How does the use of social media data impact the criteria evaluation process during supplier selection?
Best insight from top research papers
The use of social media data significantly influences the criteria evaluation process during supplier selection. Social media signals, such as volume and valence, positively impact supplier selection decisions, with diminishing returns and interplay between the two signals . Additionally, social media information, particularly text sentiment features, enhances credit risk prediction performance in supplier selection processes . Integrating social aspects into supplier selection, especially focusing on criteria like job security, employees' health and safety, and training programs, is crucial for companies to make socially responsible choices . Furthermore, leveraging social media in company strategies can facilitate business activities and improve supplier selection processes, benefiting both theory and practice .
Answers from top 5 papers
More filters
| Papers (5) | Insight |
|---|---|
| The provided paper does not specifically mention the impact of social media data on the criteria evaluation process during supplier selection. The paper focuses on the use of social media in company strategies and its impact on supplier-customer relationship management. | |
Open access 25 Dec 2020 | Not addressed in the paper. |
2 Citations | The use of social media data enhances credit risk prediction for listed enterprises in the supply chain, aiding in better decision-making for supplier selection criteria evaluation. |
14 Citations | Social media signals, specifically volume and valence, positively influence supplier selection. However, their impact diminishes with increasing deviations from the reference price, affecting the evaluation process. |
| Not addressed in the paper. |
Related Questions
How does social media impact impulsive purchases?5 answersSocial media significantly influences impulsive purchases by affecting various factors.Information exchange and timeliness, curiosity, and attention focus are positively impacted by social media, leading to impulsive buying.Additionally, social media enhances hedonic shopping motivation and shopping orientation, directly influencing impulsive buying behavior, especially for fast fashion products.Social media emotions and behavior play a crucial role in driving impulse buying decisions, while advertising and design aspects may not have a direct positive impact.Moreover, social media marketing factors directly increase unplanned purchases and expenses, contributing to impulsive buying behavior.Overall, social media's pervasive influence on consumer behavior through various channels and strategies underscores its significant impact on impulsive purchases.
How do social media influencers affect consumer purchasing decisions?5 answersSocial media influencers significantly impact consumer purchasing decisions through various mechanisms. Influencers create emotional bonds with followers, leading to familiarity and intimacy, which influence purchase decisions. Additionally, influencers' credibility and trustworthiness play a crucial role in shaping consumer buying intent, especially for health-related products. Young consumers often rely on influencers for their purchasing decisions, with attitudes mediating this relationship, particularly among females and teenagers. Despite the influence, purchase intention does not always translate into action, and the choice of social network, like Instagram, can affect the likelihood of purchasing recommended products/services. Overall, influencers' impact on consumer behavior is multifaceted, involving emotional connections, credibility, attitudes, and social network choices.
How does social media impact consumers' purchasing decisions?5 answersSocial media has a significant impact on consumers' purchasing decisions. It influences consumer perceptions of products, brand awareness, trust, and loyalty. Social media platforms provide consumers with access to a wealth of information, product reviews, and user-generated content, enabling them to make informed purchase decisions. Social media also facilitates personalized interactions and engagement between brands and consumers, leading to increased trust and loyalty. It has transformed the way consumers interact with brands and make purchasing decisions, providing increased exposure to products and services and influencing decision-making through social proof and personalization. Additionally, social media advertising has different effects on consumers based on factors such as gender, income levels, and age. Overall, understanding the influence of social media on consumer behavior and preferences is crucial for companies to develop effective marketing strategies and succeed in the digital era.
How social media affect purchasing decision?5 answersSocial media has a significant influence on consumer purchasing decisions. It affects consumer perceptions of products, brand awareness, trust, and consumer loyalty. Factors such as social media marketing, E-WOM (electronic word of mouth), information quality, and trust have a positive and significant impact on purchasing decisions. Advertising on social media, especially in the form of visuals and promos, has a strong influence on purchasing decisions for fashion products. Social media marketing and e-word of mouth have a positive effect on purchasing decisions, and they also influence purchase intention, which in turn affects purchasing decisions. Reviews on social media have an impact on people's purchase decisions, and social media product advertisements are targeted towards teenagers. Overall, social media plays a crucial role in shaping consumer purchasing decisions by influencing perceptions, trust, and purchase intention.
How to use suppliers performance evaluation?5 answersSupplier performance evaluation is an important factor in the supply chain to increase customer satisfaction and maintain company services. There are several methods proposed for evaluating supplier performance, such as the Analytic Network Process (ANP) and the Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE). The integration of these two methods provides more objective and accurate results in multi-criteria decision-making. Another method is the Analytical Hierarchy Process (AHP) which is used to determine criteria weights, and the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) which is used to evaluate supplier performance. These methods help in assessing supplier performance based on various criteria such as quality, cost, delivery, flexibility, responsiveness, warranty and claim policies, and environmental management system. Supplier performance evaluation is crucial for improving company performance and achieving an effective and efficient supply chain.
How does social media influence purchasing decisions?5 answersSocial media has a significant influence on consumer purchasing decisions. It affects consumer perceptions of products, brand awareness, trust, and loyalty. Social media platforms provide buyers with access to a wealth of information, product reviews, and user-generated content, enabling them to make informed purchase decisions. User sharing on social media positively influences consumers' perceptions of risk, understanding of the product, and willingness to purchase. Social media marketing, e-word of mouth, information quality, and trust all have a positive and significant impact on purchasing decisions. Social media marketing and e-word of mouth also influence purchase intention, which in turn affects purchasing decisions. Companies can leverage social media to build brand awareness, trust, and loyalty, and should pay attention to factors such as age, education, and online buying experience that influence the impact of social media on consumer purchasing decisions.