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Does Social Media have a place in the Procurement Industry?  (Part 1)

Procurement industry, which is also known as the acquisition of goods or services, can be recognized as a popular. Almost all the companies which exist try to purchase products or services at the best possible cost through procurement. Therefore there is a big demand for procurement from every corner of the world. The development of technology has taken the procurement industry to another level. It has created an ideal platform for the procurement industry and people prefer to engage in their work with the help of Internet.

The social media networks can be considered as an important aspect in the Industry. A wide range of social media networks can be seen in the present world and Facebook is inarguably one of the most popular social networks around today. Billions of people from all over the world have their own profile on Facebook and more than half of them access their profiles on a regular basis. People engage in various types of activities on Facebook. Business activities on Facebook are not at all uncommon. The procurement industry, like many others, has naturally gravitated toward Facebook because of those reasons.  

Features that are available on Facebook can be considered as the main reason behind the expansion of the procurement industry within the Facebook platform. Facebook is extremely user friendly and people can accomplish their needs with minimal hassle on Facebook. Facebook has made the communication easy and people can maintain regular contacts with others in a convenient way. Communication plays an important role in procurement. The available photo and video sharing facilities of Facebook will assist them to share the audio visual content in an effective way. Facebook can be accessed from any part of the world and people can even use their mobile devices to log on. This flexibility has impressed the business owners and both large scale business owners and small scale business owners tend to seek the assistance of Facebook for their procurement work.

Many product and service suppliers have created their own Facebook profiles because of the demand for procurement industry on Facebook. Business owners can easily search for strategic suppliers and contact them within Facebook itself. It will be convenient for both sides and they will be able to go through the procurement process with less hassle. The problems that arise can be solved within a short period of time and innovation can be shared in a convenient way.

One note of caution: Facebook has a mixed reputation as to the privacy of its users. There have been several publicized privacy breakdowns. Most of these pertain to the amount of personal data recorded by Facebook to analyze and further develop its platform as opposed to outside companies having access, but at the same time, it is a public domain so cautions should be used when conversations turn to items of a confidential nature. If you are talking procurement of office pens the danger of a competitor finding out is very low impact. However, if you are engaged in conversation about different aspects of a new product development or proprietary formula then you may want to consider other forms of communication other than Facebook.

The bottom line as to whether or not your company should use Facebook often involves, well, the bottom line. Facebook offer its services free of charge and you won’t have to pay even a single penny to get their services. Therefore communication, research, and an exchange of ideas that takes place within Facebook is cost effective way of doing things. Facebook has a vital place in the procurement industry that can be seen in the present world when used with intelligence and caution necessary to protect proprietary and confidential information. 

October 16, 2012
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BY Bellwether
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