Organizations can apply supply chain traceability to improve their IoT systems for identifying and tracking goods in any industry, such as pharmaceuticals.

IoT sensors can upgrade supply chain traceability systems to ensure products arrive where, when and in the condition that buyers expect.

IoT traceability systems create connections between smart manufacturing machines to automate the entire supply chain process. IoT traceability makes labeling and identification technology more cost-effective and increases efficiency, quality, and transparency for anyone involved in the supply chain, especially manufacturers.

For example, the pharmaceutical industry spends more money on IoT asset management traceability systems because organizations must prioritize compliance with strict global regulations to move medicine through a supply chain. Pharmaceutical IoT traceability systems track individual items throughout the supply chain to protect against medicine counterfeiting. Pharmaceutical supply chains that need to securely track medicine shipments worldwide must meet all regulations to standardize the supply chain that is set by the U.S. Food and Drug Administration; the European Federation of Pharmaceutical Industries and Associations; and Europe, Middle East, and Africa.