Decentralized and Secured Applications of Blockchain in the Biomedical Domain

Kumari, Meet; Gupta, Meenu; Ved, Chetanya

doi:10.1201/9781003231332-13

Cited by 1 publication

(1 citation statement)

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“…From a practical perspective, a company should acknowledge the following points when implementing a blockchain system: first, training the employees to understand how they will use the new technology so that they can operate successfully without any human error, or starting to recruit new employees with better qualifications in order to cope with the technology implementation (Kumari et al ., 2021). Secondly, it should be explained why the company will shift to this technology, showing its benefits that can be an excellent opportunity for managing the external relationships of the company.…”

Section: Discussionmentioning

confidence: 99%

Blockchain technology in pharmaceutical supply chains: a transaction cost perspective

Gruchmann

Elgazzar

Ali

2023

MSCRA

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PurposeAdopting new technologies to improve supply chain activities and processes is essential due to increasingly complex and dynamic business environments. Particularly in the pharmaceutical industry, high-quality standards must be met, requiring transparency and visibility in the supply chain. This research aims at investigating the implementation of blockchain technology in the supply chain of an Egyptian pharmaceutical company.Design/methodology/approachThe research applies a single case-study approach building on the theoretical underpinnings of transaction cost economics. Twenty-five semistructured interviews were conducted with pharmacies and employees of the case company to identify the blockchain technologies' potential for pharmaceutical supply in Egypt. Further analyzing the frequencies of the codes, the authors elaborate on specific relationships between the observed practices.FindingsThe research revealed the potential benefits of adopting blockchain technology. Transaction costs are indeed positively impacted by reduced contracting costs, processing costs and lead times, also ensuring the safe delivery of medications. However, the findings also highlight obstacles related to running costs, awareness and company culture. Regarding supply chain governance, blockchain technology can enhance collaboration within the supply chain as well as with important stakeholders.Practical implicationsInsufficient management of pharmaceutical supply chains (PSC) may affect a company's reputation but also disrupt the patient's healing process due to temperature damage and counterfeit medicines. Blockchain governance, in this vein, can ensure a safer and more reliable supply of pharmaceutical products. For intraorganizational purposes, however, cloud solutions, barcoding and generally digital platforms are rated more frequently than blockchain solutions.Originality/valueThe present study contributes to an advanced understanding how blockchain technology supports PSC, particularly in an emerging country context like Egypt. It thereby confirms and extends previous research as well as adds to the theoretical underpinnings of digitalized supply chains.

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Section: Discussionmentioning

confidence: 99%