- Spotlite360 Technologies (LITE) has begun to commercialize a blockchain and IoT solution for health care industry supply chains
- The solution provides tracking, tracing and sustainability for stakeholders in the sourcing, production, transportation and distribution of medications
- The company believes the solution remedies common weak points in health care supply chains through comprehensive visibility and threat detection
- Spotlite360 provides logistics technology to unlock value, opportunities and efficiencies in a supply chain
- Spotlite360 Technologies (LITE) is up by 1.8 per cent and is currently trading at $1.13 per share
Spotlite360 Technologies (LITE) has begun to commercialize a blockchain and IoT solution for health care industry supply chains.
The solution provides tracking, tracing and sustainability for stakeholders in the sourcing, production, transportation and distribution of medications.
Spotlite360 tailored the software to leverage blockchain, Internet-of-Things sensors and machine learning to remedy common weak points in health care supply chains, through:
- Comprehensive visibility of the supply chain from point of origin to the end-user in a health care setting
- Detection of tampering, theft, loss and damage to protect supply chain integrity and prevent waste
- Promoting accountability among suppliers, distributors and logistics partners
- Limiting providers’ liability by monitoring all relevant assets throughout their journey
James Greenwell, President of Spotlite360, commented,
“We have identified health care as one area in which Spotlite360’s technologies can make a considerable difference at each step in the supply chain. Health care firms are accountable to their patients, employees, regulators and any dependent partners or suppliers, with increasingly high standards in areas such as visibility and reporting.
Spotlite360’s ability to consolidate a variety of tracking methods throughout a supply chain while leveraging technologies such as blockchain and machine learning can provide significant value to clients in health care, and we look forward to bringing these benefits to the industry as we kick off our commercialization efforts to begin gaining market share in 2021.”
Spotlite360 provides logistics technology to unlock value, opportunities and efficiencies in a supply chain.
Spotlite360 Technologies (LITE) is up by 1.8 per cent and is currently trading at $1.13 per share as of 12:48 pm ET.
