Industry IoT Consortium Announces Valuable-Asset Tracking for Healthcare Networks

Test drive improves supply chain efficiency, saves money

Boston, MA, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The Industry IoT Consortium® (IIC™) announced the Valuable-Asset Tracking (VAT) for Healthcare Networks. The test drive combines tamper-proof hardware and blockchain software to create a trusted and transparent asset tracking solution for valuable assets within a medical facility or among entities of a healthcare network. Initiated by IoTeX, an IIC member since 2018, the VAT Test Drive aims to facilitate collaboration among supply chain stakeholders, improve supply-chain efficiency and user experience, and achieve substantial cost savings.

A lack of transparency, integrity, and availability of supply chain data has restricted operational efficiency and prevented collaboration among stakeholders,” said Howard Kradjel, Vice President, Industry Programs, IIC. “The Valuable-Asset Tracking for Healthcare Networks test drive addresses these industry-wide challenges. It creates a trusted system to track assets in a facility and provide visibility to the flow of medical goods and services from manufacturer to consumer in the supply chain.”

"The test drive combines tamper-proof hardware and software and creates trust among stakeholders in supply chain applications,” said Xinxin Fan, Founding Member and Head of Cryptography, IoTeX, and Co-Chair of the IIC Distributed Ledger Task Group. “The test drive shows how healthcare organizations can improve supply chain efficiency and user experience, and save a substantial amount of money.”

IIC test drives are short-term, rapid-engagement pilots for technology users to employ and adopt IIoT technologies. The IIC Test Drive program fosters collaboration with partners to address leading-edge IIoT use cases in 3-6-month projects based upon technology end users' real problems.

The learnings from the solution, which ensures end-to-end trust and transparency across multi-tiered healthcare supply chains, can be applied to other business fields. You can find more information on the Valuable-Asset Tracking for Healthcare Networks here on the IIC website.

About Industry IoT Consortium

The Industry IoT Consortium delivers transformative business value to industry, organizations, and society by accelerating the adoption of a trustworthy internet of things. The Industry IoT Consortium is a program of the Object Management Group (OMG).

Note to editors: Industrial Internet Consortium is a registered trademark of OMG. For a listing of all OMG trademarks, visit https://www.omg.org/legal/tm_list.htm. All other trademarks are the property of their respective owners.

CONTACT: Karen Quatromoni Industry IoT Consortium 9788550412 Karen@omg.org