Supply chain Archives - Social Media Explorer

How to Get Around Holiday Tech Shortages

Sarah Evans — Fri, 03 Dec 2021 16:22:32 +0000

Gaming consoles, smartphones, computers, and tablets are topping people’s wish lists this year. While these devices are always in high demand at the end of the year, finding them in 2021 is a greater challenge than ever. Right now, online retailers’ out of stock product numbers are expected to rise 360% from 2019, with electronics being one of the most affected categories. Supply chain disruptions are hitting the tech industry hard, raising prices by as much as $50 per gadget. Holiday tech shortages are real.

The two main issues affecting new tech are chip shortages and supply chain hindrances. A 30% chip cost increase is anticipated through 2022. Right now, only about 1 in 8 of all global chip manufacturing happens in the US. When it comes to shipping goods from Asia, both sea and air freight have seen absurd cost increases. Sending a 40-foot container from Asia to the US costs nearly 14x what it did 2 years prior. Asia-US air cargo rates are normally higher than maritime, but right now they’re also up 40% since the end of August. Even people willing to pay the higher prices for new tech will find themselves waiting well into January for the goods to arrive.

Savvy shoppers are looking for a way around the shortage. One avenue they can explore is the regifting of used tech. There are more than 120 million used smartphones available worldwide, many in the US already. Simple repairs like battery replacement can return an old device to like-new condition as well.

Learn more about holiday tech shortages and what you can do about it below:

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Retailers Turning To Social Media To Promote Black Friday And Small Business Saturday

Adam — Thu, 25 Nov 2021 13:57:03 +0000

While Black Friday existed long before the Internet was around, Small Business Saturday – which is … [+] now only in its 11th year – was truly born in the social media era.

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Christmas is coming, but first comes “Black Friday,” which even in the era of ecommerce and online retailers – not to mention Amazon Prime Day – remains the busiest shopping day of the year. This is the traditional start to the holiday season, and retailers offer some of the most attractive holiday deals.

You can’t help but notice the buzz that has built for several weeks about the possibility of deals the Friday after Thanksgiving. These deals may be rare due to the supply chain issues this year. This is why social media can be crucial in finding the lowest prices this year.

Dr. P.K. stated that social media has been increasingly used by businesses. This is especially true for those who are focusing on Gen-Z and millennial customers. They use this type of media the most. Kannan, Dean’s chair in marketing science at University of Maryland Robert H. Smith School of Business.

Kannan said that gift products, electronics and apparel are all likely to feature heavily in social media. This makes #blackfridaydeals a great medium for searching. These channels should feature any product targeted to these audiences.

Furthermore, the holiday is not only for Black Friday. It will also be valid throughout the four-day holiday weekend as well as into Cyber Monday next Monday.

According to Dr. Dustin York (associate professor of communication, Maryville University), “Retailers, large and small, understand the impact of social media.” Consider turning on notification notifications to your favourite stores via Facebook, Instagram, or Twitter, since retailers might release discounts throughout the day. It’s easier to find deals from these stores on social media than anywhere else.

Go Small

While Black Friday existed long before the Internet was around, Small Business Saturday – which is now only in its 11th year – was truly born in the social media era. American Express created it in collaboration with the National Trust for Historic Preservation. It has been widely promoted via platforms like Facebook since its creation.

While some people may still remember the Yellow Pages’ suggestion to “let your fingers do all the walking”, it is more popular today for your thumbs to do the search. Shoppers can support local merchants as well as smaller retailers around the country by looking for the hashtags #smallbusinesssaturday and #smallbizsaturday.

York stated that local retailers should use Small Business Saturday to increase their power in local searches. Local businesses are promoted by social media and Google search algorithms, therefore digital must be an important factor for business owners. Remember, a majority of local searches online end in a sale – no better day to benefit than Small Business Saturday.”

This holds true especially for younger shoppers.

Kannan stated that small businesses are very effective in targeting customers and converting them on social media. If the product is targeted to Gen-Z and millennial customers, this will be especially true. You can target your customers precisely through social media using their psychographic profile and behavior. This results in highly targeted targeting. Display and video ads can convert with low acquisition costs.

Kannan said that the other benefit of social media is its serendipity in becoming viral hits. According to Kannan, “Gen-Z is more likely to trust their peers than they are advertising pitches. If a small business item becomes viral, this can result in a huge increase in sales. Small businesses should use social media regularly and on Small Business Saturday.

You can be an influencer

For small retailers and brands, a social media influencer could have big results – especially in the run-up to the holidays.

“Social media can be a powerful way for entrepreneurs to profit from the biggest shopping weeks of the year,” Dr. Yuvay Ferguson, Ph.D. assistant dean of Impact and Engagement and professor in School of Business at Howard University.

Ferguson said that although Influencer Marketing can seem intimidating to small-business owners, the power and reach of social networking has proven effective in getting your company seen by potential customers. Don’t be afraid of reaching out to new influencers, even if they don’t have a lot to spend. They may be interested in highlighting brands similar to yours. You can also offer them a coupon code that you could share with their followers. It’s amazing how many people would be open to the idea of your connection. It’s easy to make it a win-win situation by offering a discount or gift certificate for your customers.

The post Retailers Turning To Social Media To Promote Black Friday And Small Business Saturday appeared first on Social Media Explorer.

What Is an End to End Supply Chain and Its Benefits?

Doug Brown — Fri, 05 Nov 2021 02:31:00 +0000

Ones may have been aware of the benefits of an end-to-end supply chain for their businesses.However, not all of them are well-versed in its definition and fundamentals, as well as its relevance to supply chain management.If you’re still in the middle of it, it does not hurt to equip yourself with knowledge of the E2E supply chain from the most basic discussion.

