Pharmaceutical & Life Sciences
IoT Solutions for Pharmaceutical and Life Sciences
The Internet of Things (IoT) or the Industrial Internet is expected to have a significant impact on pharmaceutical and life sciences manufacturing in the coming decades based on data collection enhancements and how the data is analyzed. These improvements in data collection and efficiency are predicted to boost global GDP by as much as $15 Trillion dollars in the next 20 years and the pressure to develop new drugs, and get them to market faster, is driving pharmaceutical companies to embrace IoT as a “must have” solution.
Data Collection and AnalysisAs the number of Internet connected devices increases, (projected at 50 Billion by 2020), the requirement for high-speed data collection and efficient storage becomes paramount. Once collected and stored, this data only becomes truly valuable once it is analyzed and turned into actionable metrics. Advanced analytics allow manufacturers to achieve this by automatically converting machine data into key performance indicators for triggering alerts or automated processes.
Remote MonitoringIoT technology affords manufacturers the ability to monitor a facility, and everything connected within it, remotely from almost anywhere. Plant managers or Technicians can check the status of a facility or device in real time from any Internet enabled device (Smart Phone, Tablet, or PC). The implementation of predictive analytics makes it possible to identify potential equipment failures and enact swift corrective action. In short, IoT remote monitoring provides pharmaceutical manufacturers with functionality that can increase productivity and efficiency, reduce machine downtime, and lower production costs.
Counterfeit CountermeasuresFor the pharmaceutical industry in particular, IoT’s impact provides the ability to help eliminate drug counterfeiting. The problem of counterfeit drugs continues to push manufacturers to implement better tracking and tracing capabilities throughout production and distribution channel. In linking the IoT monitoring and data collection capabilities in production with intelligent product identifiers such as 2D barcodes and RFID tags, manufacturers create a more complete and quickly available digital record. This digital record can then be verified at Point of Sale or used to validate OEM drugs from Counterfeit drugs in the field.
OpenData for IoT
The OpenData Platform provides all the pieces you need to collect data from the edge of the network and turn it into actionable information. OpenData does all the heavy lifting, communicating with all types of devices from every manufacturer, normalizing data between devices, building calculated points and metrics and securely passing data to your IoT application.