Implementation of Industry 4.0 in Supply Chain Management in the Healthcare Industry

Abstract

The implementation of Industry 4.0 will assist the healthcare sector in building reliable and sustainable supply chains. This research discusses about how the current technologies can lead to improve the existing supply chain management systems and how the drugs- one of the main component circulated in the supply chain be safeguarded from being replaced by counterfeits. As a result, this research study proposes a centralized system, which includes gathering and sending purchase orders, tracking the transportation of drugs, implementing a programme for drug exchanges in collaboration with numerous hospitals, and using AI models for demand forecasting to guard against shortage or oversupply conditions. To prevent an inflow of counterfeit supplies, blockchain technology is used to monitor pharmaceuticals and other medical products. To monitor the state of pharmaceutical products in storage facilities or warehouses, IIoT is employed. This improvement guarantees improved healthcare facilities and more transparency in the procurement procedures.