by Elizabeth Hines | May 29, 2018 | Blog, Content Marketing, Current Events, Data Security, Data/Analytics, Manufacturing & Distribution, Marketing, Strategy, Supply Chain
While information-heavy companies employ entire teams dedicated to cyberattacks, American factories have quietly been growing more and more susceptible.
It’s been eight years since the widely publicized Stuxnet virus was released to wreak havoc on its unsuspecting victims. Are we in a better place now to deal with a highly sophisticated next-generation Stuxnet-style attack?
[bctt tweet=”Information heavy companies have entire teams dedicated to cyber defense, while American factories have been left more and more susceptible.” username=”Fronetics”]
Most experts say no. In fact, studies suggest that manufacturers, in particular, are increasingly vulnerable to cyberattacks. While information-heavy companies have grown to employ entire teams dedicated cyber defense, American factories have quietly been growing more and more susceptible.
Time to Pay Attention
Ransomware attacks, in which hackers use malware to encrypt data, systems, or networks until a ransom is paid, are alarmingly common. According to a recent report from Radware, 42% of global companies have dealt with this kind of attack. That number has been steadily rising. The number of companies reporting financially motivated attacks has doubled in the last two years.
Manufacturers — if you haven’t been paying attention yet, it’s time. This summer, about half of the organizations targeted by the sweeping Petya ransomware cyberattack were manufacturers. The recent WannaCry virus actually forced a Honda plant in Japan to halt production.
And there’s a bit more: The Wall Street Journal recently reported on what they call a new type of cyberattack that targets factory safety systems. Hackers who attacked a petrochemical plant in Saudi Arabia last year specifically focused on a safety shut-off system.
Is the WSJ right? Is this a new trend? Will hackers begin targeting control-system computers that manage American factory floors, chemical plants, and utilities on a more regular basis? Maybe.
There are plenty of theories that even the most crippling ransomware attacks like Petya and WannaCry are, at their core, motivated by something other than money, namely sheer pleasure in chaos and disruption. The potential damage to factory production and safety systems is growing. Now is the time to wake up and pay attention.
Factories Growing More Susceptible
Factories and manufacturers are at a heightened risk for a few coinciding reasons.
The complexity of our supply chains is a liability. With parts and materials from diverse and sometimes changing sources, as well as networks that can span all phases of production, our supply chains are large and constantly adapting and, because of this, extremely vulnerable.
The intensity of the manufacturing schedule raises a second issue. Many manufacturing facilities run around the clock, and halting factory production for testing is often cumbersome and costly.
The third reason is, of course, the byproduct of a manufacturing sector that has become steadily more data-driven and dependent on information technology. As manufacturing has steadily merged with technology to create the Industrial Internet of Things, we too have unknowingly created a space in which hackers see the potential for massive amounts of under-protected data, equipment, networks, and intellectual property.
How Can We Prepare
We’ve all heard the mantra, “The first step to solving any problem is admitting you have one.” A core concern has been the manufacturing sector’s inability or unwillingness to face this growing threat.
A report summary issued through a joint venture between MForesight and the Computing Community Consortium warned, “There’s a widespread failure to reckon with the risks.” The report recognizes that solving the issue will be long-term and complicated, but offers a few suggestions, including wide-reaching efforts to increase awareness, collaboration with trusted third-party partners, and cybersecurity research and development.
In the shorter term, maybe this can help. Last year the National Institute of Standards and Technology (NIST) released a Cybersecurity Framework Manufacturing Profile that provides a roadmap to managing cybersecurity and reducing risk to your manufacturing systems.
But I think Sridhar Kota, professor of engineering at the University of Michigan, hit the nail on the head in his article entitled A Plan for Defending U.S. Manufacturers from Cyberattacks, when he wrote: “Cybersecurity needs to become a deeply ingrained part of every manufacturing company’s culture — embedded in management decisions, workforce training, and investment calculations.”
