BlockchainCryptocurrency News

Blockchain Adopted by Lockheed Martin for Supply Chain Management

 According to the latest reports, Lockheed Martin has gone ahead and collaborated with a manufacturing platform, SyncFab. Sources have confirmed that Lockheed Martin has formed this partnership to explore the blockchain industry with SyncFab’s guidance.

Lockheed Martin is one of the most popular defense and aerospace contractors based in the United States. On the other hand, SyncFab is popularly known as a manufacturing platform operating from Silicon Valley.

The partnership between the firms would see them work together in order to streamline the process of supplies in Switzerland. The companies will be working together to enhance the capabilities of supply chain management. First off, their focus will be to streamline the markets in Switzerland, and then the area of coverage will expand as the project progresses.

The process of supply chain management streamlining will be carried out with the help of blockchain technology. With this, blockchain technology will help streamline yet another sector that will become a more efficient solution for the users.

The sources have confirmed that after forming the agreement, Lockheed Martin will gain direct access to SyncFab’s major platforms. The platforms that Lockheed Martin would gain access to include the supply chain platform as well as the parts procurement platform.

Both major platforms that Lockheed Martin would gain direct access to at SyncFab are based on the blockchain network. With the help of the supply chain platform, the Swissmem members and Original Equipment Manufacturers (OEMs) are able to connect with each other.

Using the particular platform, the Original Equipment Manufacturers (OEMs) can match their prices with the Swiss suppliers as well as get matched to the ones that fulfill their requirements or criteria.

The supply chain platform has been built to act as a matchmaker between the suppliers and the buyers in the Swiss markets. It helps create a strong and long-term relationship between the subject matter experts and the Original Equipment Manufacturers (OEMs).

This would help the experts to be able to compete with larger companies for a longer amount of time in the logistics sector. When it comes to Lockheed Martin, the Swissmem members will be able to directly use SyncFab’s platform to bid on projects.

Swissmem is known for being the association representing the electrical engineering and mechanical industries from Switzerland. The particular association was reportedly formed back in 1999 and the industries in the MEM group are known to be responsible for Switzerland’s one-third exports.

The founder of SyncFab, Jeremy Goodwin also talked shared his views about their recent partnership with Lockheed Martin.

Goodwin stated that it brings the company great honor and privilege to have formed a partnership with Lockheed Martin. With the formation of the new partnership, SyncFab now has access to an opportunity that would grant the company to expand its services across different sectors.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content