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Procurement and social media . . . is it a pairing made in heaven or the other place?
In this month's Point - Counterpoint discussion, Kelly Barner and Jon Hansen talk about the impact that social media has (and ultimately will) have on our profession.
Today Buyers Meeting Point welcomes Michael Hinkley, an intern at Source One Management Services, as our guest. The Source One Management Services team plays an active part in the guest blogging scene on Buyers Meeting Point. Every month, they send me a submission and we work together to tweak it until it is ready to run.
In September, they sent me a very interesting post on the role of forecasting and planning in procurement. You can read it on Buyers Meeting Point if you’re interested. The only thing is, there was no author listed. When I asked who had written the post, they told me it was from one of their interns and given all of the discussion on the rise of Millennials in the workplace, and the anticipated changes in procurement in general, I thought to myself, this is someone I have to meet.
Michael Hinkley is a student at the University of Chicago majoring in Economics. In his role at Source One, Hinkley is a valued extension of the consulting team, working closely with analysts and project leads to support strategy execution. He is adept at conducting thorough cross-category research of commodities, suppliers, and markets. He also assists in the facilitation of the sourcing process through data analytics and RFP execution. Prior to his role at Source One, Hinkley was a Finance Intern at Green Flash Brewing Co. where he supported accounting processes for the company including analyzing the progress of various supply chain functions and monitoring the profitability of different brands, package sizes, and distributors.
You can read Michael's post on Buyers Meeting Point: Techniques for Accurately and Efficiently Forecasting Demand
Today Buyers Meeting Point welcomes two guests from Wake Forest University: Dr. Jim Narus and Dr. Michelle Steward. They have been conducting research into the role of social media in procurement since this summer and have some results to share with us.
In this conversation, they share some of the results and conclusions from their research, including:
Some of the trends being seen in the B2C 'customer journey' are relevant to B2B customers as well.
Procurement is spending more time using technology at the beginning and end of the process - supplier evaluation and management - than during the middle of the process.
Leading procurement adopters of digital technology are most likely to be new or in tech-savvy industries.
Dr. Jim Narus serves as a Research Fellow at the Institute for the Study of Business Markets at Pennsylvania State University. Professor Narus is involved in a variety of international marketing research projects and also regularly teaches abroad. He has worked as a marketing professor at Wake Forest University since January 1988.
Dr. Michelle Steward is an Associate Professor at the School of Business at Wake Forest University. Her research interests center on issues involving role management and the coordination of internal working relationships, and how each drive superior performance in business-to-business markets.
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