The risks to manufacturers are growing from all-too-common ransomware attacks to sophisticated Stuxnet-style assaults targeting our safety systems. Its’s time that we in the manufacturing sector think of cybersecurity, and cyber defense, in absolutely every decision we make. To do otherwise is reckless.
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by Fronetics | May 24, 2018 | Blog, Content Marketing, Current Events, Logistics, Marketing, Social Media, Supply Chain
Influencer marketing capitalizes on the relationship between popular influencers and their followers to help your organization reach your target audience.
By now you’re aware of the latest marketing trend: influencer marketing. For decades, Hollywood elite have been used to promote everything from make-up to movies and now this trend is taking over the most popular social media sites.
[bctt tweet=”Why is influencer marketing so effective? Because buyers trust influencers talking about your products and services more than they trust you talking about yourself.” username=”Fronetics”]
Influencer marketing is a form of marketing in which marketers identify individuals that have influence over potential buyers and create marketing campaigns and activities around these influencers. Why is this so effective? Because buyers trust influencers talking about your products and services more than they trust you talking about yourself.
Is influencer marketing here to stay?
Linqia’s latest report, The State of Influencer Marketing 2018, shows that companies are already taking full advantage of this marketing trend. The report shows that 86% of marketers used influencer marketing in 2017, and 92% of marketers that tried it found it to be effective.
But don’t just take our word for it. Here are some statistics that prove you should pay close attention to this trend.
Infographic: Influencer Marketing and the Supply Chain
(Made with Canva)
With 39% of marketers planning to increase influencer marketing budget this year, B2B companies are quickly seeing the leverage that influencers can have over their target audiences. By teaming up with the right influencer, marketers can easily reach thousands of potential consumers, increasing website traffic and leads.
The bottom line: influencer marketing can be an extremely effective aspect of a B2B business’ content marketing strategy.
Have you tried influencer marketing? How was your experience?
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by Fronetics | May 15, 2018 | Blog, Content Marketing, Current Events, Logistics, Marketing, Supply Chain, Talent
Use these 5 strategies to overcome the supply chain talent gap, filling critical positions with qualified hires and streamlining processes for future talent.
The U.S. Bureau of Labor Statistics projects the number of supply chain management and logistics jobs will increase 26% from 2010 to 2020. That means, in the near future, for every five to 10 job openings, there is one qualified applicant. These are the kind of odds you hope for in Vegas, but not if you’re looking to fill positions, and quickly.
[bctt tweet=”One-third of supply chain and logistics companies have taken zero steps to create or feed their future talent pipeline.” username=”Fronetics”]
It’s no secret — the supply chain is experiencing a major talent gap. In fact, in a recent DHL survey nearly 70% of survey respondents list “perceived lack of opportunity for career growth” and “perceived status of supply chain as a profession” as having a high or very high impact on their ability to find, attract, and retain talent. What’s even more interesting is that one-third of supply chain and logistics companies have taken zero steps to create or feed their future talent pipeline. Don’t be one of those companies!
Let’s face it: Many don’t perceive supply chain and logistics as a sexy profession. But there are real benefits for people that get into the industry. Cutting-edge technology, career growth, and environmental impact are just the tip of the iceberg. There are ways to showcase all the industry has to offer, giving you qualified hiring options and helping manage processes for future talent.
These five strategies will not only help you start hiring supply chain talent quickly, but will also help you implement processes for prospective positions.
5 strategies for overcoming the supply chain talent gap
(Made with Canva)
Takeaway
The supply chain talent shortage is a hurdle, but not a deterrent. Companies need to step up their game when it comes to finding and retaining qualified candidates. Along with these strategies, highlighting your brand’s unique value and culture will make it stand out as an exciting place to work.
How is your company combating the supply chain talent gap?
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by Fronetics | Apr 30, 2018 | Blog, Content Marketing, Current Events, Marketing, Social Media
Also in social media news April 2018: Instagram shuts down API platform, LinkedIn’s updates aimed at helping B2B marketers, and Facebook expands split ad testing.
