The menace of counterfeit drugs have plagued the Pharma industry for long. In addition to taking income from consumers and drug companies, counterfeit drugs can cause serious health hazards to patients. In this age of growing consumerism, leaving this hurdle unaddressed can hamper the brand image and good will of an enterprise.
Coforge, with our industry domain expertise and cutting edge technology capabilities, have developed a Blockchain solution to thwart the threat of counterfeit drugs. The solution cascades through the pharma supply chain – Manufacturers, Warehouses, Carrying & Forwarding Agents (CFAs), Stockists, Retailers or Pharmacies, and finally, Consumers – safeguarding against all possible entries of a counterfeit. With the security of Blockchain, consumers will have unequivocal confidence in the authenticity of the medicines purchased. The manufacturer will also have complete visibility of their drugs, allowing to rectifying issues that crop up in the supply chain.
The idea is to provide customers with a seamless digital experience for easy validation of a drug with the manufacturer. Our Application aids in identifying fake content of the QR code or barcode further allowing customers to report such a duplicity to the pharma manufacturer. Coforge’s Anti-Counterfeiting solution provides a multitude of benefits like:
- Ascertaining Offenders: A dashboard view provided allows a manufacturer to pinpoint the offenders at the level of pharmacy, stockists, or carry forward agents.
- Empowering Consumers: Our solution not only instils confidence in customers by authenticating a drug but also empowers them with the report facility.
- Gives Insights that Matter: The dashboard provides insights on the incidents raised on the basis of region, category, and product in the form of visually rich graphs and charts.
- Revenue Impact: Integration with backend systems provides the manufacture with information on revenue loss/gain based on the increase/decrease of reported incidents. The solution helps achieve higher returns by taking proactive actions inspired by insightful analytics and aids in cost take out with fewer resources required to manage the supply chain.
- Security: Our Blockchain experts offer a home-grown application using which users can track their medicine orders and ensure their authenticity. This app overrides the third-party scanning applications and provides enhanced security The Blockchain solution provides in-built protection to ensure that every transaction is tamper-proof.
- Provenance Validation: Blockchain technology enables consumers to authenticate medicines by verifying the manufacturer’s provenance details.
We help you transform at the intersect of unparalleled domain expertise and cutting edge technologies to achieve real-world business impact. Coforge’s dedicated Blockchain studio provides resources needed to quickly build r3 Corda, Hyperledger Fabric, and Ethereum platform-based applications. Our assets simplify the formation, management, and governance of Blockchain networks to support pharma manufacturers’ needs of helping consumers get genuine drugs, boosting brand loyalty, and increasing revenue gains. Our AntiCounterfeiting solution can easily integrate with backend systems to build a complete end-to-end process for the pharma supply chain management. A secure application and a dashboard view empowers both the consumers and pharma manufacturers with information on which they can act. The solution accelerator gives you a head start for building a supply chain use case on Blockchain, tailored to your requirements. Our proven capabilities in Blockchain across Industries, combined with the rich experience enables in bringing advanced methods, products, solutions and approaches that offered significant value.