|In This Issue ...
- This Month in Inside Supply Management® Magazine — Read more.
- Feature Article: Transportation's "New Normal" — Read more.
- Highest Honor in Supply Management Presented to Tyco International Exec — Read more.
- No-Cost Webinar Next Week: "A Case for Global Strategic Meetings Management" — Read more.
- ISM Announces Retirement of Manufacturing Business Survey Committee Chair — Read more.
- Results of the ISM 2011 Salary Survey Are Now Available — Read more.
- Calendar of Events for July — 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.
|This Month in Inside Supply Management® Magazine
Have you checked out the latest issue of Inside Supply Management magazine? The June/July 2011 issue is full of useful information, including the following articles:
- A Career of Progressive Approaches and Leadership
"In supply management, you don't work alone." This is the present-day truth and future vision for Shelley Stewart, Jr., CPSM, and J. Shipman Gold Medal Award recipient. Institute for Supply Management™ (ISM) presents the J. Shipman Gold Medal Award annually to an individual who displays modest, unselfish, sincere and persistent efforts for the advancement of purchasing and supply management. As the 81st recipient of the Shipman Medal, Stewart joined an elite group of supply management luminaries when he accepted the award in May in Orlando, Florida.
- Ahead of the Curve
Ten students, representing seven leading universities, are recipients of 2011 R. Gene Richter Scholarships. Winners receive tuition assistance of up to US$5,000 and the benefits of an executive mentorship, which pairs the student with an established executive mentor and a junior mentor who is a former Richter scholar. Winners were recognized on May 15, 2011 at an awards dinner held during Institute for Supply Management™'s 96th Annual International Supply Management Conference and Educational Exhibit in Orlando, Florida. The 2011 Richter Scholars are:
- Reaching for New Ideas
Innovation sparks growth and change in today's competitive business environment. It is hard to imagine an organization that is not continually trying to improve and update its products or services to stay ahead of the curve. As companies outsource and offshore their manufacturing processes and services, it is only natural to expect them to also reach out to their suppliers for innovation. While concerns exist, outsourcing innovation is becoming more common because innovation is key to revenue generation. The issue for supply management professionals then becomes how to effectively establish, manage and monitor innovation outsourcing.
Access the complete June/July 2011 issue of Inside Supply Management® online.
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|Feature Article: Transportation's "New Normal"
A recent A.T. Kearney report drills down on the "new normal" transportation companies are now facing, following the past few years' economic turmoil — a shift that is requiring them to rethink their fundamental business models and investment priorities, as well as reevaluate their capacity for change.
"Rather than making tactical moves, it's time to look past the next quarter or two and develop a smart, forward-looking strategic response," recommend report authors Laurent Guerard and Jeff Ward, partners in the A.T. Kearney's Chicago-based transportation, travel and infrastructure practice; and Martin Walker, senior director of A.T. Kearney's Global Business Policy Council in Washington.
In their report, The "New Normal" in the Transportation Industry, Guerard, Ward and Walker assert that four forces are most aggressively shaping the transportation marketplace right now.
Read the full article on the eSide Supply Management website.
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|Highest Honor in Supply Management Presented to Tyco International Exec
On May 17, 2011, Shelley Stewart, Jr., CPSM, accepted his profession's highest honor at the Institute for Supply Management™'s (ISM) 96th Annual International Supply Management Conference and Educational Exhibit. Stewart accepted the J. Shipman Gold Medal Award in Orlando, in recognition of modest, unselfish, sincere and persistent efforts for the advancement of supply management.
Stewart is senior vice president, operational excellence and CPO at Tyco International in Princeton, New Jersey. He leads Tyco's Lean Six Sigma, information technology, trade compliance, real estate and supply chain initiatives across the company. Stewart joined Tyco in 2003 as head of the supply chain function.
Prior to joining Tyco, Stewart held executive-level supply management positions at Invensys, plc, a global technology and controls company headquartered in London, and Raytheon Company. He spent 18 years at United Technologies in senior-level supply chain and operational positions. Stewart was an early adopter of online sourcing techniques by embracing a new start-up company and piloting innovative software programs to improve supplier negotiation and spend analysis.
Stewart has maintained membership at the ISM affiliate level for more than 22 years and has been a member of ISM—New Jersey, Inc. since 2004. Beginning in 2005, Stewart served on the ISM Board of Directors for seven years, including a two-year term as Board Chair from 2009 to 2011. A capstone of Stewart's board leadership experience was shepherding ISM's new supplier diversity qualification to fruition. He is a strong proponent of supplier development programs and supplier diversity initiatives because of their importance to building a good procurement strategy. He is vice chair of the National Minority Supplier Development Council (NMSDC) Board of Directors. Tyco has corporate memberships at the local and regional level for more than 12 NMSDC-affiliated organizations.
