Global contract packaging organisation (CPO), Tjoapack, has partnered with UK-based technology company, Veratrak, to establish the use of blockchain across the pharmaceutical industry.
The partnership will include a number of projects that focus on using the properties of blockchain to enable transparent collaboration across multiple pharmaceutical supply chain partners, reducing service lead times, and driving information sharing through a secure digital chain.
The first project, which is due to be rolled out in Q4 2018, will secure and optimise the data sharing processes involved in setting up stock keeping units (SKUs) ready for packaging from product master data to artwork. Blockchain allows data to be stored as part of an immutable ledger assuring that it cannot be altered or tampered with. Veratrak’s new document collaboration platform uses blockchain technology to allow secure data sharing across the pharmaceutical industry.
Dexter Tjoa, Director Corporate Strategy, Tjoapack said: “This kind of technology will be invaluable when it comes to securing the pharmaceutical supply chain.“Blockchain is already being explored as a solution to support track and trace programmes which follow physical goods through the supply chain. It could also have huge benefits when it comes to improving data transparency through secure audit logs that are accessible for multiple parties. A tool like the one we’re working on with Veratrak will make collaboration across different companies easier, making the supply chain much more efficient.“We’re impressed with Veratrak, and are very much looking forward to working closely with their team. Hopefully this will be the first of many projects we collaborate on.”
To date, blockchain technology has been explored by pharmaceutical companies through either proof of concepts (POC) or pilot projects. Veratrak has been built according to GAMP5 guidelines and is compliant with FDA part 11 regulations, making it the first global application of blockchain in a GxP environment working with multiple organisations in the supply chain.
