Technology Scouting: Emerging Technologies for Drug Traceability
A top pharmaceutical company contacted Stellarix to learn more about technological advancements like smart sensors and artificial intelligence in the industry to enhance drug traceability. The client wanted to delve into regulatory compliance, reliability, and pharma tracking and grasp an edge over competitors with accuracy and operational efficiencies, offering cost-effectiveness, safety, and leadership.
Client Background
The client is a leader in the pharmaceutical industry that manufactures several life-saving drugs. To scale the business, it requested to invest in emerging technologies like AI and smart sensors.
Engagement Objective:
Here’re the main objectives:
- To identify emerging technologies’ potential for better drug traceability
- To understand the drawbacks and advantages of technologies
- To assess opportunities to be implemented within their sector
Approach:
- A review was conducted extensively that included reading reports and understanding the present landscape with regard to drug traceability and ability to adapt emerging technologies
- Sensor technologies, supply chain, and AI were studied with the help of informed insights from industry experts and leaders, who shed light on the potential application of advanced technology in drug traceability and its outcomes
- Various opportunities were evaluated with available technology like smart sensors and assessment of cost-saving, accuracy, scalability, and regulatory compliance for drug traceability
Impact:
The pharmaceutical client earned repute and recognized methods to utilize AI and other advanced drug-traceable technologies by examining future trends and the innovation landscape. The counterfeiting risk was reduced significantly, raising the stakes for the client while helping them expand their business. The study assisted in streamlining the process and maintaining high safety standards for consumers.
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