Facebook has been busy creating updates focused on user security in the wake of the Cambridge/Analytica scandal. Since the data breach, Facebook CEO Mark Zuckerberg has committed to protecting user’s information and outlined several initiatives in the works to “prevent abuse, protect personal data and privacy, improve security, and take down fake accounts.”
One of the key takeaways from the scandal has been the lack of regulations overseeing business practices, as it applies to user data. It is safe to say that new regulations are looming in the not-so-distant future.
[bctt tweet=”“Computer science is undergoing a ‘reckoning’ and an ‘ethics crisis’ not unlike what has happened in chemistry with dynamite, in physics with nuclear bombs, and in human biology with eugenics.” Yonatan Zunger” username=”Fronetics”]
Google engineer Yonatan Zunger wrote in the Boston Globe, “Computer science is undergoing a ‘reckoning’ and an ‘ethics crisis’ not unlike what has happened in chemistry with dynamite, in physics with nuclear bombs, and in human biology with eugenics.” These regulations could have major impacts for advertisers, who have been capitalizing on data collected by social media platforms. Regulations that limit the tracking and retaining of user data will especially affect target advertising that relies on capturing data from target audience users.
Fronetics is staying on top of these changes and will continue to provide social media recommendations and updates on regulations.
Here’s your social media news for April 2018.
Facebook Changes Include More Transparency Around Ads and Pages
Facebook is working to make important changes that are aimed at increasing transparency and authenticity. “By increasing transparency around ads and Pages on Facebook, we can increase accountability for advertisers — improving our service for everyone,” says Rob Goldman, VP, Ads, and Alex Himel, VP, Local & Pages, in a statement on Facebook’s website.
Last October the social media giant rolled out restrictions on electoral ads on Facebook and Instagram. This April, Facebook is expanding those restrictions to all “issue ads” — for example, political topics — so only authorized advertisers that have been approved by Facebook can run issue ads. These changes are aimed at preventing any additional user data and privacy issues.
Facebook is also enforcing a verification process for all admins managing pages with large numbers of followers. “Those who manage large Pages that do not clear the process will no longer be able to post. This will make it much harder for people to administer a Page using a fake account, which is strictly against our policies.”
YouTube Introduces TrueView Ads
YouTube’s new ad format, TrueView for Reach, is its latest update aimed at boosting engagement for advertisers. The format allows advertisers the ability to build ads from 6 to 30 seconds long, with the skip option available after 5 seconds. “Our six-second bumper ads were designed to drive more reach among the audiences you care about, especially as they become increasingly on-the-go. They showcase not only the fun of storytelling in six seconds, but also the benefits of adapting to consumer behavior,” posts Ali Miller, Product Manager, Video Ads, and Khushbu Rathi, Product Manager, Video Ad for YouTube.
Facebook Improves and Expands Ad Split Testing Capabilities
Last October Facebook gave advertisers the ability to create split tests in Ads Manager’s Guided Creation workflow. The new update this month allows users to create tests in Quick Creation flow, making it even easier to manage ads in bulk and test ads against one another. Quick Creation will also feature a dashboard that shows “standard KPIs for the ads in your split test, such as CPM, CPC, CTR and more, to inform your marketing strategy.”
Instagram Cuts Off Older API Platform
In light of Facebook’s data security issues, Instagram announced it is shutting down the API platform, effective immediately. They have also greatly reduced the amount of data developers can access per hour, dropping from 5,000 calls per hour to only 200. Tech Crunch reports Facebook’s bold action to reform its APIs shows it’s willing to prioritize users above developers — at least once pushed by public backlash and internal strife.
LinkedIn Rolls Out Native Video for Sponsored Content and Company Pages
LinkedIn introduced autoplaying native video ads that will appear in the news feed section as stand-alone posts, as well as the ability to include native video on a company page for businesses and publishers. These changes were developed to help B2B marketers grab the attention of their audiences and increase engagement. “While video is a proven and popular tactic to engage decision-makers, the challenge has been finding a quality environment in which to reach them.” The update will be available to all businesses in the next few weeks.
