Apart Facebook follow-up on stock market, I believe this is a very good post Scott, I am convinced, in a such way, executives are still understimating how socials could allow benefits in business for companies they are managing...or maybe is a topic related to their education...then a step forward is needed !
Almost everybody (maybe not, but most companies do) is using social media nowadys, and there are many advantages using social media for business. But you have to know the tips to perform a successful search so that you won't be disappointed. This article shows some strategies to find a good business partner using LinkedIn. This can also used to "find a supply chain partner".
Fascinating article. I'll admit I was skeptical, as I was when I read that businesses were reaching out to angel investors via Facebook. I still have a major dividing line between social and business in my mind, but that's my issue and I realize I have to break those barriers down.
That said, i like the idea of search for partners through their attributes, such as EDI-capable, drop-ship, etc. Kudos to Retail Universe for addressing some of the security issues as well. It is good to see that companies are harnessing some of he best things about social media and avoiding their pitfalls. It may very well be that a new model emerges that is a practical application for social media for business.
" I'll admit I was skeptical, as I was when I read that businesses were reaching out to angel investors via Facebook."
Social media seem to be where many good things are happening today. It is no surprise that this is where investors are searching for new potential lucrative startups. Social and business may work well together,after all.
I think segmentation of the audience and its data is one of the main strong points of RU. Being able to define what can be searched for by whom makes this attractive for both retailers and suppliers.
In addition, I understand there are additional tools coming onboard that will assist suppliers that don't already have EDI compatible with a particular retailer to add the functionality and verify that it functions properly.
I particularly like the concept of 'orbits' as a means to defining access levels for different users. This is what adds the required organisation to a network thereby making it more usable for the retailers and the suppliers. I think establishing a hierarchy of access as in RU is a good representation of how we develop trust relationships in real life and that's what will make it work. As time goes by and as we get to know people more and more, they move up or down the hierarchy of trust in our minds depending on their behaviour, ethics, professionalism, consideration etc. This is equivalent to how the orbits in RU seem to work.
This article is a very good example of how social media can be used for business purposes, which was also covered in another interesting article entitled "Business Socializing 101". In that article, the focus was on the existing social networks whereas this article talks about a new one called Retail Universe.
Yes these are the plus factors in social media networks like FB, twitter and LinkedIn. It's just how you use it and the approach towards it is the deciding factor. If you use it wisely there will be good returns with less budgeting.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.