A Simple Approach to Understanding Blockchain
Blockchain has been a serious buzzword in the last few years. This booming trend has been adopted in countless industries, yet many are still confused on how this system works.
Contracts today are changing, and a new type of contract called a “smart contract” is becoming even more common. A smart contract is also known as a cryptocontract. Like a traditional contract, a smart contract dictates the rules and agreement but does so electronically, simplifying the overall transaction.
It is possible for warranties to generate revenue for companies, but most companies do not do this. Many customers see warranties as a significant factor when choosing a company to satisfy their needs.
Utilizing a blockchain strategy has the ability to change the way you run your manufacturing plant in various ways. Through this technology, you can enable "on-demand" manufacturing, equipment leasing, smart contracts, and more.
There are six common causes of equipment-based productivity losses in the manufacturing industry. It is important to both know what the losses are and how to address them in order to understand your company and how it can continuously be improved.
Industry 4.0 Technology has all the tools you need to automate and simplify every part of manufacturing, transforming both the way your business runs and your ability to devote time to determine where you want your business to be headed.
All too often, supply chains are hampered by paper-based systems. Within these systems, forms have to pass through numerous channels for approval which increases risk. Recently, companies have begun to look at smart contracts, a blockchain-based solution that eradicates this inefficient system by providing a secure and accessible digital version to all parties involved.
Today end-users are met with unique challenges regarding equipment financing. This includes a growing demand for greater operational efficiency to try and produce affordable products while maintaining margins.
Machine lifecycle and overall machine information are important to all parties involved in the manufacturing industry. By providing precise data and maintenance information, OEMs and end-users can equally optimize the information.
Many machine manufacturers today are looking to improve their warranty and contract management process. The goal is increasing their after market revenue while improving operating efficiency.
The Industrial IoT is connecting gadgets, tools, and equipment to leverage the efficiency of advanced machines to benefit the everyday consumer. Unfortunately, today’s consumer is prone to rejecting outdated gadgets and deeming them unusable, regardless of functionality.
Today, a forward-thinking perspective is vital for companies to survive and thrive in a competitive market that is controlled by high consumer demands. Here, we will discuss applications of IIoT (Industrial Internet of Things) in the manufacturing sector and explain how its emergence is changing operations and opening doors to businesses across the globe.
The Internet of Things (IoT) concept involves connecting any device with an on and off switch to the Internet and other integral systems. From cell phones and wearable technolog to home appliances and now industrial machines, technology is becoming smarter and causing entire industries to evolve.
Following the rapid success of Software-as-a-Service in the IT platform, Mardware-as-a-Service, or MaaS, has the potential to become new trend in the manufacturing world. The recent advances in technology and the new highly intelligent cyber-physical systems can change the way revenue is generated for original equipment manufacturers.
When you consider the applications of innovative technology to business success, it is unlikely that equipment financing is the first concept that comes to mind. However, equipment financing has become a critical asset to the financial success and performance capabilities of today’s manufacturing operations.
You’ve probably heard the term “Industrial Internet of Things”. Its a phrase that seems to come up quite frequently in the realms of industry, digitization, and business prioritization. Why is the IIoT so prevalent, what does it mean, and what do you need to know about it? This article will help introduce you to all things IIoT, from origins to optimization.
Bitcoin has emerged as one of the hottest technology topics in the 21st century. While bitcoin is great for grabbing headlines, many technology experts believe blockchain, the software methodology that powers bitcoin, will be utilized across multiple industries in the future.
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