BLOCKCHAIN IN MANUFACTURING
TECHNOLOGY - BLOCKCHAIN
to make the case that blockchain technology can be trusted , sooner rather than later .
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BLOCKCHAIN IN MANUFACTURING
There is great potential for blockchain in manufacturing . Increasing visibility across all areas of the process from suppliers , strategic sourcing , procurement and supplier quality to shop floor operations which include machine-level monitoring and service , blockchain can allow for an entirely new manufacturing business model . Supply chains are the basis of all manufacturing businesses , most of which are capable of making use of blockchain ’ s distributed ledger structure and block-based approach to aggregating value-exchange transactions to improve efficiency . By scaling supplier order accuracy , product quality and track-and-traceability , manufacturers will be able to better hit delivery dates , enhance product quality and ultimately sell more .
Richard Waterhouse , Chief Strategy Officer , NBS , recognises the true value of blockchain and believes its influence will only increase . “ Blockchain
technology is being increasingly used within manufacturing , particularly in the supply chain . Many industries , including aviation and pharmaceuticals , have well-documented problems with counterfeiting , and using blockchain can help ensure that components are genuine ,” he says . “ While mass adoption is yet to be seen in construction products manufacturing , this is only likely to be a matter of time , particularly within the UK as legislation will lead to an increased focus
NOVEMBER 2020