We all heard or read about the hype surrounding Twitter’s initial IPO a few weeks back. A stellar success by all accounts although like me, I’m quite sure you never got your hands on any shares to make a healthy profit. The social media darling – who has yet to make any profit of its own is worth way more than British Sky Broadcasting Group and almost worth as much as the once-mighty Royal Bank of Scotland, i.e I don’t think I can afford to buy it anytime soon.
It got me wondering how in this modern day, a product (can I call it that?) that limits the person to communicate in 140 characters or less would be doing so well. Surely, nowadays with all the modern technology, bandwidth and storage space, we could communicate in a gazillion characters if we wanted to. Well, I suppose we could, but rest assured - you won’t have many people reading it! Time has become so critical to many people that bite-size pieces of information makes keeping up to date on trends, fashion, politics or some z-list celebrity much more achievable. They even have News on TV that is done and dusted in 60 seconds and I still feel like I understand everything important that’s going on.
So along with this thought, I wondered further about taking a ‘twitter’ approach to sourcing. Procurement may have moved leaps and bounds since I first started in this industry but it still take lots of time and effort to write up specifications, requirements and general info just to get a proposal out to your supply base - Never mind the effort they have to go through to complete it all. Oh, and yeah, you have to read all of it as well... best get the coffee brewed now. It’s going to be a long three months!!
To be continued...