HOME | BACK

Lean Manufacturing On-Demand Model - A High-Level View


Lean Manufacturing On-Demand Model

The Industrial Internet of Things (IIoT) makes on-demand manufacturing very capable for customized products—from personalized gifts to automobiles—as consumers now demand. Blockchain and smart contracts allow the whole process to be streamlined and efficient for all involved.

For simple example, let's say, skateboards. Go to the website or store kiosk, select your choice the deck, truck, wheels, bearings, grip tape. The ORDER button initiates the financial transaction (credit card), places the order with the skateboard builder giving the builder a partial payment, keeping the rest in a smart contract escrow until completed. Once the skateboard is completed and satisfactorily sent to the buyer, the remaining funds are released to the builder's account. Done.

Add some complexity—a more complex product and a more complex supply line. Say, a car. Like the skateboard, go to a website or dealership, configure your order. ORDER initiates financing giving partial payment to the manufacturer and putting funds in various smart contracts releasing funds to suppliers—as partial payments pre and upon delivery. A constant flow of cash—not do the work, bill it and wait. Fair and efficient to all.