Blockchain & Smart Contracts
Blockchain & Smart Contracts
Revolutionize your MRO operations with Blockchain solutions, utilizing Smart Contracts for enhanced transparency, security, and efficiency
A database of transactions
With a chain of individual blocks of data
Distributed across nodes that verify legitimacy
Parties can automate complex business processes
Transparency
Efficiency
Acuracy
Security
Smart Contracts
Trust and Interoperability
Features
Ensure data integrity and traceability across the MRO supply chain with immutable, back-to-birth records
Streamline operations and reduce disputes with self-executing Smart Contracts
Cut operational costs by automating processes and reducing manual paperwork
Reduced shop visits
Part unique behavior patterns and fair market value of parts
Brand value for first-to-market movers
Facing any of these Challenges?
Pain Points
Inability to Monitor Customer Contractual Adherence:
MROs often lack the means to effectively monitor and ensure customer adherence to contractual agreements. This can lead to disputes, unmet expectations, and potential financial and operational challenges for the MRO.
Limited Supplier Performance Tracking and Contract Adherence:
MROs lack effective mechanisms to track supplier performance and enforce penalties when necessary. This absence of robust tracking results in long lead times and inconsistent quality from suppliers, impacting the overall operational efficiency of MROs. The inability to track supplier performance to contract terms can hinder the costing process, affecting cost control efforts and limiting the MRO's ability to make informed supplier-related decisions.
Warranty Delays and Excessive Goodwill:
Managing warranty claims can be complex, resulting in excessive goodwill offerings to customers, significant administrative workload and delays, impacting cost-effectiveness.
Solutions
Implement real-time tracking and reporting of contract adherence via blockchain. Set up automated alerts for milestones and compliance, allowing for proactive management and quick resolution of any deviations. Equally, create gamification for the technicians on the shopfloor, count down turnaround time left before units are late per contractual requirements.
Implement a Supplier Relationship Management (SRM) system that allows MROs to track supplier performance, monitor adherence to contract terms, and automate penalty enforcement when necessary via smart contracts. Additionally, establish clear Key Performance Indicators (KPIs) for suppliers and regularly review their performance against these metrics.
Implement a warranty management module to automate and streamline the warranty claims process. This includes tracking, approval, and resolution of warranty claims. Establish clear and standardized warranty policies that define warranty coverage, terms, and conditions. Utilize data analytics and predictive maintenance tools to proactively identify potential warranty issues. Predictive analytics can help identify components likely to fail, allowing for preemptive repairs and reducing warranty claims.