ABI Research whitepaper details blockchain ‘Impacting Industrial Manufacturing and Supply Chain Logistics’
Apr 12, 2018
Oyster Bay, New York - 11 Apr 2018
Blockchain is a singular foundational technology that can accelerate the Industry 4.0 movement. Both are leveraging key technologies: automation, connectivity, and digitization, enabling greater intelligence through analytics and data rationalization for smarter operations. The rise of the Industrial Internet of Things (IIoT) and the expanded use of cyber-physical systems will underpin the functioning of modern manufacturing and supply chain logistics and can greatly benefit from blockchain support.
The transition to Industry 4.0 won’t be easy, but blockchain tools such as smart contracts and decentralized autonomous organizations (DAOs) can help resolve some of the teething issues. These findings are highlighted in a new whitepaper titled “How Blockchain is Impacting Industrial Manufacturing and Supply Chain Logistics” by Michela Menting, Research Director of the Blockchain and Distributed Ledger Technology service at ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.
“Industrial progress is not without its range of issues. Contract manufacturing, for example, is increasingly popular with many new players crowding the supply chain. This makes logistics more complex, and there is much less visibility end-to-end for the players involved,” said Menting. “The use of decentralized ledger technologies such as blockchain can provide transparency on product movement, automate numerous logistical tasks, optimize workflows, and reduce friction throughout the value chain,” added Menting.
This whitepaper provides background information on how blockchain can achieve efficiencies in Industry 4.0; defines blockchain, smart contracts and DAOs; as well as highlights the industrial drivers, current and upcoming industrial issues; and the barriers and challenges to blockchain adoption. Several blockchain use cases in industrial manufacturing and supply chain logistics are also detailed.
To download a PDF of the whitepaper, click here or visit https://www.abiresearch.com/pages/how-blockchain-impacting-manufracturing/.
Menting, along with five ABI Research analysts will be available on-site at Hannover Messe 2018 in Hannover, Germany, between April 23-27, 2018 (Monday-Friday) for press interviews and one-to-one business meetings.
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