Benefits and guidelines for utilizing blockchain technology in pharmaceutical supply chains: case Bayer Pharmaceuticals

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Volume Title
School of Business | Bachelor's thesis
Date
2016
Major/Subject
Mcode
Degree programme
Business Technology
Language
en
Pages
26
Series
Abstract
In this thesis, I explore how blockchain technology can improve pharmaceutical supply chain operations and discuss how the technology should be implemented. Furthermore, I study how the life science company Bayer's pharmaceutical division can utilize blockchain technology in its supply chain operations. I begin by defining the concepts of blockchain technology, smart contracts and pharmaceutical supply chain. Then I discuss the benefits and implementation in different sections: participating entities and information flow, contracts and payments, logistics, transparency and product security and blockchain infrastructure and governance. Both Bayer and the industry as a whole can benefit from blockchain technology. Blockchain enables for example efficient, safe and private transactions, product transparency and security and open information sharing without exposing trade secrets. For the first time a platform for all stakeholders can be developed that enables transacting information and value simultaneously.
Description
Thesis advisor
Wallenius, Jyrki
Keywords
blockchain, pharmaceuticals, supply chain, smart contract, Bayer
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