Syncfab Presents Blockchain Solution for Smart Manufacturing

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Syncfab Presents Blockchain Solution for Smart Manufacturing

SyncFab, a market leader in the budding blockchain industry, has begun incorporating blockchain technology to launch the world’s first peer-to-peer industrial OEM precision manufacturing procurement platform adding data security and reconciliation functionality truly Blockchain Solution for smart manufacturing.

Built using DLT (Distributed Ledger Technology) for transaction security and record verification offering improved supply chain visibility and control, it streamlines precision parts manufacturing procurement providing convenient on-demand purchasing, tracking, reordering, real-time quotes, production and quality control updates for an overall more efficient supply chain procurement process. This results in lower marketing, administrative, and manufacturing overheads for both prototype and OEM parts buyers and suppliers manifesting the industrial manufacturing and production supply chain.
According to SyncFab, the manufacturing industry in developed countries, including in the US, has underinvested in capital equipment and over the past 30 years, and now has reached a point where the depreciated production assets are in need of replacement. This means that investments on IT infrastructure updates are going to coincide with large investments by industrial OEMs on manufacturing equipment on new tech such as robotics and better computing processing power. This means large companies that rely heavily on external manufacturers and supply chain partners really need to ramp up their analytics and process-improvement initiatives in order to get more out of their external supply chains.

Blockchain Solution for Smart Manufacturing

Although cross-industry and cross-supplier collaboration are big trends in the manufacturing space today, a lot of technologies being used in these fields are still new and piecemeal, and convenient integrations do not yet exist between them. For large aerospace manufacturers like Boeing and Airbus, they are often still faced with using piecemeal solutions to long-standing problems. By having everything come together on one platform, and by making the move from manufacturing to smart manufacturing using granular data on every step of the manufacturing and supply process, these large OEMs will be better able to optimize processes over time.
SyncFab predicts that by the end of 2018, a lot of would-be institutional participants will demonstrate end-of-year consolidation. He believes that, for the medium term, blockchain and cryptocurrency are here to stay, but right now, companies operating in this space need to weather the storm in order to be able to benefit from real prospects and use-cases for Blockchain Solution for Smart Manufacturing in 2019 and beyond.

Author: Tim Cole
Image Credit: SyncFab

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