The Productivist manufacturing ecosystem is being developed as the standard for decentralized smart manufacturing. It provides a framework to allow marketplaces and manufacturers to connect to be part of the decentralized manufacturing ecosystem. Productivist will provide a foundational infrastructure layer for digital manufacturing. Productivist consists of a blockchain protocol which is built using Hyperledger Fabric, the Productivist smart device which interfaces the manufacturing equipment to the Productivist blockchain, and the interconnection of many marketplaces and companies which customers send orders to. The goal of Productivist is to provide a base infrastructure to connect all players in the smart manufacturing economy.
What are the characteristics of companies that are disrupting the manufacturing sector? Disruptive manufacturers have two key attributes: the ability to quickly adopt emerging technologies and the ability to cultivate a culture where employees are open to innovation, easy to train and capable of quickly and proactively adapting to new market trends, processes and operating models. These characteristics enable manufacturers to rapidly implement new technologies and reap the benefits long before their competitors. Which technologies are helping these manufacturers to succeed? Every manufacturer wants to minimise machine downtime and optimise plant floor operations.
The sharp competition and pricing pressures have necessitated stronger selling requirements in the manufacturing industry. Traditional sales cycles are no longer effective in catering to the demands of modern-day customers. The eroding profit margins, error-prone orders, plummeting conversion rates, and multi-channel issues are negatively impacting the bottom line of manufacturers. Today, in manufacturing and industrial distribution, it is much more than just communicating the value of the product. Buyers often come armed with easily accessible information. When we leave the highly flexible price and configure factors of manufacturing into human hands, there is a good probability of errors.
"When you talk about the long tail of the internet that has helped retailers, for example – through Amazon and other sites, they can sell their products all across the country, when previously they were just very local storefronts – that opportunity hasn't existed for manufacturers," says Randy Altschuler, the company's co-founder and CEO. "And Xometry is a platform which unlocks that and allows all these manufacturers across the country, with tremendous skill sets and with billions of dollars invested in machinery, to use those skills and help customers all across the country."
There is a critical need to hire people who can mine these bits and bytes of information and work more closely with customers to use the data to improve equipment performance and open new revenue streams. Indeed, the anticipated efficiency returns from digitization over the next five years across all major industrial sectors are substantial: nearly 3 percent in additional revenue and 3.6 percent in reduced costs per year, according to a recent PwC survey of companies. By proactively leading the digitization effort, industrial manufacturers can earn a growing portion of these gains.