DHL And Accenture Use Blockchain Technology To Stop Counterfeit Medicines
Transportation is an important element of logistics in Perth because it involves the movement of raw materials to manufacturers and the movement of finished products for storage and shipment. Transportation costs can be minimized by choosing companies that provide the best service in a professional and timely manner.
A project of DHL and Accenture proves that blockchain can reduce the number of deaths arising from the use of counterfeit medicines. DHL and Accenture applied the blockchain technology in tracking pharmaceuticals from their manufacture up to prescription to patients. The project is critical because according to Interpol, about 1 million people die each year because of counterfeit medicines that make up an estimated 30% of all the pharmaceutical products that are sold in emerging markets.
According to Keith Turner, CIO Chief Development Officer of DHL Supply Chain, the utilization of the inherent irrefutability found in blockchain technologies can make great strides to highlight tampering of medicines, reduce the risks of counterfeit medicines and help save lives.
Blockchain technology has tremendous processing capacity. Records of transactions that are tamper-proof can be created and accessible to stakeholders that include manufacturers, warehouses, distributors, pharmacies, doctors and hospitals. Simulations that were made by DHL and Accenture revealed that blockchain has the capability to handle more than 7 billion unique serial numbers and 1500 transactions per second.
The finance sector has made experiments with blockchain and logistics is an area where the technology can be best utilized. However, the implementation of productive solutions will require further technological developments and collaborations among the stakeholders.
One example of how blockchain can be used in logistics is tracking and tracing the chain of custody among the different parts of the supply chain. Blockchain reduces the time required to make reconciliations and processing times for everyone in the supply chain.
No matter what transport service you require, logistics in Perth is prepared to organize the transportation for your raw materials or finished products. Services include side-loader, semi-transport from the wharf and transportation of goods regardless of destination and unpacking and packing. Getting the goods to the destination in the quickest way possible is guaranteed for a fast turnaround.