Splunk integrates with pharmaceutical blockchain supply chain app

Splunk integrates with pharmaceutical blockchain supply chain app

Blockchain
June 26, 2020 Editor's Desk
308
U.S. based Splunk offers its operational intelligence solution for a pharmaceutical trace and track blockchain developed by LedgerDomain, the company stated in a blog post. Splunk is a $30 billion market cap listed company that produces software to monitor, report, and analyze machine data. It utilizes machine learning to recognize data patterns and offer metrics. The company
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U.S. based Splunk offers its operational intelligence solution for a pharmaceutical trace and track blockchain developed by LedgerDomain, the company stated in a blog post. Splunk is a $30 billion market cap listed company that produces software to monitor, report, and analyze machine data. It utilizes machine learning to recognize data patterns and offer metrics. The company has developed the Splunk App for Hyperledger Fabric, a set of dashboards, and analytics tools. 

It combined its app with the LegerDomain track and trace solution developed as part of a DSCA (Drug Supply Chain Security Act) pilot program initiated by the U.S. Food and Drug Administration (FDA). LedgerDomain teamed up with UCLA Health for the pilot that utilizes the BRUINchain application to track and trace drugs utilizing 2D barcodes. The intention is to eliminate expired or counterfeit products from the supply chain. The two are members of the Hyperledger community, and the solution is developed utilizing Hyperledger Fabric. 

UCLA Health comprises of five facilities and over 200 clinics maintained by the in-house pharmacy department. The academic medical center offered real data for the blockchain pilot and combined BRUINchain for DSCSA compliance. BRUINchain is a mobile application that scans the drug barcode at every point in the supply chain. This produces an immutable log of the drug’s movement from manufacturer to pharmacies and finally to the customer. 

The blockchain was capable of verifying a drug’s provenance by interacting with the manufacturer and notify when suspected products were scanned. It also decreased the amount of paperwork needed, saving supply chain participants significant time. Part of the project concentrated on measuring the reduction in compliance costs. The project associates estimated that a real-time responsive blockchain solution could protect the U.S. pharma industry $183 million in annual labor costs. 

Meantime, concerning Splunk’s contribution, the company stated, “Our application allowed monitoring of performance, visualizations of transactions per second (tps), memory, etc. The insights that the application provided is essential to the study’s projection costs and tracing for the entire U.S. pharmaceutical industry.”

Various pharma groups ran DSCSA FDA pilots. These involved a consortium formed by IBM, KPMG, Merck, and Walmart. And Mediledger issued results of its FDA blockchain pilot, which led with Walgreen, FedEx, Walmart, seven manufacturers, and the three big pharmaceutical wholesalers that account for 94% of U.S. sales. 

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