|In This Issue ...
- October Non-Manufacturing ISM Report On Business®: NMI at 44.4%. Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing. Read more.
- BBC World Correspondent to Keynote ISM, NBTA Summit on Travel & Meetings. Read more.
- This Month's ISM Web Event: Spend Analysis Best Practices. Read more.
- eSide Supply Management Article: Doing Business in India. Read more.
- Explore Lessons Learned and Real-World Accomplishments at 9th Annual ISM Services Conference. 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.
|October Non-Manufacturing ISM Report On Business®: NMI at 44.4%
Economic activity in the non-manufacturing sector contracted in October, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee; and senior vice president — supply management for Hilton Hotels Corporation. "The NMI (Non-Manufacturing Index) registered 44.4 percent in October, 5.8 percentage points lower than the 50.2 percent registered in September, indicating contraction in the non-manufacturing sector after two consecutive months of growth. The Non-Manufacturing Business Activity Index decreased 7.9 percentage points to 44.2 percent. The New Orders Index decreased 6.8 percentage points to 44 percent, and the Employment Index decreased 2.7 percentage points to 41.5 percent. The Prices Index decreased 16.6 percentage points to 53.4 percent in October, indicating a slower rate in price increases than in September. This is the lowest reading for the Prices Index since July 2003 when it registered 51.4 percent, and is also the largest one-month decline since the index was first reported in 1997. According to the NMI, three non-manufacturing industries reported growth in October. Respondents' comments indicate ongoing concern about the business environment and the economy."
To read the entire release click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global Manufacturing PMI Sank to Record Low in October.
The world manufacturing sector suffered its sharpest contraction in survey history during October, as the ongoing retrenchment of global demand and further deepening of the credit market crisis negatively impacted on the trends in output, new orders and employment. The JPMorgan Global Manufacturing PMI posted 41.0, its lowest reading since data were first compiled in January 1998 and a level below the no-change mark of 50.0 for the fifth month in a row.
Output, total new orders and new export orders all contracted at the fastest rates in the survey history in October. With the exception of India, which again bucked the global trend, all of the national manufacturing surveys posted declines in output and new orders. The impact of the downshift in global market conditions also had a far-reaching effect on international trade volumes. Although new export orders fell at a slower rate than total new business, all of the national manufacturing sectors covered by the survey (including India) saw a reduction in new export orders.
For the complete JPMorgan release, click here.
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|BBC World Correspondent to Keynote ISM, NBTA Summit on Travel & Meetings
The National Business Travel Association (NBTA), the Institute for Supply Management™ (ISM), and ProMedia.travel LLC, today announced that Katty Kay, Washington Correspondent for BBC World News America, will deliver a keynote speech to attendees of the inaugural ISM and NBTA Summit on Travel & Meetings: Supply Management's Critical Role.
The summit will be held January 27-28, 2009 at the Westin Charlotte in Charlotte, North Carolina. Just one week after the inauguration of a new U.S. President, Kay will offer insight into the political outlook for 2009 and beyond.
Kay reports nightly on U.S. news and politics and is currently spearheading coverage on the U.S. Presidential election for BBC America and BBC World News. She has covered presidential scandals, two previous Presidential elections, and wars in Kosovo, Afghanistan and Iraq. Kay also extensively covered the attacks of September 11, 2001, and the changes it brought to American policy and psyche.
"NBTA is excited to welcome Katty Kay as a keynote speaker at the first-ever NBTA event to focus solely on supply management in travel and meetings," says NBTA president and CEO Kevin Maguire, CCTE, GLP. "Her global experiences and political insight are sure to inspire and shed some light on what to expect in a new Presidential cabinet and political era."
The ISM and NBTA Summit on Travel & Meetings is specifically intended for experienced professionals with oversight responsibilities for business travel and meeting spend within supply management operations. This two-day event will address the challenges of managing travel and meetings and will offer insights and solutions from leading industry professionals.
"In today's economic uncertainty, travel and meetings professionals are now more than ever exploring the challenges they may face in the coming years," explains ISM CEO Paul Novak, C.P.M. "Attendees of the ISM-NBTA Summit will benefit greatly from Kay's analysis of what the future may hold for the U.S. economy and political system."
Complete agenda, registration information, hotel information and sponsorship opportunities are available online: click here
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|This Month's ISM Web Event: Spend Analysis Best Practices
Spend Analysis Best Practices — Winning Strategies in Turbulent Times
Date: November 18, 2008
Time: 2 p.m. EST / 11 a.m. PST
Speaker: Andrew Bartolini, VP-Global Supply Management Research at Aberdeen Group
Note: This free, streaming-only Web seminar is 60 minutes long.
Globalization and economic instability are forcing procurement professionals to look internally to identify opportunities for driving savings and increasing contract compliance. To generate clearer spend visibility and efficiently identify opportunities for savings on enterprise-wide spend, enterprises need to leverage automated spend analysis tools to kick-start more proficient data analysis, classification and extraction.
