Since news of a novel coronavirus first broke out, all eyes have been focused on the global race for a vaccine.

This week, the University of Queensland announced positive results from its COVID-19 vaccine trials and has become the first developer to release its data to an international standard, in what is a promising move toward finding a cure for the virus.

And while a vaccine is paramount, similar health crises have taught us that our ability to combat COVID-19 is not wholly dependent on a vaccine becoming available. Rather, it rests heavily on our ability to manage a global supply chain that can manufacture and distribute vast quantities of a vaccine to billions of people around the world.

Increased demand for Personal Protective Equipment and medical supplies amidst COVID-19 has already exposed vulnerabilities in global medical supply chains. We saw reports emerge of serious shortages in crucial supplies such as glass vials and stoppers needed to house an eventual vaccine. Filling these shortages is only part of the battle - once produced, the question then becomes how we move them.

Tracking medicines along the supply chain

This is where IoT sensors and real time analytics come in.

IoT sensors embedded in packages offer senders end-to-end shipment visibility, which can be crucial for sensitive materials.

Companies such as FedEx are already using sensors embedded in packages, to provide shippers with insight into a shipment’s entire journey, through real-time analytics.

Success of these applications suggest there is a clear role for these technologies in supply chain shipments especially in fields like healthcare where goods must be kept viable following long periods in transit.

IoT sensors and real time analytics capture critical information about location and temperature that can enable smarter, safer real time decisions that ensure medical products get to the intended destination, on time, and in perfect condition.

When you consider the sheer quantity of vaccines that will need to be shipped around the world to defeat the virus the case for IoT managed supply chains becomes clear.

The business case for IoT in medical supply chains

The potential for cost savings is also enormous.

For example, consider pharmaceutical companies that are shipping materials from manufacturers to hospitals. Each year, the pharmaceutical industry loses an estimated $15billion annually just from products that were stored outside of temperature range, while 1.5% of pharmaceuticals overall are rendered unusable because of logistics issues.

By monitoring the status of medical supplies as they’re shipped around the world, pharmaceutical companies have the opportunity to intervene to ensure the safe delivery of crucial medicines – while eliminating unnecessary costs.

While the race to find a vaccine to defeat COVID-19 is ongoing, it makes sense that supply chain managers and pharmaceutical companies are already looking to the logistics of distribution. It is clear that when it comes to ensuring a timely and safe delivery of a COVID-19 vaccine, there is huge opportunity for IoT and advanced analytics to play. Not only can we expect these technologies to play a key role in combating the virus, but it is likely they will transform global medical supply chains and may play a crucial role in ensuring medicines and equipment are directed to where they’re most needed.

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