When SyncFab was profiled by ABI research as the industrial Blockchain market innovator it was clear the market was acknowledging our pioneering leadership position at a critical moment when supply chains were facing crises worldwide. Since 2017 SyncFab had already positioned itself to revolutionize end-to-end procurement and post-procurement bottlenecks, using digital transformation solutions that translate maximum ROI. The challenges are what OEMs face while sourcing specialty parts production from an opaque long tail supply chain.
With increasing success and partnerships over the years and the most needed most painful supply chain use-cases in the industry, SyncFab is not relenting in its mission – to help smart manufacturing SCM through a blockchain-enabled B2B digital SaaS ecosystem that connects hardware supply chain buyers and suppliers. SyncFab’s platform enables production sourcing and fulfillment for custom parts, fosters provenance, permits tracking and tracing, and recalls end-to-end compliance.
This is our 2021 annual review and outlook for SyncFab in the year 2022.
2021 Major Milestones Review
SyncFab has worked to demystify digital transformation in the manufacturing supply chain ecosystem that streamlines accessibility to OEM supply chain buyers, boosts capacity utilization for suppliers, incentivize, secure, and trace production data with the aid of Blockchain while reducing resource waste for the industry. These objectives guided SyncFab to the following significant achievements in the year 2021:
- SyncFab Strategic Partnership with Swissmem
The objective is to revitalize Swiss Trans-Atlantic and Pan-European industrial supply chains with Blockchain. The partnership would offer Swissmem (the national representative of the mechanical and electrical engineering industries in Switzerland) members (over 1200) access to SyncFab’s advanced manufacturing blockchain ecosystem or platform to achieve the following goals:
- Incorporating the surplus capacity and capabilities of Swissmem suppliers with SyncFab’s manufacturing blockchain solution for MFG incentivized RFQs.
- We are ensuring part compliance, traceability, and data security. These provide a uniquely robust supply chain solution for international OEM program management with dynamic supply chain planning requirements following unprecedented coronavirus infection.
- Digitally revolutionize the Swiss ASD, Medical, and Auto Manufacturing Supply Chains with exceptional trans-Atlantic and pan-European OEM program sustainability and accessibility.
- SyncFab added the Experience of General Lee Levy II, USAF (Ret) to its Advisory Board
One of the fundamental developments recorded by SyncFab was welcoming Major General Lee Levy II, USAF, to its advisory boards. The reason is to tap from his 34 years of experiences that cut across rapidly emerging space and aerospace supply chains – a strategy by SyncFab to hasten the adoption of Blockchain in private and public sectors.
- SyncFab Celebrated 2 Years offering the Industry First Operational Enterprise NFT Tokenization for OEM Hardware Parts
4. Complete Platform Refresh for On-Demand Custom Manufacturing with End-to-End Blockchain Traceability
OEM and supply chain buyers are given the convenience to upload their vetted RFQs which are matched with shops with available capacity and prerequisite capabilities helping machine shops streamline their capacity and win more business.
Furthermore, RFQ bidding on SyncFab incentivizes timely RFQ activity with MFG reward programs. Furthermore, SyncFab provides a secure and reliable platform that allows networks of small machine shops to leverage Industry 4.0 digital transformation technology on the shop floor for automation compatible production processes like CNC, 3D printing, lean manufacturing and just-in-time custom inventory.
5. Strategic Partnering with Lockheed Martin for Swiss Supplier Intelligence Platform
Another yet significant milestone by Syncfab was signing a partnership with Lockheed Martin granting access to SyncFab’s secure supplier intelligence platform. This partnership offers an ecosystem that connects Original Equipment Manufacturers (OEMs) to Swissmem members on SyncFab’s platform. In turn, the OEMs get matched with small and medium enterprise (SME) supplier capabilities across Switzerland with an initial focus on ASD.
SyncFab 2022 Outlook
2022 promises to be another busy and industry revolutionary year – stay tuned to learn how SyncFab is ready to leverage on the growth opportunities presenting themselves.
Space Travel, Economy and Technological Innovations
Playing a critical support role in the development of the burgeoning and rapidly expanding space economy will undoubtedly revolutionize many industries, ranging from Defense, Aerospace, IT Hardware, and Telecom sectors. Morgan Stanley stated that the global space industry generates $350 billion currently and estimated that the sector could record revenue of more than $1 trillion or more in 2040. This should give you a general idea of the potential on offer in the rapidly growing space industry.
Launch vehicles and Satellite broadband Internet accessibility appear to be the short and medium-term opportunities attached with space. This opportunity, in turn, drives down the cost of data, enabling internet access to unserved and under-served regions of the world. Investment in mass production of satellites and satellite technology maturation will not only drive down the cost of data, but reusable rockets investments that serve to launch such satellites will also play a central role in reducing the data cost.
Therefore massive investment in reusable rockets and satellite production are to be expected on the near term horizon. There are so many possibilities that private space travel will offer commercially over the coming decade and this will have great impact on the manufacturing supply chain supporting these industries both terrestrial and extra-terrestrial.
Aerospace And Defense Industry
Post-COVID and in the year 2022, commercial air travel and the market would bounce back following the restrictions due to COVID. The speculation is due to global vaccination and the lift of some travel restrictions we have been experiencing.
Furthermore, the existing macroeconomic trends concluded that the market for small and medium-sized aircraft would continue to recover in 2022, with aircraft manufacturers focusing on narrow-body planes positioned to meet the demands. Therefore, any aerospace and defense industry that focuses on innovation would be in a better position for 2022.
Influence of Blockchain on Manufacturing Industries
It’s a foregone conclusion that manufacturing supply chains need to integrate and adopt blockchain technology to facilitate improved visibility, traceability, security and compliance however the only delays coming from corporate inertia and legacy bureaucracies. Integrating Blockchain will eliminate the bottlenecks associated with traditional transactions seen across the supply chains.
Adopting Blockchain would foster tamper-proof, faster, and borderless transactions within the parties involved in the industries. The year 2022 we are hopeful to see some breakthrough in manufacturing industries adopting distributed ledger technology to bridge the challenges associated with traditional manufacturing business strategies.
SyncFab, on the other hand, has positioned itself to provide:
- Space parts supply chain services – range from satellite, rocket, and spacecraft components. With the global space race heating up and many countries/companies becoming the leading participants, SyncFab is also on a mission to support the burgeoning space economy positioning itself in a crucial support role of the space race over the next ten years.
- Defense and aerospace parts supply chain services aim to dynamically scale up manufacturing capacity, traceability, forecasting, cybersecurity, and digital twin while recasting aircraft maintenance and triumphing over mercenary part resellers.
- A platform that integrates digitally distributed manufacturing with blockchain technology. Some of the benefits are:
- Custom rapid quality precision parts for NPI engineers, program management, and OEM commodity procurement teams.
- Supplier incentives and innovative payment programs – for supply chain and finance management teams.
- IT program management office and supply chain risk management – for risk management teams and program management officers (PMOs).
- Supply chain digital transformation for IT PMOs (from procurement to recall).
- Supply chain Defi as a forward looking use case to streamline and support SME supply chain finance ultimately freeing up more capacity
- End-to-end supply chain traceability for carbon emissions – to conform to the new regulatory standards and ESG directives.
SyncFab is ready to partner with companies and suppliers that subscribe to its mission and vision to integrate Blockchain into traditional supply chains and establish the most extensive responsive advanced manufacturing network.
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