International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 10 Issue: 06 | Jun 2023
p-ISSN: 2395-0072
www.irjet.net
Product Serialization using Blockchain Kaustubh Patil1, Pranjal Yadav2, Ganesh Waghmare3, Chirag Meshram4 Prof Sushma Rathi5 1-4 Undergraduate Students, Department of Computer Engineering, Terna Engineering College, Nerul, India
5 Assistant Professor, Department of Computer Engineering, Terna Engineering College, Nerul, India.
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Abstract - Our project has successfully implemented a
We propose to develop a more robust solution by leveraging blockchain technology, which offers enhanced security and transparency as a decentralized and immutable ledger. By replacing traditional databases with a blockchain network, we can create a tamper-proof system where product serialization data is encrypted and distributed. This significantly reduces the risks of security breaches and counterfeiting, and enables real-time tracking and tracing of products, thereby enhancing the integrity of the supply chain.
blockchain-based solution for pharmaceutical product serialization, replacing traditional databases with a secure and transparent blockchain network. By leveraging the decentralized and immutable nature of blockchain, our platform enables real-time tracking and tracing of products, reducing the risk of counterfeit goods, and enhancing supply chain integrity. The utilization of blockchain technology also enhances data security through encryption and distribution of information across the network. Our project showcases the potential of blockchain in improving supply chain management and contributing to a safer pharmaceutical supply chain ecosystem.
3. LITERATURE REVIEW Multiple papers were selected for full review in the context of this project. Based on the research papers reviewed, several key insights can be gathered for developing a blockchain application to manage pharmaceutical supply chains.
Key Words: Blockchain-based Solution, Pharmaceutical Product Serialization, Decentralized, Blockchain Network, Immutable, Supply Chain Management, Distributed ledger technology
First, blockchain can improve supply chain traceability and transparency in the pharmaceutical industry [2] [4] [6] [8] [9] [10]. Blockchain technology can provide an immutable and transparent record of all transactions and activities in the supply chain, allowing for enhanced visibility and accountability. This can help prevent counterfeit drugs, track and verify the authenticity of pharmaceutical products, and ensure compliance with regulatory requirements.
1. INTRODUCTION Product serialization is an essential technique enforced by agencies and companies worldwide to assign unique numbers to individual items. This technique allows organizations to track and trace their products' location in a supply chain involving multiple parties, promoting transparency and traceability. It is particularly crucial for products exchanged among multiple hands during their life cycle, ensuring authenticity and safety, especially in the pharmaceutical sector where counterfeit drugs can pose significant threats to public health. Counterfeit goods amounted to as much as $509 billion in 2016, representing 3.3% of world trade[1]. Counterfeiting leads to the loss of 5.4 million jobs globally, and up to 1 million people die from fake medicine every year[0], emphasizing the need for continuous improvement in product serialization.
Second, scalability and security are important considerations when implementing a blockchain-based solution for supply chain management [3] [7]. Blockchain solutions need to be able to handle large volumes of data and transactions in real-time to be effective in managing pharmaceutical supply chains. Additionally, ensuring the security and privacy of data stored on the blockchain is crucial to protect sensitive information and prevent unauthorized access.
2. PROBLEM STATEMENT
Third, interoperability and collaboration among multiple parties in the supply chain are critical for successful implementation of a blockchain-based supply chain solution [3] [5] [7] [8]. Pharmaceutical supply chains involve multiple stakeholders, including manufacturers, distributors, retailers, and regulatory agencies, and it is important to establish interoperability standards and collaboration protocols to enable seamless data exchange and coordination among these parties.
Our project aims to tackle the limitations of existing product serialization systems, which are susceptible to security breaches and counterfeiting. These systems rely on centralized and vulnerable traditional databases, making it difficult to ensure product authenticity in a complex global supply chain.
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