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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.

Blockchain Use Cases in Manufacturing

Whether it’s a standalone solution, or combined with innovative IoT technology, the use cases for blockchain in manufacturing are both powerful and wide reaching.

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Materials Provenance

Provenance of materials enabled by blockchain technology helps manufacturers to address supplier fraud, mitigate disruption and prove sustainability of materials in their supply chain. This is important not only for the manufacturer’s internal operations, but for complying with auditors and regulators, and satisfying the traceability requirements of the retailer/end-customer at the top of the supply chain.

 

 

Machine-led Maintenance

Preventative maintenance (or Machine-led maintenance) is just one of the incredibly powerful solutions created by combining blockchain technology with IoT-enabled devices. With unplanned downtime due to equipment failure a costly issue for manufacturers, being able to address issues quickly or prevent problems before they even arise is key. IoT-enabled devices leveraging secure blockchain technology are providing manufacturers with reliable real-time diagnostics, and tamper-proof maintenance records.

Warranty Management

Blockchain in the manufacturing industry is completely overhauling the traditional warranty management system. From fraud prevention to the automatic execution of warranties, innovative blockchain-led solutions for warranty management are allowing manufacturers to reduce associated costs and provide a better customer experience for warranty claims.

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