United States aerospace and defense contractor Lockheed Martin (NYSE:LMT) has signed an agreement with SyncFab, a Silicon Valley distributed manufacturing platform, to streamline supplier capabilities across Switzerland, offering yet another tangible use case for blockchain technology.
Under the new agreement, SyncFab will provide Lockheed Martin with direct access to its parts procurement and supply chain platform, which is built on top of the company's blockchain. The secure supplier intelligence platform connects Original Equipment Manufacturers, or OEMs, to Swissmem members, allowing OEMs to match with suppliers across Switzerland.