The Current State of Manufacturing

4th August 2019

Global Manufacturing is currently going through a technical revolution which has become known as “Industry 4.0”. There is an increasing focus on smart factories and intelligent manufacturing systems that have a greater integration between the physical and digital processes, thus creating “Cyber-Physical Systems”. 

But, is industry 4.0 delivering on its promises? Despite investment, the industry is still seeing widespread issues, including:

  • Outdated or unreachable technology
  • Supply chain transparency and trust
  • Unproductive centralised supply chains
  • Non-conformance management
  • Manufacturing process control
  • Constrained capacity planning
  • Lack of machine health monitoring
  • Energy efficient use of assets

Although there are clearly advances for a manufacturing company that invests in Industry 4.0, research reveals that only 13% of the companies are getting the value that they believe they should. Combining the relevant technologies is key to success and could translate to a £1.2 billion saving for the sector.

Industry 4.0 alone is not providing the benefits that it should be.

Why Blockchain?

By digitising Manufacturing systems using the Blockchain a platform would be created that is a registry and catalogue system for recording, tracking and monitoring any component across all supply chain members. The advantages of Blockchain digital DNA are:

  • Immutable Blockchain based component digital passport
  • The consensus mechanism of distributed ledger system keeps it secure.
  • A tamper-proof audit trail
  • Complete provenance of any component

Combining with Smart Contract technology will make substantial efficiency improvements

The platform would disrupt the traditional manufacturing supply chain structure by engaging a transparent smart contract ecosystem. This will enable the system to act autonomously, ordering tooling materials and making production decisions. This will eliminate the need for human interaction which is a bottleneck on today’s infrastructure. Smart contracts can also be used to create an integrity mechanism between suppliers and buyers, eliminating the trust and compliance issues that exist today.

How Manufactory Will Save Manufacturing?

Manufacturing plants and factories around the world must rely on Blockchain, smart contract and IoT to meet the rising global demand and transform the way we order, control quality, manufacture and deliver components.

Blockchain and smart contract technology has the potential to radically disrupt the current manufacturing business model by enabling trust within the supply chains, streamlining processes and improving transactional security. But most of all it will digitise manufacturing data which can be utilised to increase the effectiveness of any manufacturing system.

Manufactory is combining these technologies into a single easy to use platform that is built by manufacturers, for manufacturers.


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