- Written by Bonnie Bain
- Category: Technology
Blockchain technology will play a key role in supporting supply chain transformation in the healthcare sector by helping to reduce fraud and better manage quality in the manufacturing and distribution of pharmaceutical products, according to leading data and analytics company GlobalData.
Your manufacturing, shipping, warehousing, and retail channels are all perking along just fine. You have a great team handling your EDI transactions and managing exceptions and your trading partner relationships are in good shape. So what could go wrong and threaten all the good work you’ve done?
Bar codes have been with us for a while now and their application makes tracking products and processing sales simple. For grocers it has meant the demise of the label gun and the need to update price stickers every time costs changed. But the traditional bar-type label has been supplanted by the higher density QR code that can store much more information in smaller spaces and now a new innovation lets suppliers put code directly on edible products.
Supply chain transactions, mostly in the form of EDI transactions, generate huge amounts of data. But the advent of IoT devices, RFID tags, and retail sales transactions are making what seemed to be unimaginable volumes of data unmanageable and as useless as when the records were simply deleted after they had served their purpose. Analytics was supposed to be the answer but even that has turned out to be insufficient. Artificial intelligence is stepping in to extend analytics and add action to its insights.
Managing orders in a fast moving environment can lead to some unusual (and sometimes strange) conditions. And when conditions are extremely time sensitive even the position of a worker’s hands can make the difference between delivering the order and missing. And that’s the issue Amazon seems to be tackling with its latest patent.