The collaboration of Microsoft with Adents was recently announced in a press release. “Their efforts have developed a new unit-level product track & trace platform utilizing Blockchain and AI technology. The groundbreaking Adents NovaTrack, which debuted at VivaTech 2018 in Paris last month, offers end-to-end traceability and visibility throughout the entirety of the supply chain.”

According to the Organization for Economic Co-operation and Development (OECD), “an estimated 10% of pharmaceutical products sold worldwide and 2.5% of global imports are counterfeit. Trust and transparency continue to be significant concerns for businesses, government agencies and consumers around the globe. Tighter control of supply chains is a crucial factor in tackling these issues.”

“Blockchain presents unprecedented opportunities to secure entire supply chains, yet comprehensive end-to-end security means more than documenting transactions on a shared ledger. Challenges include:

• In-depth understanding of cross-standard serialization protocols
• Ability to define data governance and security policies based on industry standards and business processes as stakeholders are reluctant to share business information and compliance issues impact their governance
• Enormous data volume (hundreds of billions of products circulating worldwide annually) requires powerful AI and BI solutions
• Syncing complex business processes to understand the supply chain, and adapting IT solutions to meet existing and future stakeholder requirements

Above all, Adents’ NovaTrack is a marriage of technologies: The solution utilizes Blockchain, AI, IoT and serialization functionalities that, when combined, bring comprehensive visibility throughout product distribution chains & life cycles. The result is a solution highly mindful not only of performance and security but also governance and scalability.”

Read more at Business Wire.

Photo credit: Adents