Counterfeit pharmaceuticals account for around $200 B in annual sales, which makes them the largest segment of the fraudulent goods sold worldwide every year. The use of Substandard, Spurious, Falsely labeled, Falsified or Counterfeit (SSFFC) drugs can harm patients and cause brand erosion, litigation, regulatory issues and losses to drug manufacturers; making it a top industry challenge. Another top challenge for the pharmaceutical industry is product wastage due to temperature excursions in cold chain.
To address these industry challenges, Wipro has developed “Wipro Smart Track”, a “Digital Supply Chain and Anti-Counterfeiting Platform” in a co-innovation initiative with Microsoft and Takeda (Shire Pharma).
The platform secures pharma supply chain and prevents cold chain wastage by generating geospatial alerts in real time in the event of a temperature excursion or counterfeiting attempts. Built on cutting-edge IoT (Internet-of-Things), blockchain and cloud, this platform helps transform supply chain security and regulatory compliance and effectively addresses the two major challenges of counterfeit drugs and cold chain product wastage.