agreed upon before they can be recorded. After an approval, the record is encrypted, and it’s integrated with previous records. Even if someone manages to illegally alter the content of a transaction, it will be incompatible with any records before or after it. The blockchain is an excellent platform to prevent unauthorised activity and fraud.
Traceability- it’s easy to trace any item within a complex supply chain back to its origin. An effective Blockchain solution improves the traceability of vaccines because exchanges of goods are accurately recorded. There’s a trail that allows you to trace any item, anywhere in the world. You know where it came from and when it stopped moving within the supply chain. The whereabouts of assets can be verified with historical transaction data and it’s easy to detect any internal thefts or tampering.
Contact Cold Chain Packing & Logistics
To learn more about the importance of shipment monitoring and why a temperature-controlled pharma logistics company is important to the global distribution, contact Cold Chain Packing & Logistics today and speak with a Pharma Logistics distribution expert who can answer any questions you might have.
If you enjoyed this article, please feel free to share it on your favourite social media sites.