Yesterday Chronicled announced a partnership with OCEASOFT to integrate and cross-sell their platforms and solutions.
Pharma supply chain digitization
Temperature control in pharmaceutical supply chains is big business according to Pharmaceutical Commerce which estimated managing transportation of temperature controlled products at $13.4 billion in 2017, growing at a rate of 5-6%.
There’s considerable activity in the pharma sector as a result of legislation. The US Drug Supply Chain Security Act requires pharmaceutical companies to add serial numbers to all medications. Later this year the first stage of the Act comes into force with the remainder phased in through to 2023.
OCEASOFT and Chronicled
OCEASOFT is a French designer and producer of atmospheric monitors for supply chains and Chronicled is a San Francisco based IoT and blockchain focused supply chain technology firm.
Both companies are specialists in their fields and using blockchain technology for atmospheric monitoring could improve on conventional systems.
OCEASOFT’s products track atmospheric data like CO2, temperature, and humidity. Ideally, the logistics company will collect, store and track the data so that buyers and sellers can check the integrity of the supply chain
Blockchain benefits
This is where blockchain could come in to play:
- A decentralized blockchain provides a secure and immutable database.
- Logging and tracking operations can be synchronized thereby reducing duplicates in record keeping.
- If any atmospheric issues were to happen, a smart contract could automatically pay infringed parties.
“By partnering with Chronicled, we gain a solid blockchain strategy. As the pharmaceutical industry in the United States moves onto blockchain to meet its track-and-trace requirements, we can leverage our partnership to integrate these workflows and cold chain (temperature monitoring) requirements to provide more value and better ROI for customers,” says Laurent Rousseau, CEO of OCEASOFT.
In turn, Chronicled sees the potential for enhancing OCEASOFT’s systems. Ryan Orr, CEO of Chronicled, says his company can “offer cross-site visibility of information via apps and a Cloud-based dashboard.”
“With wireless connectivity, OCEASOFT data loggers solve many of the problems faced in the cold chain logistics industry.”
He highlights eliminating the need for USB plugs; automating data retrieval with BLE, LoRaWAN (long range connection for low-powered devices), and 5G gateways.
Other hardware solutions
These aren’t the only companies working in this area. DSV Israel recently partnered with Brieftrace to track temperature and location for pharma on a blockchain. In their recent blockchain announcement SAP referred to a pharma track and trace solution they’re working on.
This OCEASOFT partnership adds to Chronicled’s other hardware solution, crypto seal, which proves a box is unopened.
With the latest news Chronicled is positioning itself as a one-stop-shop in pharma supply chain technology.
