In collaboration with Microsoft, leading serialization, and track and trace solutions provider, Adents has developed a new unit-level product track & trace platform utilizing Blockchain and AI technologies. The groundbreaking Adents NovaTrack, which debuted at VivaTech 2018 in Paris last month, offers end-to-end traceability and visibility throughout the entirety of the supply chain.
According to the Organization for Economic Co-operation and Development (OECD), an estimated 10 percent of pharmaceutical products sold worldwide and 2.5 percent of global imports are counterfeit. Trust and transparency continue to be significant concerns for businesses, government agencies and consumers around the globe. Tighter control of supply chains is a crucial factor in tackling these issues.
Blockchain presents unprecedented opportunities to secure entire supply chains, yet comprehensive end-to-end security means more than documenting transactions on a shared ledger. Challenges include:
* In-depth understanding of cross-standard serialization protocols.
* Ability to define data governance and security policies based on industry standards and business processes as stakeholders are reluctant to share business information and compliance issues impact their governance.
* Enormous data volume (hundreds of billions of products circulating worldwide annually) requires powerful AI and BI solutions.
* Syncing complex business processes to understand the supply chain, and adapting IT solutions to meet existing and future stakeholder requirements.
Adents’ NovaTrack is a marriage of technologies. The solution utilizes Blockchain, A.I., IoT and serialization functionalities that, when combined, bring comprehensive visibility throughout product distribution chains & life cycles. The result is a solution highly mindful not only of performance and security but also governance and scalability. Adents’ NovaTrack’s foundation includes:
* “Blockchain as a service” approach allowing each supply chain participant to either run blockchain nodes on-premises or via the cloud. In the vast majority of cases, a cloud-first blockchain strategy is preferable, as it simplifies technology lifecycle management, security, scalability and resource allocations.
* Embedded security features – including consortium Blockchain mechanisms such as identity management, PKI and encryption – ensuring only trusted participants are members of the Blockchain.
* Artificial intelligence via Microsoft Machine Learning and Business Intelligence Services gives the ability to collect and analyze data to transform massive amount of data into actionable business insight.
* Communication standards compliance for various industries, including pharma and other particularly stringent sectors.