|In This Issue ...
- March Manufacturing ISM Report On Business®: PMI at 53.4% — Read more.
- Feature Article: How to Build a High-Impact Indirect Sourcing Organization — Read more.
- ISM Announces Finalists in Awards for Excellence in Supply Management — Read more.
- Website of Interest — Read more.
- Term of the Day — Read more.
- It's Easy to Subscribe to the Just in ETime Newsletter — Read more.
- Contact Us — Read more.
|March Manufacturing ISM Report On Business®: PMI at 53.4%
Economic activity in the manufacturing sector expanded in March for the 32nd consecutive month, and the overall economy grew for the 34th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The PMI registered 53.4 percent, an increase of 1 percentage point from February's reading of 52.4 percent, indicating expansion in the manufacturing sector for the 32nd consecutive month. The Production Index increased 3 percentage points from February's reading of 55.3 percent to 58.3 percent, and the Employment Index increased 2.9 percentage points to 56.1 percent. Of the 18 industries included in the survey, 15 are experiencing overall growth. Comments from the panel remain positive, with several respondents citing increased sales and demand for the next few months."
To read the entire release, click here.
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|Feature Article: How to Build a High-Impact Indirect Sourcing Organization
When launching a new supply management organization, the most often-asked question is: Where do we start?
This was the burning question Terex, a global manufacturer of construction and industrial equipment with global sales (at the time) of US$9 billion, faced in 2007. The company was organized in five global segments, each containing several business units. A new corporate supply management organization was being formed, and the pressure was on our team to show results. Global indirect spend was my responsibility. Terex defines indirect spend as all purchases of goods and services that aren't on the bill of materials of the products it manufactures and sells. Some examples include office supplies, MRO, energy, travel, contingent labor and employee benefits.
The process of ensuring the team met the management team's expectations broke down into four basic steps: 1) Determine where they were spending money, 2) Conduct an opportunity assessment, 3) Plan adequate resources; ensure the capacity to achieve savings objectives, and 4) Shift the focus to ongoing supplier management.
For a detailed breakdown of the process, read this eSide Supply Management article online.
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|ISM Announces Finalists in Awards for Excellence in Supply Management
Supply management departments at 13 companies are among the finalists in the Institute for Supply Management™ — Michigan State University Awards for Excellence in Supply Management. Finalists in the 2012 competition were selected from applications received in an online submission process held from July 1, 2011 to September 16, 2011. Multiple entries were welcomed in one or more of the following categories: Process, People, Organization/Structure, Technology and Sustainability.
ISM will announce winners from among the field of 16 finalists in April 2012. Representatives from winning organizations will present their stories of excellence in supply management in Baltimore at ISM's 97th Annual International Supply Management Conference and Educational Exhibit, to be held May 6-9, 2012.
The 2012 Institute for Supply Management™ — Michigan State University Awards for Excellence in Supply Management Finalists (and Categories) are:
- Bank of America — (Sustainability)
- Bombardier Aerospace — (Sustainability)
- Boston Scientific Corporation — (Organization/Structure)
- Cisco — (Process)
- Delphi — (Organization/Structure)
- Delphi — (People)
- Hewlett-Packard Company — (Sustainability)
- IBM Corporation — (Process)
- IBM Corporation — (Technology)
- Rolls-Royce — (Process)
- Sodexo, Inc. — (Technology)
- Symantec Corporation — (Process)
- The American Red Cross — (Organization/Structure)
- T-Mobile — (Process)
- T-Mobile — (Sustainability)
- Tyco International — (Process)
The Institute for Supply Management™ — Michigan State University Awards for Excellence in Supply Management are open to supply management departments of all sizes and geographic locations, both domestic and international.
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|Website of Interest
This month's Website of Interest is SCRM Blog.
SCRM Blog is the work of blogger Daniel Dumke, a research student at the University of Technology (TU) in Hamburg (Germany), whose major interest is in strategic network design under uncertainty. In this blog, Dumke deals with supply chain risk management issues from a scientific perspective, offering applicable research in the form of books and scientific articles that cover new developments in business and best-in-class strategies to mitigate risks. Sections include design and strategy, risk mitigation, business and research tools, and empirical research.
Please note: These external Internet addresses contain information created, published, maintained or otherwise posted by institutions or organizations independent of ISM. Links from these websites, or any other website(s) accessible from these websites, to any product, entity, service or information, do not constitute a recommendation by ISM. ISM is not responsible for the contents of any other website.
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|Term of the Day
Today's ISM Term of the Day is: INVENTORY BUYBACK.
Definition: An offer by the supplier to repurchase their customer's inventory that has not sold, is obsolete or is otherwise no longer needed by the customer.
A different Term of the Day is posted on the ISM Home Page each day — seven days a week. The Term of the Day is taken from the ISM Glossary of Key Supply Management Terms.
ISM members can access the online Members Only Glossary which includes terms from the private, public, and various industry sectors, and from a wide variety of sources. The Glossary can be browsed alphabetically, or searched by keyword.
Access the online Glossary.
If you are not a member but would like membership information, visit the ISM website.
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|It's Easy to Subscribe to the Just in ETime Newsletter
To receive Just in ETime:
- First, log into the ISM website using your username and password.
- If you have never created a profile/account on the ISM website — or if you don't remember if you have an account — click "Log In" in the upper right-hand corner of the ISM Home Page.
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- If you do have an account, the ISM system will email you your username and password.
- If, however, the system tells you the email address was not found in our records, you will want to create a new account. Do this by clicking the "My Account" tab in the upper right-hand corner of the ISM website, followed by "Create New Account."
- Once you've created your new account, proceed to the "Manage Newsletters" link, which is also found under the "My Account" tab.
- Finally, select Just in ETime from the list of available newsletters and click the "Update Subscription" button at the bottom of the page.
If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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