|In This Issue ...
- February Non-Manufacturing ISM Report On Business®: NMI at 59.7% — Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
- ISM Welcomes First Corporate Program Participant — Read more.
- Feature Article: Plan Tomorrow's Scenario Today — Read more.
- No-Cost Web Seminar on March 30: "Learn How to Effectively Leverage Business Intelligence Tools to Evaluate Supply Chain Risk" — Read more.
- 21st Annual North American Research Symposium on Purchasing and Supply Chain Management: March 17-18 in San Diego — Read more.
- Feature Article: CPSM® Update: 3 Questions, 3 Answers — Read more.
- It's Easy to Subscribe to the Just in ETime Newsletter — Read more.
- Term of the Day — Read more.
- Contact Us — Read more.
|February Non-Manufacturing ISM Report On Business®: NMI at 59.7%
Economic activity in the non-manufacturing sector grew in February for the 15th consecutive month, 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. "The NMI registered 59.7 percent in February, 0.3 percentage point higher than the 59.4 percent registered in January, and indicating continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 2.3 percentage points to 66.9 percent, reflecting growth for the 19th consecutive month and at a faster rate than in January. The New Orders Index decreased 0.5 percentage point to 64.4 percent, and the Employment Index increased 1.1 percentage points to 55.6 percent, indicating growth in employment for the sixth consecutive month and at a faster rate. The Prices Index increased 1.2 percentage points to 73.3 percent, indicating that prices increased at a faster rate in February. According to the NMI, 13 non-manufacturing industries reported growth in February. Respondents' comments overall are mostly positive about business conditions and the direction of the economy."
To read the entire release, click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global Manufacturing PMI at Near-Record High in February
February saw the global manufacturing sector continue its strong start to 2011. The JPMorgan Global Manufacturing PMI™ rose to 57.8, its joint second-highest ever reading, bettered only by May 2004's level of 57.9. Growth of output and new orders accelerated, leading to faster job creation. Inflationary pressures continued to build, however, as input prices rose at the quickest pace in two-and-a-half years.
Manufacturing production rose for the twenty-first successive month in February, with the rate of expansion the fastest since last April. Growth in the US was the second-highest for almost seven years. The recovery in the Eurozone also gathered steam, as production rose to the greatest extent in ten-and-a-half years. Germany remained the strongest performer within the region. Signs of vigor were also exhibited in a number of the 'peripheral' nations, particularly Italy and Ireland.
For the complete JPMorgan release, click here.
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|ISM Welcomes First Corporate Program Participant
Institute for Supply Management™ (ISM) unveils its new ISM Corporate Program with the enrollment of the first participant, Terex Corporation. Terex is a diversified global manufacturer of a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining and utilities industries. ISM Corporate Program participants receive Direct Membership for every supply management professional in their organization, with no minimum qualifications. Annual dues are determined by corporate revenue, at a fixed rate.
According to ISM CEO Paul Novak, CPSM, C.P.M., A.P.P., MCIPS, ISM's Corporate Program provides a new way for ISM membership to grow globally. "With the move to bring in members through the Corporate Program, ISM sets out to transform itself," Novak says. "This transformation includes our continued dedication to individual members of the profession, no matter how they became members — including those who work in these new Corporate Program companies."
A recent change to ISM bylaws (approved by member vote and effective January 2011) now allows corporations, like individuals, to join ISM and, in the process, each of their supply management professionals become Direct Members. This simplified, cost-effective approach helps companies meet their business imperatives by offering unlimited Direct Membership to their entire supply management staff, including subsidiaries globally.
In addition to unlimited Direct Membership, all supply management professionals receive free access to online review courses for the Certified Professional in Supply Management® (CPSM®) and Certified Professional in Supplier Diversity™ (CPSD™) qualifications, and exclusive access to significant discounts on all ISM products and services by way of a user-friendly corporate gateway. As a whole, some of the benefits corporations will receive are discounts on the ISM-ADR School for Supply Management's Development Needs Analysis (DNA™), and unlimited free submissions to the prestigious ISM Awards for Excellence in Supply Management.
The new ISM Corporate Program provides a significant cost savings to organizations by empowering their supply management team with tools in professional development. The program isn't just tailored for corporate employees, though, but also focuses on the practical applications used by the company's corporate executives to analyze, project and prepare for the future with the most current business environment insights. Executives will also receive additional benefits, including exclusive invitations to the A.T. Kearney Center for Strategic Supply Leadership at ISM, and a brand-new publication that looks at future trends, written by executive peers, academicians and practitioners.
