--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

 
Tuesday, May 9, 2006
   


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In This Special Issue ...
  • ISM's Spring 2006 Semiannual Economic Forecast.  Read more.
  • The Online Catch of the Day.  Read more.
  • Purchasing and Supply Chain Management Roundtable.   Read more.
  • Free Web Seminar: Getting Your Arms Around Meeting Spend - A Pfizer Case Study.  Read more.
  • Term of the Day.  Read more.
  • Contact Us.  Read more.


ISM's Spring 2006 Semiannual Economic Forecast

Economic growth in the United States will continue in the second half of 2006, say the nation's purchasing and supply management executives in their spring 2006 Semiannual Economic Forecast.

These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management™ (ISM). The forecast was released today by Norbert J. Ore, C.P.M., chair of the ISM Manufacturing Business Survey Committee, and group director, strategic sourcing and procurement, Georgia-Pacific Corporation; and by Ralph G. Kauffman, Ph.D., C.P.M., chair of the ISM Non-Manufacturing Business Survey Committee and coordinator of the supply chain management program at the University of Houston-Downtown.

Manufacturing Summary
Expectations for 2006 remain high as 72 percent of survey respondents forecast revenues to be greater in 2006 than in 2005. Expectations are higher overall as the panel of purchasing and supply executives now expects a 6.6 percent net increase in overall revenues for 2006 compared to their December 2005 forecast of 5.4 percent. Industries expecting above average improvement in 2006 are: Apparel; Electronic Components & Equipment; Glass, Stone & Aggregate; Food; Primary Metals; Instruments & Photographic Equipment; and Industrial & Commercial Equipment & Computers.

Non-Manufacturing Summary
Sixty-eight percent of non-manufacturing purchasing and supply executives expect their 2006 revenues to be greater than in 2005. They currently expect a 6 percent net increase in overall revenues compared to a 5.8 percent increase reported for 2005. Non-manufacturing industries expecting average or greater improvement in 2006 are — listed in order — Real Estate; Mining; Business Services; Entertainment; Construction; Transportation; Utilities; Wholesale Trade; Finance & Banking; and Retail Trade.

To read the entire report click here.

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The Online Catch of the Day

What's the Online Catch of the Day? That's your one-stop-source where you can find out what's happening in Minneapolis, MN at this year's Annual Conference. The Online Catch of the Day is where we're posting links to press releases, workshop summaries, presentation handouts and slides, and the Conference Proceedings.

To check out what's taken place so far at Conference click here.

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Purchasing and Supply Chain Management Roundtable

A half-day event produced by Economist Conferences
Institute for Supply Management™ is a supporting organization.
June 20th, 2006 at the Metropolitan Club in New York City.

Join Shelley Stewart Jr., ISM Board Member and VP of Operational Excellence and Chief Procurement Officer, Tyco International and Lisa Martin, ISM Board Member and VP, Global Sourcing, Pfizer, at this invitation-only event for senior executives. Thought leaders from General Dynamics, Lucent, American Express, and more will attend. SAP is the event sponsor, and ISM is the supporting organization.

To view the agenda and request a *complimentary* invitation click here.

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Free Web Seminar: Getting Your Arms Around Meeting Spend - A Pfizer Case Study

May 18, 2006
11:00 a.m. PST

Having established a comprehensive cost control program for corporate travel, Pfizer looked at meetings as the next logical area to apply strategic sourcing principles and drive savings. With meeting spend, minus airfare, of over $1 billion, demonstrating buying power was not the problem. Creating an effective program that also meets the diverse needs of all the company's global, decentralized meetings organizations had its own challenges.

Please join speakers from Pfizer, OnVantage, and CAPS Research as they share their experience on meeting spend. When you attend this complimentary Web seminar, specifically, you will learn about:

  • Identifying roles of the procurement organization in a meeting spend management program
  • Driving standardization across multiple divisions
  • Using data to leverage volume across the supply chain
  • Discussing challenges of a global program and how to overcome them

For more information or to register click here.

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Term of the Day

Today's ISM Term of the Day is: SERVICE LEVEL AGREEMENT (SLA).

Definition: An agreement between the application service provider (ASP) and the user to determine the scope of work to be provided by the ASP.

A different Term of the Day is posted on the ISM Home Page (www.ism.ws) each day -- 7 days a week. The Term of the Day is taken from the Glossary of Key Supply Management Terms.

ISM members can access the online Members Only Glossary of Key Supply Management Terms 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.

To access the Glossary click here.

If you are not a member but would like membership information click here.

Help us update this Glossary! If you don't find the term or definition that you are looking for let us know. We will be updating the ISM Glossary in the coming months, and your input will be useful for the new edition. To contact us regarding the Glossary, e-mail: mpeck@ism.ws

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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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