Lockheed Martin, the US-based aerospace and defense contractor, has signed an agreement with SyncFab, a Silicon Valley distributed manufacturing platform, to streamline supplier capabilities across Switzerland, offering yet another tangible use case for blockchain technology.
It has been reported that under the new agreement, SyncFab will provide Lockheed Martin with direct access to its parts procurement and supply chain platform, which is built on top of the company’s blockchain. The secure supplier intelligence platform connects Original Equipment Manufacturers (OEMs) to Swissmem members, allowing OEMs to match with suppliers across Switzerland.
However, the platform essentially works as a “matchmaker” between OEMs and subject matter experts, allowing the experts to compete for long-term logistics opportunities with larger companies.
The hype surrounding supply-chain logistics on the blockchain appears to be real as Lockheed Martin enters into an agreement with SyncFab https://t.co/HhVKriA8Ki — Cointelegraph (@Cointelegraph) April 13, 2021
Jeremy Goodwin, the founder and CEO of SyncFab, commented:
“SyncFab is honored and privileged to work with Lockheed Martin in our mission to expand access and digitally transform Swiss Industrial Supply Chains in partnership with Swissmem.”
The report said that SyncFab has secured several high-profile partnerships over the years. In 2018, the company worked with the US Department of Energy to deliver clean energy and smart manufacturing initiatives in the California cities of San Leandro, San Francisco, and Oakland.
Thus, supply chain management is routinely cited by industry as one of the biggest use-cases of blockchain technology.
Source: Cointelegraph | Image: Lockheed Martin