SyncFab Launches New Feature to Restore Disrupted Supply Chains

Manufacturing Blockchain company SyncFab has launched a new feature to help OEM program managers, engineers and custom production parts buyers work more efficiently when procuring parts through its platform.  The feature is designed to make OEM purchase managers’ jobs easier with greater emphasis on dynamic remote work solutions to rapidly evolving external supply chain shocks.

The SyncFab Parts Library seeks to optimize the current workflow of busy procurement managers. This new feature allows procurement managers to upload anywhere from one to ten parts and keep them, as well as subsequent versions, updated in a centralized parts library.

When uploading parts as standalone, or part of an RFQ submission, parts buyers can enable faster re-orders of parts in their library without having to submit a new RFQ and attach the same parts.

Procurement managers can even have these parts tokenized. Parts tokenization enables manufacturers to have unique identifiers for parts to aid efforts in reducing fraud, mitigating recalls with track and trace, save time on regulatory requests and greater intellectual property protection.

SyncFab’s Parts PLM Dashboard is configured for OEM Parts Engineers and Program Managers to organize all relevant information pertaining to each individual part according to industry best practice including Part Drawings, Part Numbers, Part Revision History, and Part Description.

OEM organizational benefits of streamlined part number system include decreased overall project risk, reduced time/work involved in obtaining quotes on prototypes and finished parts, streamlined communication between engineers and suppliers for faster turnaround, minimized overstock of legacy parts inventory, accelerated processing of design revisions and order changes, as well as minimization of errors and delays when launching new product builds.

The announcement from SyncFab comes at a time of major supply chain disruptions by the majority of manufacturers around the globe.  On March 9, the National Association of Manufacturers (NAM) reported 53.1% of manufacturers were facing COVID-19 induced changes in operations. A March 11 report by the ISM revised this to 75% of US companies experiencing supply chain disruptions anticipating they would become more severe after the first quarter.

Earlier this year, SyncFab released several major platform upgrades, including UX improvements to enhance ease of use, an updated MFG Wallet compatible across both ERC20 token and ERC721 tokenization.  Also, the company has introduced new ways to generate rewards/incentives leading to unveiling the industry’s first parts tokenization feature for greater security, parts identification, transparency, and traceability.

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