Enhancing Pharmaceutical Supply Chain Efficiency through Smart Contracts: Ensuring Transparency, Traceability, and Security

Abstract

This paper introduces a cutting-edge smart logistics solution for Pharma Supply Chain Management (PSCM) by integrating smart contracts, logistics planning, and asset condition monitoring using Internet of Things (IoT) devices. Focused on enhancing accountability, traceability, and liability across the entire supply chain, the proposed model demonstrates real-time visibility as products move from the drug's manufacturer to patients. In the PSCM, a critical concern is the safe and efficient delivery of medicines, particularly in maintaining precise temperature conditions. Addressing this challenge, the solution integrates blockchain, smart contracts, IoT sensors, and gas-efficient implementations. The system employs Radio Frequency (RF) sensors to collect accurately timestamped data, ensuring transparency and reliability in drug movement. Gas-efficient smart contracts streamline processes, revolutionizing pharmaceutical supply chain management and improving patient outcomes through real-time IoT monitoring, countering counterfeit drugs, and ensuring data integrity.