An Industrial Internet of Things Approach for Pharmaceutical Industry Growth

Abstract

This chapter deals with the basic introduction to the concept of Internet of Things (IoT) which is a concept that enables a device to connect to the Internet or other devices, hence forming a giant ecosystem. The IoT platform acts as the brain of the system, while the devices linked together via IoT function as limbs. These devices can be controlled from anywhere. There are certain requirements that a device must fulfill to be called an IoT device, such as its capability to connect to the Internet or if it’s integrable with technology involving sensors and software. A perfect example of such devices is the Radio-Frequency Identification (RFID)—technology which uses electro-magnetic fields to automatically recognise and track tags attached to objects. Another well-known and useful technology is the Global Positioning System (GPS)—using which real-time continuous data or information can be gathered from vehicles, ensuring ease in shipping facilities. There are numerous advantages that IoT could provide us with, time-saving being a crucial one. On the other hand, it is equally important to consider some demerits of these smart devices as many fear that their increasing popularity may take control of life eventually, with increasing AI technology. This chapter shall cover the fundamentals of IoT and how IoT devices are gaining popularity in this era. IoT becomes a lot more interesting and useful when applied to the Pharmaceutical Industry, which will be our major area of focus in the next section of the chapter. There have been a lot of discussions on the obstacles faced by the pharma industry which include issues like—lack of professionals in the industry, poor industry standards, high investment costs, lack of transparency, amongst many others. Introduction of IoT to pharmaceuticals has opened up a plethora of solutions to the above-mentioned problems, thus facilitating faster and efficient supply to the ever-increasing market demands. This section provides a detailed study on how the application of IoT devices in this industry ensures improved supervision of manufacturing of drugs, preventive maintenance of machinery, and improvement in supply chain management. For example, to bring about transparency in the manufacture of drugs, sensors can be used to monitor the physical factors that could affect the state of the drugs. If safety levels are breached, an alarm is triggered. In terms of Supply Chain Management, several difficulties can present themselves before the industry such as vehicle accidents or breakdown, loss of conveyance, etc.—problems that could prove to be a major setback for the industry and the clients. However, the above advantages come with slight disadvantages as well, privacy being the main area of concern. Client information must be handled with utmost care. Data Security should be taken seriously as any lag in this area could lead to major issues in terms of cybersecurity. The digitalisation of the healthcare industry worldwide leading to the linkage of IoT with pharmaceuticals has proved to be a huge step forward for society as a whole. Pharma organisations can benefit greatly from real-time analysis of factors such as production, shipment, conveyance management, etc. owing to improved tracking facilities and enhanced connectivities through IoT.