Andrew Bartolini, vice president of global supply management research at Aberdeen Group, will present findings from the organization's 2008 Spend Analysis Benchmark report, which details the main pressures felt by enterprises today, plus the actions, capabilities and enablers they can leverage to alleviate these pressures.
In this informative Webinar, attendees will gain best practices and insight into industry benchmarks on how to:
- Conduct more frequent analysis of corporate spend to identify opportunities of savings
- Ensure accurate, timely classification of spend information
- Design more strategic methods for sourcing through enhanced visibility
- Develop critical spend reporting capabilities and processes.
Register online at: click here.
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|eSide Supply Management Article: Doing Business in India
India is a hugely popular sourcing destination for good reason: It represents the world's 12th-largest economy, has the fourth-largest purchasing power and boasted a growth rate of 9.4 percent last year — among the fastest-growing in the world. It is also home to the world's second largest labor force at 516.3 million.
Given all this, many supply management professionals will find themselves in India on business at some point. While the country is noted for its rich diversity and complexity, most business is transacted in Delhi, Mumbai, Bangalore and Hyderabad, where common etiquette practices and protocol should be observed.
To read the complete article, click here.
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|Explore Lessons Learned and Real-World Accomplishments at 9th Annual ISM Services Conference
Improve your global services procurement, add value within your travel management and connect better with suppliers when you attend "Building a Strong Services Procurement Strategy: Leadership, Sourcing and Global Perspectives," presented by Institute for Supply Management™ (ISM). The 9th Annual ISM Services Conference will be held December 4-5, 2008 in Phoenix.
This program is designed for supply management professionals responsible for not only acquiring services, but developing the supply chain strategies that support the goals and objectives of the organization.
With more than 17 speakers, it features top experts from organizations including Allstate Insurance Company, Colgate-Palmolive Company, The Dow Chemical Company, Johnson & Johnson, MeadWestvaco Corporation, Nike, Office Depot and more. General session highlights include:
- Services and Global Sourcing Journey — Hear how Allstate Insurance Company has embarked on a new journey in its sourcing strategy: the expansion to global markets.
- Supplier Relationship Management (SRM) for Indirect Materials — Services
Learn from a sourcing expert at MeadWestvaco Corporation on addressing the challenge of developing an SRM approach in the services space.
- E-Sourcing for Services — Hear from a panel of supply practitioners who use e-sourcing tools to competitively bid services.
- The Hub Factor: Making Connections Count — Learn how to network with anyone, anywhere, in any situation in this highly interactive session.
- Your Personal Leadership Guarantees Indirect Procurement Success — A senior leader from Colgate-Palmolive Company will share real-world examples from Colgate to illustrate how to successfully implement an indirect procurement program.
- Developing Internal Credibility and Adding Value Through Strategic Sourcing — In this program, a top leader from The Dow Chemical Company shares how strategic sourcing not only adds value but also improves internal partner engagement.
Concurrent sessions over the two-day period include:
- Lessons Learned After Five Years of Sourcing in a Services Business
- Effective Global Travel Management
- A New Approach to Global Staffing
- Software Contracting From Legal and Cost Perspectives
- Building the Procurement Superhero
- Selecting Cost-Effective Green Supply Chain Programs for Your Organization
- Developing Internal Credibility and Adding Value Through Strategic Sourcing
Cost is $795 (USD) for ISM members and $995 (USD) for nonmembers. Networking time is built into the schedule, and attendees will also have the opportunity to take breaks to visit the Select Supplier Showcase. All sessions are at The Ritz-Carlton, 2401 E. Camelback Road, Phoenix. An ISM rate for accommodations at The Ritz-Carlton is offered until October 31, 2008. Team discounts and pre-conference seminar savings are available online.
For complete conference information, pre-conference offerings and registration information, click here.
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|Term of the Day
Today's ISM Term of the Day is: INTERNATIONAL FINANCE CORPORATION (IFC)..
Definition: A United Nations agency and part of the World Bank, the IFC works to reduce poverty and improve the quality of life in developing countries through encouraging sustainable private sector investment.
A different Term of the Day is posted on the ISM Home Page (www.ism.ws) 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.
To access the online Glossary click here.
If you are not a member but would like membership information click here.
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|It's Easy to Subscribe to the Just in ETime Newsletter
The Just in ETime e-mail newsletter delivers ISM- and supply/procurement-related news and updates directly to subscribers' desktops every other week. You'll receive breaking news, such as the ISM Report On Business®, information on upcoming seminars and programs, changes to ISM's certification programs, as well as Web sites of interest to supply/procurement professionals.
It's easy to subscribe to the Just in ETime newsletter: all you need is your e-mail address. Best of all — there's no charge to become a subscriber!
To subscribe to Just in ETime, click here.
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