As we all know, supply chain plays a key role in the manufacturing and retail industry. A classic example is the aircraft manufacturing industry, the complex life cycle of an aircraft. As you can imagine, it is difficult to handle such complex operations of a global supply chain network. The planning for manufacturing, resources, and material requirement are just a few considerations in the product life cycle of an aircraft.
Currently, aircraft manufacturing organizations view enterprise resource planning and business intelligence solutions as a tool for strategic management to reduce the cost of operations and complexity of the procedures. However, the aircraft industry is transforming at a very high rate. The advancement in material and high speed machining technologies is drastically changing the dynamics of shop-floor scene. This brings up the need for a more complex strategic management beyond tools such as enterprise resource planning and business intelligence solutions used today.
Blockchain networks can be utilized to improve the business processes. It gives us the ability to track the parts of an asset throughout its lifecycle. The blockchain network has the ability to hold complete provenance details of each component part of the aircraft. Important information such as manufacturer participating in the production process, manufacturing date, batch, machine used for each part can be easily recorded and tracked within the blockchain network. Most importantly, the stored information is only accessible to the concerned party such as manufacturers, aircraft owners, maintainers, or government regulators. An aircraft manufacturer that runs a supply chain network can not only benefit from an efficient tracking system but also from reducing errors in shipments, and the risk of illicit tampering of records.