Blockchain Technology in Manufacturing
With its ability to foster collaborative ecosystems of suppliers, automate complex processes and track assets with unprecedented accuracy; blockchain in the manufacturing industry is enabling everyone from small-scale producers to global manufacturers to revolutionise their operations — leading to radical efficiencies.
Process and Operational Efficiency
In a sector where continuous improvement and process optimisations are crucial to profitability; blockchain in manufacturing is nothing short of a transformational force. From the automatic execution of production, to real-time demand-driven pricing or even machine-led maintenance; blockchain technology is enabling manufacturers to reduce the need for intermediaries, streamline processes and increase collaboration. All of this helps manufacturers retain their competitive edge while boosting profits.
Simplifying Complex Supply Chains
Manufacturing supply chains are complex. Manufacturers sit somewhere in the middle of a interdependent chain, dependent on their suppliers for parts, and their customers to buy and/or sell their products. With various disparate systems between players, getting a true view of data or the status of individual assets can be an impossible task. Blockchain in the manufacturing industry is changing this. It’s enabling the creation of supplier ecosystems that increase collaboration between the whole chain; providing a way of sharing information securely across organisations, while ensuring no one central authority has ownership or the ability to manipulate the data.