Twitter Expands its Official Partners Program
Back in 2015, Twitter introduced its Official Partner Program, a select set of companies aimed at helping brands increase their ROI on advertising, brand awareness, and scaling customer care. The program has been so successful, Twitter announced it’s expanding the program to include six new partners: Curalate, Jebbit, VidMob, Vidsy, Animoto, and Social Native. “Each provider offers a unique solution that expands the advertisers’ toolset and delivers high-quality creative for brands on Twitter.”
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by Jennifer Hart Yim | Apr 26, 2018 | Blog, Current Events, Logistics, Strategy, Supply Chain, Talent
With the rising demand for professionals in Supply Chain Management and Procurement, there’s a lot of employment activity, especially in short-term contracts.
This guest post comes to us from Argentus Supply Chain Recruiting, a boutique recruitment firm specializing in Supply Chain Management and Procurement.
As a boutique recruitment agency, we at Argentus are on the front-lines of the churn in the job market. We speak with potential job candidates every day. Some of them are passive, interested in moving into new opportunities when we reach out to them. Some of them are active, reaching out to us because they want to make a move. With the economy experiencing a prolonged growth spurt, and demand for professionals in Supply Chain Management and Procurement – our area of specialty – going up, there’s a lot of activity, especially in short-term contracts where companies are onboarding talent for their change management and business transformation expertise.
There are so many reasons why people seek out a new job. Sometimes it’s based on major life changes: a geographical move, say, or someone getting back into the workforce after a maternity leave. But why do passive candidates seek out new jobs, particularly in Supply Chain and Procurement?
We speak to a lot of candidates, so we have our ears to the ground in terms of the subtler reasons that star performers in these functions get the desire to make a move. It’s not out of a desire for more money as often as you might think. More often than not, it’s the more intangible factors.
Because employee retention is so important from a cost-saving and culture standpoint, we thought it would be useful to lay out some of the most common reasons why Supply Chain and Procurement professionals become passive candidates:
1. They’re siloed
We hear this reason a lot from candidates, but it still isn’t considered by companies as much as it should be. We know that one of the best ways to grow your Supply Chain career is to gain exposure to diverse parts of the function – from Logistics and Distribution, to Procurement, to Inventory Management, to Planning.
In too many organizations, these functions are siloed off from each-other, and that stops candidates from getting the experience they want to move up into more senior roles. It also stops the Supply Chain from being as effective as it would be if it was fully integrated. Next thing you know, your top performers are taking calls because they don’t want to be pigeonholed.
2. They’re tired of working with outdated technology
Supply Chain and Procurement technology is becoming more digital, just like the rest of the economy. And updating your technological profile can be a massive undertaking, with lots of risks. But the most forward-looking and high-potential candidates want to be working with the latest Supply Chain technology, keeping their skills relevant for the future. If you’re still working only with Excel, you might risk losing candidates to companies that have taken the plunge and invested in continuing technological improvement.
3. They’re not getting support from senior leadership
As we wrote about recently – and we received a ton of feedback on that piece – ineffective leadership in Procurement and Supply Chain can have huge ramifications all the way down a business. If leadership doesn’t have the people skills to help build buy-in for the function across the business, if they micromanage instead of letting managers and sole contributors shine, those people are going to start picking up the phone when a recruiter calls. But it goes upward too: effective leaders in Procurement and Supply Chain will get the itch to move if they don’t have support from C-level executives in a business.
4. Work/life balance isn’t up to snuff
Work/life balance is a hot topic in the talent world, to the point of being a cliché, but it’s worth mentioning: people who don’t have support from a work/life balance perspective will start to seek companies that have work from home policies, flexible schedules, educational opportunities, and other benefits. In 2018, companies can no longer see these programs as “perks” or “throw-ins.” Having solid, articulated work/life balance policies is vital to winning the war for talent.
