TraceLink Announces New Digital Network Platform To Further Transform The Global Pharmaceutical Supply Chain
The platform will allow users to rapidly design and deploy network orchestration and analytics applications, enabling patient-centric orchestration across the end-to-end life sciences value chain
Nashville, TN /PRNewswire/ - FUTURELINK - 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:
- Serialization Process Intelligence – this transformative application will provide customers with automated reporting and end-to-end visibility into their global serialization processes. With Serialization Process Intelligence, organizations can combine data from multiple sources into one single source of the truth and analyze data to demonstrate compliance with worldwide track and trace regulations, investigate exceptions quickly and keep products moving through the supply chain, prevent product shortages, and get to a business as usual state.
- Experience Design Environment (XDE) – this application enables role-based user experiences to be personalized to the unique requirements of an individual or job function. Using the XDE, application access can be streamlined so every employee has an intuitive and productive user experience.
- Smart Supply Manager – this application will source, centralize, and distribute real-time, product condition information relative to unique, serialized medications sourced from a network of connected IoT devices and sensors.
- Smart Product Excursion Tracking – this application will enable pharmaceutical companies to collect edge information associated with real-time product conditions (including temperature and environmental excursions) as well as the patient context associated with the consumption of specialty medicines back through distribution to the original source of manufacturing in order to ensure the integrity and safety of specialty medicines as they move through the supply chain.
- Digital Recalls – this application empowers users with a streamlined platform for real-time updates on product recalls and coordination across the supply chain. This will allow for a more agile and patient-focused approach to product recall issues, thereby increasing product safety, staff efficiency, and brand protection.
- TraceLink Development Environment (TDE) – this low code application development environment will enable developers to rapidly create highly scalable apps to connect supply chain processes across the multi-enterprise TraceLink Network. Using the TDE, TraceLink, its customers, and partners will develop the apps that will power the digital supply chain to enable patient centric orchestration.
"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."
More information will be shared this week during TraceLink's FutureLink Nashville event: www.tracelink.com/futurelink-nashville. To learn more about TraceLink, visit www.tracelink.com.
TraceLink is the world's largest integrated digital supply network, providing real-time information sharing for better patient outcomes. Leading businesses trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. The TraceLink digital supply network is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com.
TraceLink is funded by Georgian Partners, Willett Advisors LLC, Vulcan Capital, Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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