R. Gene Richter (1937 - 2003) was a leader and innovator in supply management and a galvanizing force in the field of procurement. Richter led the supply organizations at The Black & Decker Corporation, Hewlett-Packard Company and International Business Machines (IBM). All three of these organizations won Purchasing magazine's Medal of Professional Excellence. His thoughts, ideas, and practices transformed modern thinking in the emerging procurement field. As Vice President at IBM starting in 1994, Richter's work radically and rapidly remade IBM and changed the course of its history. He was instrumental in altering the supply culture and practices to create an innovative supply management organization that was widely hailed as a key to IBM's turnaround. Leadership and innovation leading to transformation were the hallmarks of Richter's time at IBM.
The R. Gene and Nancy D. Richter Foundation partnered with ISM to expand the foundation program into the largest national scholarship program in the field of supply management. It was a goal of the Foundation and the Institute for Supply Management™ to establish the ability to provide for the funding of scholarships on an ongoing basis. As a result, in 2008, with funding from the R. Gene and Nancy D. Richter Foundation and the Institute for Supply Management™, the ISM R. Gene Richter Scholarship Program Fund was established. The fund at ISM has a goal to grow the principle to $2 million. The proceeds from this fund will provide a portion of the scholarships for future Richter Scholars. For more information on the scholarships, go here.