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COO innovation - Reducing Supply Chain Risk with Social Media
 

COO innovation - Reducing Supply Chain Risk with Social Media

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Following on from 'The challenges ahead for supply chains’ by McKinsey - Global Survey 90:10 Group proposes utilization of social media provide the solutions to combating supply chain risk.

Following on from 'The challenges ahead for supply chains’ by McKinsey - Global Survey 90:10 Group proposes utilization of social media provide the solutions to combating supply chain risk.

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    COO innovation - Reducing Supply Chain Risk with Social Media COO innovation - Reducing Supply Chain Risk with Social Media Presentation Transcript

    • A 90:10 Group response to:
      Senior executives say their companies manage key trade-offs well, yet see barriers to better performance: rising risk, lack of collaboration, and low CEO involvement.
    • Introduction
      The report indicates when asked about the future (3-5 years) ahead the focus of business has shifted from the ‘down-turn’ tactic of driving down operational costs to the ‘new-normal’ of reducing risk associated with supply chain innovation
      Generally the perceived risk associated with all supply chains has increased. Most notably Customer Service
      The lack of cross-departmental collaboration and customer data are seen as the main weaknesses
      We believe social media, its technologies and the consumer data resulting from it are one solution to reducing this risk. It is this position which forms the basis of our response
    • Risk
      ‘What hasn’t changed much is the amount of supply chain risk that executives foresee.’
      ‘More than two-thirds say risk increased in the past three years, and nearly the same share see risk continuing to rise.’
    • This is not a Western Phenomena
      ‘Respondents in developed Asian countries report more concern than those in any other region: 82 percent say their companies’ supply chain risk will increase in the next five years.’
    • Trade-offs
      One-third of respondents say the biggest barrier to collaborating when managing trade-offs is that functional areas don’t understand their impact on others.
      Between 31 and 40 percent of respondents say their operations teams never or rarely meet with sales and marketing to discuss supply chain tensions.
      Respondents across functions say sales/marketing have the most difficulty collaborating with other functions, with 23 percent citing a problem between that group and manufacturing, and 21 percent between it and planning
    • Key Needs..
      Addressing the challenges companies have identified— improving service and responding to new expectations and patterns of customer demand—requires more and better information, regardless of the geographical scope or the length of supply chains.
      As the marketplace becomes increasingly fragmented, keeping better track of customer information and costs, which can inform and support interpersonal, cross-functional discussions, will help companies prepare for the supply chain uncertainties that lie ahead.
    • Issues..
      Many of the future supply chain challenges will require companies to keep better information on individual costs and customers. Yet only about a quarter of respondents expect their companies will invest in IT systems over the next five years, and only 10 percent of respondents say their companies currently use social media to identify customers’ service needs.
      ‘For example, customer service is becoming a higher priority, and executives say their companies balance service and cost to serve effectively, yet companies are most likely to take a one-size-fits-all approach when defining and managing service-level targets.‘
      The results show a similar disconnection between data and decision making: companies seem to collect and use much less detailed information than our experience suggests is prudent in making astute supply chain decisions.
    • Senior-executive involvement, including hands-on attention from the CEO, is pivotal in managing the cross-functional trade-offs that underpin many supply chain decisions. Yet the role of CEOs at many companies we surveyed is limited or nonexistent.
      Solutions & Opportunities
      Companies that can bridge the functional divides that thwart collaboration will have an edge in creating competitive supply chains capable of fulfilling business strategy requirements.
      Improving service and responding to new expectations and patterns of customer demand—requires more and better information.
    • Social Media is the Answer..
      Social media can allow internal teams to collaborate easily and with improved visibility breaking down silos
      It also allows them to collaborate with external stakeholders at appropriate stages of the supply chain design process
      Social media can allow for improved levels of customer service and closer proximity if managed properly
      Social media can bring in real-time data flows of customer insights on a scale never before achieved
      Social media means all this can be achieved at significantly reduced costs compared to traditional methods
      When pieced together these various applications of social media can allow for vastly improved effectiveness of all supply chains through a synchronised 90:10 Innovation Platform
    • 90:10 Innovation Platform Components
      Monitoring – 90:10 provides ongoing daily monitoring and reporting of related (open) conversations online
      Analyst –A 90:10 analyst close to your business and sector feeds these (open) conversations into your departments and supply-chain planning
      Social API – 90:10 Proprietary Tech allows you to tap into (closed) social data such as within Facebook and couple it with existing CRM data-bases
      Community Manager –We can provide / recruit a community manager to feed (closed) conversations of strategic value into your planning process
      Social Data Repository – All data is fed into a single, searchable data repository to be called upon throughout the supply chain process. Either to highlight / or shape an innovation
      Converged Cross Dept Team – We help you setup and manage a converged team to collaborate beyond silos
      Co-creation – We facilitate co-creation workshops with your external stakeholders and community manager to refine output
      CEO Direct – We have technology that allows CEOs a direct, real-time and unmediated ability to view data and the supply chain process
    • Supply Chains
      CEO Visibility
      Cocreation
      CEO Direct
      Converged Cross Dept Team (Headed by COO)
      Social Data Repository
      90:10 Group Ltd Copyright, 2010
      Social API / CRM
      Community Manager
      90:10 Monitoring
      90:10 Analyst
      Closed
      Open
      Social Media Data Cloud
    • Jamie BurkeCEO 90:10 Groupjamie@ninety10group.com+44 0207 841 2745