April – June 2020 have been all about coming to terms with the rippling impact of COVID19 across giant swaths of industry. Arguably no industry has been more greatly impacted by the pandemic than the supply chains of manufacturers both large and small. Whereas Supply Chain was barely a top 10 priority for CEOs in 2019 it has since been propelled to the Top 3 priorities for CEOs in 2020 along with the criticality of viable Industry 4.0 Technology solutions. This is due in part to widespread supply chain disruptions which are shaking up the procurement industry forcing digital transformation which had been lagging held up by corporate inertia and organizational efficienies at odds with the innovation efforts of smaller companies. Q2 2020 will likely be recorded as a key tipping point in the executive formulation strategies at the Board Level of Major Manufacturers and OEMs concluding that Supplier Diversification and Digital Transformation are no longer optional nice-to-haves but instrumental to sustainable competitive advantage going forward. The VC-backed technology industry response has focused on the enablement of simple remote work solutions. In the context of Manufacturing Supply Chains the required solutions are a lot more intricate and involved than simple payroll, factoring and logistics companies who have been the most recent beneficiaries. At the same time blockchain supply chain innovation efforts continued unabated at SyncFab in Q2 2020 marked by the ongoing rollout of new feature releases and updates addressing rapidly unfolding new challenges faced by manufacturing. SyncFab began the month of April by announcing our groundbreaking OEM Parts Traceability Blockchain Application. We followed this with the launch of a Supplier OEM Part RFQ Dashboard. In May, SyncFab also hosted the MOBI automotive blockchain consortium monthly innovation call presenting to their rapidly evolving supply chain workgroup which is quickly incorporating many of our previously identified use cases as their primary focus areas for 2020. MOBI is a solution agnostic industry consortium of which we remain hopeful that partnerships will emerge as a result of our ongoing collaborative contributions.
This Quarter’s update continues with our efforts to help alleviate the current crisis we are all facing together adapted through our product and service offerings.
In Q2 We launched a New Supplier Dashboard giving Machine Shops streamlined access to OEM Part RFQs for Medical, Aerospace and Automotive requests addressing essential business needs during the COVID19 pandemic along with OEM supply chain diversification requests expected to follow. This Supplier Dashboard update improves supplier’s user experience with the goal of enhancing supplier’s ability to bid on and receive more qualified jobs according to their capabilities, certifications, and availability. This new update focuses on improving supplier benefits, usability and performance feedback originally stemmed from insights gained though our partnership with the NTMA. We will also be offering Instructional Webinars, in partnership with the NTMA, illustrating step-by-step user access to essential business RFQs on the new Supplier Dashboard and how to qualify for MFG incentive rewards for RFQs. Learn about the full scope of our Supplier Dashboard Update.
In Q2 SyncFab launched it’s Track and Trace Tokenization Solution for OEM Parts Recall and Inventory Management in Aerospace, Automotive and Medical — another Commercial Industry First. SyncFab’s OEM Parts Traceability Blockchain Application follows our recently released OEM Parts Tokenization Application. These two solutions combine to form a comprehensive commercial solution for OEM parts Provenance, Recall & Inventory Management in Medical, Aerospace and Automotive. SyncFab continues to lead the industry for development and application of commercial enterprise blockchain solutions for industrial manufacturing. EXPLAINER VIDEO
Important Q1 2020 Summary Developments
SyncFab achieved ITAR registration status which is a necessary designation for Aerospace and Defense subcontracting eligibility.
Industry First – OEM Parts Tokenization for Parts Provenance for IP Protection & Anti-Fraud in Automotive and Aerospace MRO Business-Ready Use Cases
In 2020 Aerospace and Automotive OEM IT Departments and Purchase Managers can now begin Tokenizing their precision hardware part supply chains right at their point of production using SyncFab’s Manufacturing Blockchain Network! SyncFab is the first to combine distributed ledger tokenization technology with an operational distributed manufacturing supplier network enabling parts tokenization right at their point of production. This Industry first feature release followed many months of development and a 2018 provisional patent filing which we expect to convert to non-provisional status with the USPTO in the months to come. EXPLAINER VIDEO
Part to Finish: SyncFab Launches New Look and Solution Offerings for 2020
We’ve redesigned our website with a fresh new look for 2020 as we ready to launch a string of new service offerings under development for most of 2019. It follows the path of the Hardware Part from Start to Finish: procurement to production to authentication to distribution. Soon to follow we will begin offering service bundlings of our new blockchain procurement features in subscription SaaS format which we will announce in greater detail in the coming months.
