Be Smart When it Comes to Choosing Social Networks

When it comes to social media and the supply chain, popularity isn’t everything. With more than 1.3 billion users, Facebook is the most popular social network. Your B2B business should not use Facebook just because of its popularity.  Rather, your business should use Facebook (or not) because it fits into your marketing and business strategies.…

Social Lurking Won’t Grow Your Business

I wrote previously about the opportunities companies within the logistics and supply chain industries can realize through social listening. I cautioned that to reap the benefits and seize the opportunities afforded by social media, companies need to use the information and intelligence gathered. Using the information and intelligence gathered is essential. There is; however, another…

What Consumer Electronics Companies Need to Know About YouTube

YouTube is a Google-owned video sharing website.  Trending YouTube videos include Farmer Derek Klingenberg’s “Serenading the cattle with my trombone” (more than 5.3 million views) and PSY’s “Gangnam Style” (more than 2 billion views). YouTube is, however, more than music videos and farmers with trombones.  YouTube is an essential business tool for the consumer electronics…

Social Media Influences Consumer Electronics Purchasing

A CEA study found that 24 percent of consumers who use social media say that they always or almost always refer to social media websites before they make a consumer electronics purchase.  For high engagement users (13.5 or more hours per week) this increases to 65 percent. Consumers not only turn to social media websites,…

How Will IoT Impact Purchasing?

The Internet of Things (IoT) – which represents a great opportunity for component makers and OEMs in the electronics market – has implications for the millions of users of IoT applications. Purchasing, I’d imagine, is one of those applications. When I look at purchasing issues, I break them into two separate groups: my issues as…

The Role of Social Media in Supply Chain Risk Management

A study conducted by Accenture found that supply chain risk management is seen by companies as a priority.  Seventy-six percent of companies who participated in the survey described supply chain risk management as important or very important, and 25 percent of respondents reported that they are planning to make increased investments of at least 20…