Tracesci Global showcased its track and trust solution at the Pharmatech & Labtech Expo held from 12-14 April 2024, in Chandigarh. With a focus on ‘Traceability and Brand Protection’, its solution addresses counterfeiting issues, streamlines aggregation processes, and ensures transparency across the pharmaceutical supply chain, the company said.
Tracesci says its Track & Trace solution offers real-time tracking from production to recycling, providing comprehensive visibility throughout the supply chain. “By incorporating QR codes empowered by blockchain technology, we enable real-time tracking at the individual drug level, preventing diversion and ensuring product authentication & quality until it reaches the patient. This ensures that pharmaceutical companies can meet industry demands with real-time inventory data, facilitating agile responses to market needs,” says Priyanka Rathi, DGM, marketing & communications
Kunal Kothari, GM of Tracesci Global, emphasizes the importance of brand protection and traceability solutions in the pharmaceutical sector. By monitoring product travel along the supply chain, firms gain valuable insights and swiftly address any issues or discrepancies. Additionally, to curb the sales of spurious medicines, the government mandates the use of barcodes or QR codes on specified drug formulations, further highlighting the importance of traceability in the industry.
Kunal elaborates on Tracesci’s ability to address regulatory compliance requirements efficiently, facilitating quick setup and ensuring global compliance for export jobs. He emphasizes how blockchain technology revolutionizes traceability in pharma by providing a secure, decentralized, and transparent platform. By leveraging blockchain, companies enhance transparency, accuracy of records, safety measures, and productivity, ensuring adherence to industry regulations.
In the rapidly evolving pharma industry, establishing a reliable traceability system is crucial for staying competitive and ensuring product quality. Tracing practices such as serialization, coding systems, and track-trace-verify operations provide enhanced visibility and quality control measures in the supply chain. Despite their limitations, investing in traceability solutions proves invaluable for pharmaceutical companies, safeguarding products and consumers alike.
