Blockchain & Smart Pharmaceutical Manufacturing

Blockchain & Smart Pharmaceutical Manufacturing - is blockchain mature enough to enable industry 4.0?

Blockchain & Smart Pharmaceutical Manufacturing

Interested in implementing a blockchain solution within your organization? contact Servblock today

In recent decades, the pharmaceutical sector has emerged as a pioneer of integrated production. Currently, the world is advancing toward a more secure and integrated industrial revolution 4.0, aided by technologies such as the Internet of Things (IoT), Internet of Services (IoS), and cloud computing. These services and enablers or what we term smart manufacturing domains or best practices for improving productivity and speeding up the manufacturing process. However, there are several hurdles to smart manufacturing or industry 4.0, such as:

·      Data security

·      Traceability, and

·      The trust that current industrial complexes lack.

In this case, blockchain becomes a critical component of smart manufacturing. As the riddle of blockchain has captured the whole globe, it has begun to present itself as a superior alternative to the existing integration system and security. This is a significant step toward the future of smart, automated, and self-driving production. However, there are several problems and possibilities in smart manufacturing. Therefore, we must first grasp the basics.

How Smart Manufacturing Differs from The More Popular Industry

First, we must recognize that smart industrialization and manufacturing are not a faraway dream but rather a reality gradually shaping the world. It differs from traditional production because it is more resourceful and relies less on human intervention. Moreover, it entails automation at every stage of the production process, from procurement through development and supply chain management. The integrity of the data, developing trust, and boosting traceability, on the other hand, poses a more significant threat to smart manufacturing. Everything must be in order from the time the raw material enters the manufacturer's premises until it reaches the consumer's table.

Why is Blockchain Important for Smart Manufacturing?

The main advantage of blockchain is that it enables a group of organizations to agree on a particular activity and record that agreement without a regulatory body. Their agreed-upon activities are registered, secured, and shared among all parties via blockchain. Blockchain employs a peer-to-peer network and cryptographic techniques to maintain a distributed shared ledger among a group of entities or users (organizations, corporations, individuals, robots, self-driving cars, smart gadgets, software agents, and so on) so that all parties involved agree on its content.

Because speed is essential in today's world, every manufacturer wants to spend less and less time on information transfer and more time on accurate functioning; therefore, a system is required that reduces the need for interaction, which are the primary bottlenecks.

This is the best structure for the pharmaceutical sector since it is a varied industry with many fields, partners, and small producers. Each partner creates a single product that is assembled in a single location.

The complexity of production, which necessitates regulations and standards, is a crucial impediment to such a business. These components are known as enablers and enhancers, and together they generate the effect. The blockchain allows information to flow smoothly across all three realms, bringing them into sync.

Blockchain is not a replacement for IoT, IoS, robotic platforms, storage, or cyber-physical systems (CPS), but rather a mechanism to link and integrate all of these platforms to maximize their benefits. In other words, blockchain has the potential to bridge the information gap, meet security requirements, and provide adequate bandwidth to access and link the various components.

Data and manufacturing components are centralized to boost productivity in a typical setup, citing noticeable delays in information transfer and security. On the other hand, smart manufacturing allows partners and components of the manufacturing process to interact and share information, get feedback, correct course, and enhance production. All of this without delaying or interfering with the manufacturing process. In other words, in a blockchain-powered Industry 4.0, a product in the pharmaceutical industry is not only developed, but the system learns, corrects, and creates even better goods in the next batch, a miracle of the 21st-century smart manufacturing technique.

Interested in implementing a blockchain solution within your organization? contact Servblock today