5. They’re uninspired in the workplace
While Supply Chain and Procurement have historically been seen as “dry” functions, this reputation is changing fast. With the rise of digitization and globalization, they’re becoming more fast-paced, with more strategic potential and impact on a business’ long-term structure and profitability. But some companies still treat their Supply Chain and Procurement employees as purely transactional workers whose jobs are only to fill out orders and put out day-to-day fires. If you’re not being strategic, or not offering opportunities for advancement into more strategic positions, your best Supply Chain employees will, quite frankly, get bored and leave.
6. They’re realizing how indemand they are
As we’ve written about a lot, the retirement of the baby boomer generation as well as greater expectations placed on Procurement and Supply Chain are creating a deficit of talent in the marketplace. With the economy approaching full employment in 2018, this is even truer than it was before. But many companies still aren’t realizing the huge demand for Supply Chain and Procurement talent in this marketplace. Too many companies still have assume their employees are “just happy to have a job,” but take it from us as a company that speaks with dozens of candidates in the field every day: they’re realizing their worth, and fielding opportunities to meet their full potential. If your company isn’t providing those opportunities, they’ll go somewhere that does.
Sometimes it’s a combination of the above factors that causes a top performer to want to leave, and sometimes it’s even other factors we haven’t mentioned. So what does your organization do to retain star performers? As a candidate, have you ever left a role for one of the above reasons, or another that we missed? Let us know in the comments!
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by Fronetics | Apr 23, 2018 | Blog, Current Events, Logistics, Strategy, Supply Chain
Google implemented a supplier diversity program to drive economic growth for small businesses and help boost Google’s innovative culture.
In 2014, Google launched a supplier diversity program to ensure that its staff had the ability to search large and small vendors when purchasing products or services. The tool it developed has helped Google employees create relationships with small businesses, defined as U.S.-based companies with $15 million or less in annual revenue and 50 or fewer employees. Google felt these companies often have a specialized and innovative product or service but might never be discovered simply because of their size.
Getting started
The supplier diversity program was developed out of a company-wide “business inclusion” initiative, in which Google wanted to level the playing field for its current customers and decided to use the same principles for their suppliers. “We realized that if we want small and diverse businesses as customers, we should also want them as suppliers. We wanted to be open for business and have economic impact,” says Adrianna Samaniego, senior global program manager of Google’s Small Business Supplier Diversity program.
Chris Genteel, head of Business Inclusion at Google, attended the National Minority Supplier Development Council (NMSDC) conference in 2012, and quickly understood the monumental impact Google could have on small businesses. The company had the opportunity to influence economic growth for suppliers that were under-represented online, while also gaining access to inventive products that Google users had yet to discover.
Supplier diversity at work.
Samaniego, Genteel, and Adam Gardner, a site program manager at Google, began devoting 20% of their week to developing a supplier diversity program. Genteel says their objective from the very beginning was “to build out a program that was meaningful and not just symbolic.”
The key objectives of the supplier diversity program are defined as:
- Create a program and technology tool that is easy to use by suppliers and Googlers alike.
- Communication is critical: Google commits to responding to suppliers within two weeks.
- Provide benefits for participation: discount on sites, faster payment options for suppliers, and training programs.
- Create an advisory board to add in guiding suppliers.
After laying out the foundational elements of the program, Genteel got to work on developing an internal technology tool for Google staff to search small and diverse suppliers with specialized and innovative products or services.
The result
In 2014, Google officially launched the Small Business Supplier Diversity program. The program focuses on two key components: supplier diversity and innovative skills development.
In collaboration with the Tuck School of Business at Dartmouth College, Google continues to discover, rank, and utilize small suppliers, helping them to successfully compete with larger corporations and increase product and service awareness.
“We now want to invest more in education. We’re digging into our data to understand where we are compared to our metrics of success. And we’re drilling down by community into the community of diverse suppliers to uncover the areas where we can improve,” Samaniego says.
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