The SyncFab Parts Library optimizes the current workflow of busy procurement managers. This new feature allows procurement managers to upload anywhere from a single part to ten parts and keep these parts and subsequent versions updated in a centralized parts library for streamlined organization following industry best practices at the same time allowing for faster parts reorders.
We started 2020 by announcing accession to the MOBI automotive blockchain consortium to be a part of their newly formed supply chain workgroup, as we see ourselves possessing comparative expertise here, to begin establishing standards for the industry.
What to expect in Q3: Supplier RFQ MFG Rewards Upgrades, New Patent and Trademark Filings, New Hires to Support Operations and Business Development
In Q3 we will be releasing a major upgrade to the Supplier MFG Rewards feature for greater ease of use and navigation. We also have planned new patent and trademark filings. Additionally we will be announcing key new hires in the weeks to come to further support Operations and Business Development in Q3.
Our team is fully committed to ensuring supply chain continuity to avoid production build schedule disruption for our OEM customers who continue to receive the high quality parts they need while protecting themselves using our remote work digital supply chain sourcing solution. SyncFab offers a remote digital work solution for OEM Part Program Managers and Engineers with access to a full suite of custom precision part production services on standard and expedite fulfillment schedules. Our distributed network exceeding 1,500 suppliers across the US and internationally affords us the flexibility to redirect workflow to maintain supply chain continuity and avoid disruption with the unique addition of supply chain security, authentication and traceability afforded by our Blockchain integrations.
We at SyncFab continue to monitor the development of coronavirus (COVID-19) and it’s impact on our participant community and the manufacturing community as a whole. Please fill out this form for immediate assistance from a dedicated product manager.
SyncFab is Hiring!
We consider ourselves to be a very lean team of highly efficient operatives but we’re always striving to improve so we keep the talent pipeline open for candidates for: 1) Full Stack Blockchain Engineers, 2) B2B Enterprise Software Sales Professionals, 3) B2B Supply Chain Marketing Professionals, 4) Data Analysts.
Stop Corona Virus bottlenecks in your OEM Supply Chain: SyncFab allows OEMs to slash procurement time and cost for precision parts with SyncFab’s rapid response supplier network secured by blockchain for anti-counterfeit, recalls, smart payments & more.
Let us quote your precision machined parts at no cost or obligation to: email@example.com
SyncFab helps Aerospace and Automotive OEM Purchase Managers stay on top of their demanding production schedules while shaving their parts procurement costs as much as half off benefiting from a vetted full range manufacturing capabilities network of 1000s of suppliers. SyncFab’s network precision machining capabilities include multi-axis milling and turning, routing, waterjet, laserjet, EDM, Electron Beam Welding, punching, cutting, shearing and finishing services including anodyzing, coating, plating, polishing and more.
SyncFab also works with OEM IT Departments whose aim is to secure more of their supply chain data with blockchain for ERP module and internal reporting system integration. OEM IT Departments can use their procurement activity blockchain records SyncFab generates to complete a Turnkey Supply Chain Blockchain Proof of Concept, Custom Use Case Pilot or Program Implementation. Furthermore — SyncFab’s patent pending parts procurement tokenization solution can be used to mitigate product fraud — isolate recall cost and time using blockchain track and trace feature technology at a fraction of the cost. Finally, OEM IT and Financial departments can partner to use the industry first MFG Manufacturing Token to create custom smart contract and supplier incentive programs such as RFQ and data sharing rewards.
Calling all Local Blockchain Engineers — Talented and Eager to Make a Difference in Manufacturing? Join Us!
We are always seeking additional blockchain engineering talent. Interested in joining our team? Learn more and apply here.
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