Tag Archives: Risk Management

In today’s highly competitive market, organizations must strategize to create avenues of innovation, efficiency, and increased productivity to hold on to their competitive advantage. An area with room for growth for many firms is more effective supply chain management. With a vast array of social media tools available, organizations can improve operations in several ways including but not limited to increased visibility, communication, coordination, and reduced costs. “Although a vast majority of people reference only the most popular social networks – Facebook, Twitter and LinkedIn when thinking of social media, the true social media experience is much larger for companies. They can engage users through smart phone applications, RFID, IoT, Big Data, business social media (for sharing information between partner groups) in order to help information spread much more quickly.” Ranjan Sinha, Logistics and Supply Chain Management Professional
Can Social Media Support Emerging Management Strategies for the New Supply Chain?
Consultant Kim Doyle offered the following advice to those attending the Women in Manufacturing Summit last month: “Supply chain professionals must adopt a new approach to management to tackle the complex challenges posed by the expanding globalization of manufacturing.” This new approach should include: 1. Improve Supply Chain Visibility Social Media could be invaluable in this regard, provided that companies… Read more »