The partnership provides a solution for commercial airlines to address Unplanned Maintenance, which is one of the three biggest operational challenges in the aviation industry, costing $20 billion annually.
ALBSTADT, Germany (PRWEB) May 26, 2020
TE-FOOD, a world class food technology company, and GE Aviation’s Digital Group, a Forbes 50 Blockchain Company, are taking the idea of collaboration to the next level by partnering accross industries to create world class blockchain solutions. The goal of this partnership is to create a product that brings best blockchain technology practices to the aviation industry.
TE-FOOD provides all components for blockchain based, end-to-end supply chain traceability implementations. It gained extensive implementation experience by serving over 6,000 food companies, including leading brands like Auchan, Migros, Vinamilk, Graincorp, Lotte Mart, AEON, and Big C.
TE-FOOD’s solution is based on two pillars:
- Transparency - Monitor supplier compliance
- Traceability - End-to-end supply chain traceability
GE Aviation’s Digital Group understands how blockchain technology can improve the way companies collaborate on Asset Lifecycle Management, Cash Reconciliation, and Asset Transfer Management.
Commercial airlines spend over $20 billion on Unplanned Maintenance (Frost & Sullivan report, 2019). The lack of actionable data on unplanned maintenance, inventory management, and aircraft lease transfer makes these processes inefficient and expensive.
There are a lot of similarities between food trace at a grocery store and trace at an airplane manufacturer with all the suppliers each uses. TE-FOOD is enabling food manufacturers and retail chains to optimize their supply chain processes, as well as to monitor and enforce suppliers to comply with food safety and sustainability requirements. TE-FOOD’s blockchain based digital signature function product recall processes, transparency and traceability processes are adapted to fulfill the requirements of managing unplanned maintenance and asset transfer in non-food industries.
The two companies decided to join forces and adapt TE-FOOD’s solution to non-food industries.
The new Blockchain Solution, will enable aviation OEMs, MRO network, airlines and lessors to track, connect and verify documents, events and batches in one decentralized solution. Users can track contents of component transports, attach documents (purchase orders, delivery notes, etc.) with blockchain based digital signage, connect processes like quality inspection, parts assembly, logistics, repair and overhaul.
Blockchain Solutions enable aviation supply chain participants to
- gather and connect information,
- sign, certify, and verify documents digitally and imbed QR codes for authenticity,
- integrate historical data (including paper records) into the solution for a complete product lineage,
- organize and archive records for quick easy reference,
- store the information in a secure, scalable, and trusted blockchain ledger,
- aggregate and turn the information into meaningful reports and charts.
The solution will utilize TE-FOOD's product traceability framework, and BlockSeal's blockchain based electronic signature and document verification features.
GE Aviation’s Digital Group and TE-FOOD integrated Microsoft Azure Blockchain as the foundation for its new solution.