Leveraging Ethereum Platform for Development of Efficient Tractability System in Pharmaceutical Supply Chain

Abstract

Consumer knowledge of the goods produced or processed by the numerous suppliers and processors is still relatively low due to the growing complexity of the structure of pharmaceutical supply chains. Information asymmetry in the pharmaceutical sector has an effect on welfare, sustainability, and health. (1) Background: In this respect, we wanted to develop a productive structure for a pharmaceutical supply chain that satisfies the consumer information needs and fosters consumer confidence in the pharmacy goods they buy. By using blockchain technology, the main goals were to develop and implement a pharmaceutical supply chain. (2) Objectives: The main objectives of this work were to leverage an Ethereum platform for the development of a tractability system in a pharmaceutical supply chain environment and to analyze the efficiency of MSMAChain with respect to the cost and execution of transactions based on our designed smart contracts. (3) Results: This research looked into a variety of issues related to the value, viability, and effects of blockchain technology for use in supply chain applications. The methods and creations in this environment were monitored and researched. It is vital to identify a number of crucial subjects including future research areas, in order to achieve the widespread acceptance of the supply chain traceability provided by blockchain technology. (4) Conclusions: MSMAChain, an Ethereum blockchain-based approach, leverages smart contracts and decentralized off-chain storage for efficient product traceability in terms of the cost and execution of transaction for a health care supply chain.

Keywords

• blockchain
• pharmaceutical supply chain
• smart contract
• MSMA chain
• tractability
• cost and execution analysis