Blog Post
The rising trend of blockchain assisting the food & beverage industry to become more socially responsible
Website Editor • Mar 16, 2020
Blockchain is becoming an increasing global trend that is greatly impacting many industries.
Blockchain is becoming an increasing global trend that is greatly impacting many industries. In particular blockchain has enabled the food and beverage industry to provide consumers the ability to understand where particular foods and ingredients have originated from. It has also assisted the food and beverage industry in becoming more socially responsible as it greatly reduces the chance of food contamination and waste in the supply chain. It can also enhance the capability to detect potential sources of contamination and effectively prevent and rectify them before they reach their destination.
Food safety and the transport of food and beverages plays a large role in global supply chains. This is a top concern for consumers, businesses and regulators as problems within supply chains locally and globally can take weeks to be identified and rectified at times depending on the issue. The World Health Organisation (WHO)
estimated in 2019 that approximately 420,000 people die annually due to food contamination. WHO
also stated that children under the age of 5 are more susceptible to food-borne diseases, with 125,000 children dying every year. The overall goal of utilising blockchain technology in the food and beverage industry is to increase the trust and transparency between businesses and consumers. This is beginning to be trialled globally in countries such as the U.S., Dubai, and even France.
The greatest value nonetheless is for companies and their supply chains. Blockchain has the ability to increase end-to-end visibility and transparency between companies, multiple suppliers and manufacturers. This removes the need for manual intervention as all concerned entities have access to necessary information for example any delays in the supply chain or temperature excursions. Real Time Business Insights
states that losses of perishable foods equate to a staggering $35 billion annually. Blockchain therefore also increases efficiency and allows companies to respond in real-time to any unexpected issues in the supply chain.
Adapt Ideations’ smart asset tracker KELVIN
allows each consignment to be tracked and managed from origin to its destination. By utilising IoT technology, the asset tracker enables more efficient management due to the collection of near real-time data. In addition, KELVIN can be integrated into a blockchain application via an API. In turn this allows companies to revisit the data collected in order to analyse and understand any issues within the supply chain. The smart asset tracker allows companies to track their assets in near real-time with location, temperature, shock and light enabled sensors. The smart asset tracker revolutionises and automates company’s supply chains allowing greater levels of efficiency and visibility to be achieved.
Food wastage is another issue that can be addressed using blockchain technology to encourage businesses to become more socially responsible. Perishable foods can experience temperature excursions during transportation, ultimately meaning that they must be wasted as they are no longer consumable. WWF
highlights that food waste greatly contributes to climate change with 11% of all greenhouse gasses produced, originating from the methane caused by food waste in landfills. Adapt Ideations' KELVIN
ensures that all concerned entities involved in the supply chain are notified of violations experienced. Added features such as temperature detection, light and shock sensors, allows inconsumable foods and counterfeit products to be reduced ensuring a company’s reputation is not negatively impacted. Furthermore, if any violations occur, the prompt relay of data will allow concerned parties to efficiently intervene therefore decreasing the amount of food wastage.
The advantages of blockchain technology are huge, and ever-expanding in the food and beverage industry. By tracking products from its origins to its destination, greater trust between companies, suppliers, manufacturers and consumers is created. Adapt Ideations smart tracking device, KELVIN allows businesses to track their assets in near real-time enabling every day data to be transformed into operational intelligence.
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Temperature-controlled logistics is a crucial aspect of global supply chains, particularly in the pharmaceutical industry. Maintaining the correct temperature during transportation is not just a logistical issue but also a critical factor in ensuring the safety and efficacy of life-saving vaccines and other temperature-sensitive products. As the demand for temperature-sensitive products like vaccines and biologics continues to surge, ensuring their safe transportation is paramount. Any deviation in temperature during transit can compromise the efficacy of these products, leading to significant financial losses and potential health risks. This blog delves into the evolution of temperature-controlled logistics, critical challenges faced in this sector, and groundbreaking innovations that address these challenges. With a focus on real-time monitoring through IoT solutions, we aim to showcase the advancements that contribute to the efficiency and compliance of global pharmaceutical supply chains. Evolution of Temperature-Controlled Logistics Temperature control has undergone a remarkable transformation in the last two decades. Stringent global regulations, customer demand for new temperature ranges, emerging markets with extreme temperatures, and the growing value of drugs like biologics have been essential driving forces. These factors have spurred the evolution of temperature-controlled logistics to meet the demands of a rapidly changing world. The landscape of temperature-controlled logistics is evolving, thanks to technological advancements. Trends include the growing availability of prequalified shippers simplifying the validation process, sophisticated supply chain services, a rising interest in reusable packaging, and advances in temperature-monitoring technology. These innovations contribute to the industry's ability to adapt and thrive in a dynamic environment. Temperature-controlled logistics involves managing the flow of products through a cold chain. Divided into food and pharmaceutical sectors, the global market size of cold chain logistics is projected to grow significantly. From USD 242.39 billion in 2021 to USD 647.47 billion by 2028, exhibiting a CAGR of 15.1%, the industry is expanding rapidly, reflecting its critical role in modern commerce. 3 Key Challenges in Temperature-Controlled Logistics Compliance Issues Stringent Regulatory Standards: Global temperature-controlled logistics operates within a framework of strict regulations set by health and safety authorities. Meeting diverse regulatory requirements across international borders poses a significant challenge for companies in this sector. Documentation & Reporting: Compliance involves meticulous documentation and reporting of temperature-sensitive shipments. Keeping up with the evolving documentation standards requires streamlined processes and robust systems. Validation & Qualification: Ensuring the validation and qualification of equipment and processes according to regulatory standards is an ongoing challenge. The need for continuous validation adds complexity and time constraints to logistics operations. Risks of Temperature Deviations Product Integrity: Temperature-sensitive products, especially pharmaceuticals and biologics, are highly susceptible to temperature deviations. Even brief exposure to temperature breaches during transit can compromise the integrity and efficacy of these products. Financial Implications: Temperature deviations can lead to significant financial losses for companies. Replacing or disposing of compromised products and potential legal repercussions contribute to financial challenges. Supply Chain Disruptions: Temperature deviations can disrupt the entire supply chain, leading to delays in product availability. This not only affects businesses but can have critical implications for healthcare providers and patients relying on timely access to medications. Security & Theft Concerns Value of Cargo: Temperature-sensitive cargo, such as pharmaceuticals, vaccines, and high-value perishable goods, can become a target for theft. The significant value of these products heightens security concerns throughout the supply chain. Vulnerability During Transit: The vulnerability of cargo during transit, particularly in unsecured areas, poses a constant risk. The potential for theft during transportation adds complexity to securing temperature-controlled shipments. Need for Tracking & Monitoring: Ensuring the security of temperature-sensitive cargo requires robust tracking and monitoring systems. Integrating security features, such as real-time location tracking and tamper-evident technologies, is essential to mitigate theft risks. In navigating the intricate landscape of temperature-controlled logistics, companies must address these multifaceted challenges to uphold compliance, safeguard product integrity, and ensure the security of valuable shipments. Innovative solutions, such as advanced monitoring technologies and comprehensive security measures, are crucial in overcoming these challenges and fostering a resilient and efficient supply chain.
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