Syncfab revolutionizes manufacturing by connecting buyers directly to hardware manufacturers.

Not many realize that supply is a huge branch, by the sizes comparable to the most significant and global industries. Now the overwhelming majority of participants of this industry are puzzled with the increase in transparency and reliability of the supply chain, and SyncFab, first of all, advances the idea of use for these purposes of blockchain technology.
The blockchain technology is the most reliable and efficient way of exchange of information between the parties. This technology creates the unchangeable digital register of operations which kept on the distributed network of computers. Potential using the blockchain, of the architecture protected from unauthorized access and full transparency do this technology by the ideal tool for a revolutionized of ways of managing the supply chain today.
SyncFab proposes to use these innovative solutions based on the introduction of blockchain technology in the management of the supply chain.

Thanks to direct interaction of purchasers with manufacturers in the Industrial Internet of Things (IIoT) through its business-to-business (B2B) SaaS ecosystem, SyncFab creates a peer-to-peer and safe ecosystem with high scalability. SyncFab will base on the joint partnership between through public-private. The mutual trust based on public and more transparent system of the supply chain between the purchaser, developers, and producers will be the key and most attractive SyncFab element. It will also allow subjects of small and average business to get access to a blockchain and to become suppliers in those places which were inaccessible earlier.

SyncFab will become the vascular system of worldwide industry and will to resolve the issues in the supply chain, namely:

• Elimination of all unnecessary brokers from the supply chain will allow to retrench expenses, to reduce document flow volume, and also considered to save time spent by brokers and agents for the search of materials and drawing of tender proposals. A public, peer-to-peer (P2P) ecosystem, paves the way to an entirely decentralized supply chain management environment. With Smart Contracts and the Smart Manufacturing Blockchain, the entire system will be more available and profitable for all participants.
• The perfect tool for search of suitable suppliers will allow simplifying work not only for small and medium-sized enterprises but also large corporations. Data on profiles of purchasers and manufacturers and even their successful production orders will register to the ledger, at the same time, each request will leave a digital paper trail of trust and efficiency of the company. Many purchasers and manufacturers will address Smart Manufacturing Blockchain because of the openness for the new suppliers supported with the invariable distributed register of transactions with cryptographic proofs of integrity and access to transaction tokens which can encourage manufacturers to hire the supplier in only a few minutes whereas earlier they could never do it without personal meetings.
• The automated process of tracking of events in all the supply chain provides instant and simultaneous updating of information at all participants of a logistic chain. It will allow reacting quickly to unforeseen circumstances, will create the system of updating of the prices online and considerably will simplify communications between purchasers and manufacturers. Specialist won't need to conduct active correspondence anymore and to make calls.
• The innovative and update in real time software, optimizes all process of purchases, will increase transparency of a data interchange and will accelerate interaction between participants of logistic operations and clients.
• High level of safety, will prevent attempts of deception and fraud, and also guarantees the protection of intellectual property. The Blockchain technology as the digital register of the codes containing the programmed data and enciphering makes entries almost incorruptible in its the distributive networks. As common database where information is stored, checked and matched simultaneously by millions of computers within the consensus accepted by it, the blockchain is considered extremely difficult for cracking. Therefore SyncFab it is an ideal ecosystem for the manufacturing companies anxious with safety and intellectual property.
  
  
  

Workflow for Purchaser Bids on Smart Manufacturing Blockchain

1. Purchaser creates an RFQ (auction listing).
2. Purchaser will submit the budget for the project, including the tolerance amount how many they are willing to go over budget. The proposed budget will be visible to manufacturers, and the sum of tolerance amount will not.
3. Purchaser adds amount token MFG for remuneration. The minimum amount of compensation for participation in the tender of MFG will define for all RFQ auctions.
4. RFQ for participation in tenders includes three packages. If the purchaser wants more rates, they will purchaser two packages in the total of 6 applications.
5. RFQ is sent via Smart Manufacturing Blockchain to several manufacturers for participation in the auction.
6. Manufacturers check RFQ and decide to make a bid.
7. The SyncFab system compares proposals, automatically rejecting proposals above the sum determined by the purchaser. Manufacturers will inform in advance that any rates exceeding admissibility of the purchaser won't include in a package of three applications to the purchaser.
8. Nevertheless, for the manufacturer whose rate exceeds admissible, the opportunity will be provided to reconsider and overestimate the proposals, but only once during the process of the auction.
9. The purchaser selects the winner.