TraceLink Announces New Digital Network Platform to Further Transform the Global Pharmaceutical Supply Chain
TraceLink Inc., the world’s largest integrated digital supply network, announced the launch of the Digital Network Platform, today at its FutureLink event in Nashville. Built on top of the TraceLink Digital Supply Network, and designed for the rapid development of applications utilizing its multi-enterprise collaboration and data sharing capabilities, TraceLink’s Digital Network Platform will drive innovation and enable the creation of new supply chain operating models centered around the patient, empowering network members to work together for the greater good.
Fueled by its market leadership in serialization, the TraceLink network has grown to 276,000 members, with over six billion serial numbers commissioned to date. Today, the network is used to track serialized medicines as they move from production to the patient. With the launch of the Digital Network Platform, TraceLink customers will have access to a new class of network orchestration and analytics applications that will unlock even more value from their digitalized supply chains and provide the power to orchestrate patient outcomes in ways never before possible.
The Digital Network Platform will provide an environment for the development of network orchestration applications that enable partners to integrate and exchange transactional information inter-operably about common business processes through standardized, secure, and permissioned interfaces, thereby creating new digital business process ecosystems that have never existed before. The unique network data generated from these network orchestration applications will feed into analytics models that apply machine learning, artificial intelligence, and predictive analytics to create analytics applications that can help solve complex supply chain and healthcare problems.
“With the coming proliferation of specialty drugs and personalized medicine, the pharmaceutical supply chain will need a dramatic transformation, moving from a focus on supply to a focus on the needs of the patient,” said Shabbir Dahod, president and CEO, TraceLink. “With the Digital Network Platform, TraceLink provides our customers with the means to create new digital operating models that will meet the needs of tomorrow’s pharmaceutical industry. By rapidly onboarding supply chain partners into new network ecosystems, sharing real-time information, and orchestrating multi-enterprise business processes, our customers can ensure that every patient gets the treatment they need when they need it.”
New Applications to be Delivered on the Digital Network Platform
Throughout 2020, TraceLink will release a series of applications on the Digital Network Platform, to enable supply network integration, end-to-end business process orchestration, and real-time analytics, including:
"Organizations within the pharmaceutical industry – as with essentially every other industry – are undergoing a digital transformation in their supply chain. Businesses recognize that in order to keep up, they must adopt modern digital technologies that will enable this transformation. However, the pharmaceutical industry has more constraints than others, with complicated and evolving regulations to ensure patient safety. This leaves many companies wondering how to effectively introduce the necessary technologies to progress transformation efforts while still complying with the strict regulatory requirements they face on an ongoing basis,” said Simon Ellis, program vice president for IDC research. “TraceLink’s existing extensive serialization and track and trace network leverages all the data currently in and flowing though the network and provides the foundation for data-driven decision making in the pharmaceutical supply chain. Now, with the availability of TraceLink’s Digital Network Platform, users will have access to self-service technology codifying partner connectivity and visibility across the end-to-end healthcare system. The platform will allow traditional business processes to yield higher-level insights to improve patient outcomes and potentially save lives.”