How CyberVein Can Boost the Covid-19 Medical Supply Chain?
As we know, we are facing a critical shortage of medical supplies across the worldwide, including testing swabs, protective masks, surgical gowns and hand sanitizers, among these medical goods, mostly are from China.
Trade data shows the decline in shipments started in mid-February after the spiraling Covid-19 outbreak in China led the country to shut factories and disrupt outgoing ports. Some hospitals and clinics and even the general market in the western countries have now run out of key medical supplies.
Most of the western countries’ governments count on receiving the vast majority of its medical supplies from China. As Covid-19 cases in China have fallen, factories are slowly coming back online. This is at the same time as the demands around the world beginning to skyrocket for critical supplies. However, one of the key bottlenecks has been the lack of trust between demand, supply and the financing mechanism.
Broken medical supply chains
Governments and Health Systems around the world have particular requirements for each system such as EU standards, US FDA standards, non-EU standards.
Many suppliers around the world are insisting on upfront cash payment as they try to distinguish credible buyers from brokers and middle-men distributors. There has been widespread reports of fraudulent production and fraudulent claims across the medical and personal protective equipment supply chain. There are risks that equipment may not arrive in the right specifications at the right locations at the right time.
Ways in which CyberVein can help
The authenticity and integrity of supply chain data is crucial for the orchestration of the whole supply chain.
Data is the fuel for realizing the potential of full visibility and effective coordination of supply chains. It will change global trade and remove many of today’s trade barriers. It must start with trustworthy data about the tracking and tracing of shipments, inventory levels, condition and status of goods, payment processes and regulatory requirements.
PISR distributed database is designed for establishing such new shared trust in data and to provide a Single Version of Truth. It will provide cryptographic security, define access privileges for different user groups, and establish the audit trail needed for all actors to trusted information and to collaborate with trusted actors.
The supply chain system supported by a PISR distributed database where the original documents and events are reported in real time and made available to authorized actors — providing process transparency and access to original data. The technology behind CyberVein that can scale and support the millions of transactions of global supply chain.
Authenticate medical products and provide assurance certification towards all actors along the supply chain. Attach medical standards to the raw products at the production site. Record value adding activities and keep full transparency towards source.
Enable retailers and medical producers to open product data, track the processes and production of goods, and empower customers with insights into the supply chain. Provide accessible, trustworthy information about origin, journey and impact to build trust. Reducing or eliminating fraud and errors in the supply chain.
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