A nonprofit standards organization has released an electronic product code (EPC) value model that gives drugmakers insight into the costs and benefits of using the technology to secure the supply chain.
EPCglobal developed the model with the Stanford University Global Supply Chain Forum and Eindhoven University in the Netherlands. The model and a new white paper, "Assessing the Value of EPC/RFID in the Pharmaceutical Industry," analyze key business drivers for adopting EPC technology and assess its potential impact, EPCglobal said.
Researchers built the value model after interviewing executives at seven major pharmaceutical manufacturers and two wholesalers, who said counterfeiting, product diversion and reconciliation, along with reducing stock shortages, are the top business issues that EPC/radio-frequency identification (RFID) can address, EPCglobal said. The model includes specific projections based on real-world variables drugmakers input themselves.
For more information, go to www.epcglobalus.org (http://www.epcglobalus.org)