For information, contact Mary Lue Peck, vice president — ISM Corporate Development, at 800/888-6276 or +1 480/752-6276, or visit the ISM website for more information.
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When organizations look back at the past few years, many wish they had a crystal ball to help predict the coming crisis. Where were the signals? What did we miss that we should have known? These are valid questions in today's volatile environment, which is all the more reason to consider scenario planning as a complement to your yearly strategic planning process.
Scenario planning examines the external environment over a five-, 10- or even 20-year time frame to reveal the potential impacts on the organization and its supply network. However, for it to be relevant and actionable, scenario planning typically requires multistakeholder involvement. This ensures that actual decision-makers are committed to developing robust strategies to address those possible shifts or areas of change, as well as external involvement to make visible what can't be seen by the organization itself.
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|No-Cost Web Seminar on March 30: "Learn How to Effectively Leverage Business Intelligence Tools to Evaluate Supply Chain Risk"
Date: Wednesday, March 30, 2011
Time: 2 p.m. (EST) / 11 a.m. (PST)
Length: 50 minutes
Price: No cost
As a procurement professional, your job is more than sourcing suppliers; you're tasked with ensuring supply continuity — even evaluating the networks behind the supplier — to mitigate hidden risks. A business or individual that was squeaky clean when first vetted needs to be continuously monitored to reveal any adverse changes that can occur over time and pose negative ramifications for your company.
Attendees of this web seminar will learn the importance of:
- Researching and vetting potential suppliers to ensure you're not taking on financial, business legal or reputational risk;
- Staying up-to-date on key developments in the news with respect to your suppliers; and
- Recertifying supply risk profiles on a periodic basis.
Additionally, actual Reed Elsevier case studies will be offered to demonstrate how best practices were implemented. The results of these initiatives will also be shared.
Director of New Procurement Programs
Reed Elsevier Global Procurement
Attendance of the live session of this web seminar (50 mins.) qualifies for one CEH credit at ISM. Register on the ISM website.
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|21st Annual North American Research Symposium on Purchasing and Supply Chain Management: March 17-18 in San Diego
The North American Research Symposium on Purchasing and Supply Chain Management provides a unique forum for academicians and practitioners to share completed research, discuss future programs and instructional issues, motivate involvement, support collaboration and encourage increased interdisciplinary research in purchasing and supply management. The program includes addresses by senior business leaders, provocative panel discussions, presentations of competitively selected original research papers, sessions on instructional techniques and material, and scheduled time for discussion and collaboration. In addition, the program focuses on giving researchers the opportunity to exchange ideas on topics relevant to the fields of purchasing, supply management, logistics and materials management.
This innovative program focuses on research in the fields of supply chain management, purchasing, logistics, materials management, information technology and decision science.
Join your distinguished colleagues from academia, research and business for this dynamic program that explores current research findings, ongoing research, emerging trends, research methods and business research needs. Be prepared to discuss a mix of topics, processes, innovative pedagogy, instructional techniques and classroom materials.
The program also features an inventive mix of presenters, from business and academia, creating opportunities to explore the application of theoretical research to create business solutions.
Symposium highlights include the presentation of several research papers that were selected through a rigorous review process. Combining an organizational and academic view, this respected event covers content and delivery practices, gleaning the best from each platform.
Don't miss this unique opportunity to network with your colleagues within an atmosphere of constructive discussion and insightful exchange. And, earn 11.75 Continuing Education Hours (CEHs) for your attendance.
The 21st Annual North American Research Symposium on Purchasing and Supply Chain Management will be held at:
The Joan B. Kroc Institute for Peace & Justice
University of San Diego
5998 Alcalá Park
San Diego, CA 92110
Accommodations for the Conference will be at:
Courtyard San Diego Old Town
2435 Jefferson St.
San Diego, CA 92110
Complete conference information, agenda and registration is available online.
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In every edition, eSide Supply Management offers three sample questions — and answers — from the CPSM® Diagnostic Practice Exam to help you prepare to pursue your CPSM® certification. First, answer all three questions; then, scroll down to the "3 Answers" section to find out how you fared.
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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.
- Under "Log In," you will find a "Did you forget your username and password?" link. Click that link, and enter your e-mail address. (If you have more than one e-mail address, try each one.)
- If you do have an account, the ISM system will e-mail you your username and password.
- If, however, the system tells you the e-mail 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 Web site, followed by "Create New Account."
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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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|Term of the Day
Today's ISM Term of the Day is: WARRANTY.
Definition: A legally enforceable promise or representation as to quality or performance of goods or services made by a seller.
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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