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Manufacturing Blockchain Solutions as Key to Digital Transformation

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Digital platforms can streamline sourcing and procurement to save time and resources. It is essential for manufacturing companies to leverage blockchain technology for security and supply chain transparency. Learning how to utilize such technology can help re-shore jobs & incentivize local manufacturing for clean energy and economic development initiatives. Throughout 2019, many large corporations have been announcing their own blockchain solutions that tend to solve internal problems of large corporations, such as supply chain management. However, a decentralized marketplace for manufacturers could truly change the way parts are purchased and ordered and thus solve many external supply chain problems. Manufacturing blockchain platforms allows buyers to source available capacity on-demand and approve vendors in real-time, which can benefit a number of industries and sectors, including aerospace and defense, automotive, electronic components, medical devices, and renewable energy. Ultimately, this is a new technology that brings blockchain into traditional supply chains and thus allows to develop smart manufacturing for Industry 4.0

Learning Objectives:

  • Understand how digital platforms can streamline procurement to save time and resources
  • Learn how blockchain technology can be used for security and supply chain transparency
  • Grasp the idea of incentivizing local manufacturing for clean energy and economic development initiatives through manufacturing blockchain