DataSpaces - A New Paradigm in Supply Chain Optimisation

Data spaces are a relatively new concept in the field of supply chain management, and they have the potential to revolutionise the way pharmaceutical manufacturers operate. A Data Space is defined as “a decentralised infrastructure for trustworthy data sharing and exchange in data ecosystems, based on commonly agreed principles”. Simply put, data spaces are digital platforms that use advanced technologies such as blockchain and IoT to create an immutable record of all transactions and activities within the supply chain. By providing real-time visibility into the manufacturing process, inventory levels, shipping schedules and much more data spaces can help to optimise production and distribution processes.