Categories: Blockchain

Blockchain Becomes a Boon to SMEs in New SyncFab-Swissmem Partnership

The Swiss Armed Forces and air defence system will use blockchain technology to procure parts for its upcoming Project Air2030. It’s the initial phase of a partnership deal where more than 1,200 Swissmem members gain access to SyncFab, a pioneering Manufacturing Blockchain® solution. The association, which has represented the interests of the national mechanical and electrical engineering industries in Switzerland for over 130 years, believes blockchain technology can lend them a competitive edge in supply chain management.

Likewise, SyncFab founder and CEO Jeremy Goodwin is sure that “working together, Swissmem and SyncFab will digitally transform the Swiss ASD, Auto and Medical Manufacturing Supply Chain with improved trans-atlantic and pan-european OEM program accessibility and sustainability.”

SyncFab has already been a boon to similar sectors in the United States by utilizing blockchain smart contracts and smart manufacturing to optimize the external supply chain available to OEM buyers. The platform streamlines their parts procurement by giving them access to an extensive library that is secured by immutable blockchain transactions.This, in turn, allows SMEs such as Swissmem members to be more competitive. They can become long-term suppliers to large OEMs thanks to the SyncFab platform. 

For Project Air2030, both the Swiss Armed Forces and air defense system have turned to the SyncFab-Swissmem partnership to supply for their offset transaction requirements. These make up 60 and 100 percent of their investment sum, respectively. SyncFab’s blockchain solution will help Swiss SMEs participate in low-cost bids as suppliers for the project.

Eventually, SyncFab’s solution is set to help the entire Swiss MEM industry supply large OEMs ranging from the electronics to the aerospace industries. This is surely the hope of Dr. Stefan Brupbachder, CEO of Swissmem, who noted that “SyncFab provides SMEs in particular with a simple, efficient and more secure way to qualify as a supplier to large, internationally active OEMs.”

Angela Scott-Briggs

Editor, TechBullion.com | Interested in Innovations in Business, Finance, and Technology .

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Angela Scott-Briggs

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