What is the E2E supply chain?

The E2E (end-to-end) supply chain is the activity where the entire supply chain is able to provide the interoperability to support supply chain management.

E2E supply integration chain is another name for end-to-end supply chain.This efficient process begins with the production channel and ends with the supplier.The above mentioned activities are closely related to the whole product cycle.

It entails sourcing raw materials, developing product specifications, manufacturing, scheduling, and delivering products to customers.But the final destination is not always in the consumer’s hands. In some other businesses, there’s a possibility that reverse logistics could happen. For instance, when clients receive defective products, they will return them to the manufacturers in exchange for new products that work well.

The use case of the E2E supply chain has been proven by many companies. One of the most meticulous perks of using this principle is reducing the costs and disruptions. The solutions offered by Agistix can help their clients to minimize material wastage as well.

What makes it different from conventional supply chains?

If you think that the end-to-end supply chain is different from the traditional supply chain, then you are right.

The conventional supply chain works less effectively since the supply elements in the supply chain channel are conducted in separate ways. The E2E supply chain management integrates all of the supply chain features into one entire supply chain. So, when you apply this, your business does not need to use separate features in order to achieve your supply chain objectives. With an all-in-one supply chain solution from Agistix, you can reap the benefits of the flow of goods and information. It will also increase consumer satisfaction in the end.

E2E supply chain integration

The E2E supply chain integration is a revolutionizing way to attain the planning by the business owners to successfully optimize the supply chain. Effective E2E supply chain can provide end to end supply chain visibility of the supply process.

As mentioned, the integration has close relevancy to the product phase. It starts from the product design, raw materials, production, distribution, and even after-sales. The planning solution from Agistix can be used to design the working supply chain and improve your business SCV management.

Advantages of the E2E supply chain

End-to-end supply chain integration allows businesses to manage the overall supply chain process with interoperability and visibility. It is natural for customers to expect their service provider to provide them with pertinent information about their orders.In this case, the information must be accurate and responsible enough so that the business is able to improve the entire supply process and scale up without any problems.

The successful end to end supply chain visibility can help the businesses to reduce their costs, minimize the risks, reduce the disruptions, and the other benefits. With the accurate data that they can retrieve, they can analyze, predict, as well as plan the right strategies for the future.

As we know, the demand patterns of the customers can be changing in the future due to various reasons. The E2E supply chain visibility allows you to have a better control of your business, improve the communications and collaborations. You will make the right decision to meet different customers’ needs in the market as well. Here are the other benefits to consider.

Improve the B2C relationship

The right E2E supply chain integration from Agistix can boost the relationship between customers and suppliers. Direct information in real time is always required to maintain the high quality of the service and customer experience. This will also help the business to produce much better goods in the future.

Save operational, labor, and material costs

Visibility of the effective supply chain can save a lot of money. You can save an exponential amount of money compared to the traditional supply chain. The costs that can be saved come from different areas and divisions. But more often, you will notice the savings in various factors such as operational, labor, and material costs.

Reduce the disruptions and risks.

The global supply chain is a complex thing. It has a lot of barriers and challenges that need to be overcome by all businesses. With the E2E supply chain integration, your business can manage them well. Accurate data will lead you to the right decisions and new strategies to give you better results in the future. As there is an error, your company will be able to respond promptly. That means you are free from any delay or failure in delivery.

The integrated E2E chain solution offered by Agistix makes it easier for companies to predict the demand trends in the future market. With the right strategies, you can avoid the risk of running out of inventory during high demand. You can also precisely control the production and supply during the low season, preventing wastage from happening.

Simplify the complex

Supply chains, whether they are local, national, or global, are complex. But we cannot neglect the fact that it is the foundation of successful businesses and industries in the global market. Individuals who want to participate in the international market must be able to overcome the barriers. The growth of the supply chains to meet the global market demands comes with complex issues.

But E2E integration can guarantee a stable supply chain. The management of the supply chain will become much easier when this high level of visibility occurs in the supply chain.

Verdict

E2E supply chain integration is the best approach in improving the quality of the supply chains. The good flow of information will ease you to manage the supply chains from the early stage to the end.

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Increasing Diversity in the Supply Chain

Sarah Evans — Fri, 16 Jul 2021 16:14:49 +0000

While there is no question that COVID-19 took a toll on all of society, one of the first things people started hearing about in the media was the breakdown of the global supply chain. In 2020, the shortages of necessities like PPE, toilet paper, and food items became so widespread that the general public was getting concerned to the point of hoarding and shortages. 97% of businesses worldwide were affected by the pandemic, which meant lower demand and less revenue for many – if not going out of business altogether. The businesses that were affected the most were small businesses in high rent zip codes.

During the first 2 weeks of the pandemic, these businesses were laying off more than double what low rent zip codes did. From February to April, minority business ownership declined by nearly double than that of white business ownership. This was an enormous setback for increasing diversity in the supply chain. At the same time, public outcry for racial diversity exploded. 70% of millennials saying that they chose to shop for brands that practice increasing diversity, and 60% of people said that a brand’s reaction to protests influenced their buying decisions.

Now that vaccines are widely available and the world is hopefully turning the corner on the global pandemic, it’s time to think critically about building the supply chain right – and diversity is an important part of this. Connecting minority suppliers and service providers is a must have in today’s times. There needs to be an equitable marketplace to allow fairness for all.

Learn more about how to increase diversity in the supply chain in the infographic below:

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