Supply Chain Management, Manufacturing and Blockchain feat. Joel Neidig [Unido Talks Ep 6]
Show Summary
In this episode, Joel Neidig and Michael Swan address the need for having an immutable record of inventory for manufacturers and suppliers. Listen to this episode if you are curious about how blockchain technology benefits supply chains. Michael discusses the various benefits of blockchain for digitized assets that are not available in legacy systems.
About Joel Neidig
Joel is a serial entrepreneur and inventor, with one exit to a Fortune 100 company. He has 18 years of experience integrating manufacturing technology and software development. He is the President and Co-founder of SIMBA Chain, a Blockchain API Startup.
SIMBA Chain began from a DARPA contract for Secure Messaging on the Blockchain Architecture and a DOE contract for Peer-to-Peer Solar Energy Transactions using Blockchain. The company went on to win multiple awards from Air Force, Navy, Army, and USMC.
Joel sits on the Technical Advisory Group for MTConnect, an open-source royalty-free standard that fosters greater interoperability between devices and software applications. He developed the first iOS and Android-compatible MTConnect apps, and he has developed over 65 manufacturing apps for the App Store and Google Play. He also sits on the Technical Advisory Committee for MxD, a federally-funded research and development organization. One of his career highlights so far was when the National Economic Council invited him to speak on technology at the White House.
Connect with Joel
LinkedIn: https://www.linkedin.com/in/joel-neidig-62971429/
Show highlights
- 11:31 “The (crypto) industry is so much more than finance 2.0... You can record voting for an election with perfect transparency. If it's all done on blockchain you can achieve fantastic levels of efficiency” -
- 24:42: Typically (adoption) comes down to education. If you look at the world of what folks could be doing with blockchain It is not just “do you want some capital exposure to bitcoin?”... It’s not just accepting crypto payments for what you do. You can have various assets, tracking inventory for instance. These can be done on a digital basis.
- 26:30 The idea of inventory sitting on a blockchain distributed amongst thousands of computers of people you have never met before can be frightening. People haven’t thought “how do I manage that?” That’s the education path we need to go down with SME’s.
- 29:00: The ERP (Enterprise Resource Planning) system currently in place is antiquated and doesn’t account for inventory properly.
- 29:24: With blockchain it’s impossible for inventory to get “live in multiple states” This makes for a more efficient supply chain by only ordering what is needed and leaves no room for ambiguity as to where the parts or products are at.
- 32:04: What I think is important and what the industry has lacked since its inception is uniform regulation. We need more than sandpits with test licenses.
About Unido Talks
Hear from blockchain, crypto, Fintech and SME leaders from across the globe and discover the technology and innovations that are shaping the future of finance. Proudly hosted by Unido.
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The information presented in this podcast is general in nature and has been prepared without taking into account your individual objectives, needs or financial situation. You should consider whether the information is appropriate for you before making an investment decision.