Asset Visibility: Changing Regulatory Landscape Driving Adoption of IoT Solutions in the Pharma Vertical

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By Abdullah Haider | 1Q 2022 | IN-6494

 

Regulations Transforming Supply Chains in the Pharmaceutical Market

NEWS


The US and the EU’s rollout of serialization regulations has led to disruption to the pharmaceutical supply chain and created opportunity for Internet of Things (IoT) value chain players across multiple application segments like asset tracking, condition-based monitoring, and inventory management. Serialization regulations are defined as the affixing of unique barcodes on items, packages, pallets, cases, and containers for the purpose of traceability. Traceability refers to record-keeping by any player in the supply chain of details of who their supplier was and who their customer is, for each given transaction. In some jurisdictions, all supply chain players must keep digital records, making traceability an end-to-end phenomenon. The EU’s Falsified Medicines Directive (FMD) is being rolled out, which already covers most European member states (excluding Greece, Italy, and the UK—a former EU member). Likewise, similar regulations are being rolled out in European non-EU states such as Switzerland and Russia. The timeline of the rollou…

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