Stewart devotes extensive time and energy to developing the next generation of supply management professionals. As a founding member and chair of Howard University's Supply Chain Management Advisory Board, he was instrumental in launching the supply chain management program, and tries to make sure that each student enrolled in the program has a meaningful internship experience. He is the current chair of the Howard University School of Business Board of Directors.
The J. Shipman Gold Medal Award was created by the Purchasing Management Association of New York in 1931 to honor Johnson Shipman, a pioneer in the profession.
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|No-Cost Webinar Next Week: "A Case for Global Strategic Meetings Management"
Date: Wednesday, June 22, 2011
Time: 1 p.m. (EDT) / 10 a.m. (PDT)
Price: No cost
Length: 60 minutes
Format: Streaming only
For many organizations, meetings represents one of the largest categories of unmanaged spend. This category is even larger in global organizations, representing significant opportunity for cost savings and risk mitigation.
With industry and governmental regulations increasing across the globe, there is renewed focus throughout organizations to ensure policies and procedures are in place to provide transparency and control investments in meetings, events and incentives. Many organizations manage meetings in one region, but have a need to take their programs global. What does it take to put a program in place? What are the signs of market readiness? What are the keys to successful implementation and adoption?
Join us for an interactive conversation with three experts in the field — Kurt Hoffmann, director of strategic meetings management (SMM) and travel & events performance management at Accenture; Kimberly Frehe, global business systems specialist at Accenture; and Meredith Jursnick, strategic account director for Maxvantage — as they share their experiences and best practices in rolling out SMM on a global scale.
Attendees will learn:
- Key elements and goals of strategic meetings management programs and why they are important
- Best practices for global program implementation and adoption
- Signs of organizational readiness for global SMM
- Internal and external drivers of meetings management.
- Kurt Hoffman
Director of SMM and Travel & Events Performance Management
- Kim Frehe
Global Travel Systems Specialist
- Meredith Jursnick, CMP
Strategic Account Director
Attendance of the live session of this web seminar qualifies for one CEH credit at ISM. Register on the ISM website.
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|ISM Announces Retirement of Manufacturing Business Survey Committee Chair
After more than 15 years of service, Norbert J. Ore, CPSM, C.P.M., retires as Institute for Supply Management™ (ISM) Manufacturing Business Survey Committee chair. Ore's replacement, Bradley J. Holcomb, CPSM, CPSD, will assume responsibility of the Manufacturing ISM Report On Business® effective June 1, 2011.
Ore is a supply chain consultant and recognized supply management leader known for global strategy and technology implementation in Fortune 500 companies including Georgia-Pacific, Chesapeake Corporation and Sonoco Products Company. As spokesperson for the Manufacturing ISM Report On Business®, he was frequently quoted in The Wall Street Journal, and provided expert commentary for major financial and news outlets including Bloomberg News, CNBC, CNNMoney, Public Broadcasting Service (PBS) Nightly Business Report, and National Public Radio (NPR).
Holcomb, in his new role, will write the monthly Manufacturing ISM Report On Business® based on the survey results of approximately 350 supply management professionals. Holcomb is senior vice president and CPO for Dean Foods, headquartered in Dallas. Since joining Dean Foods in 2006, Holcomb has transformed and broadened the role of procurement and reduced costs to fund innovation and growth. Holcomb has also held executive-level procurement and supply management positions at Royal Group Technologies, Waste Management Inc., American Precision Industries and Praxair Inc. His early career was with Eastman Kodak Company in Rochester, New York, where he held a broad range of management positions over a 20-year period and led the effort to globalize procurement by developing and implementing worldwide processes and best practices.
Visit ISM online for additional information on the ISM Report On Business®.
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|Results of the ISM 2011 Salary Survey Are Now Available
The Institute for Supply Management™ (ISM) surveyed supply management professionals during January and February 2011 to determine average salaries in the supply management profession. This report presents the results of that survey based upon salaries earned during the 2010 calendar year. The full report is available online to members of ISM.
The full report provides breakdowns of salary by:
- Job title
- Years of experience
- Education level
- Certification status
- Buying responsibility
- State of residency
- Other factors.
Demographic information on the respondents is also reported.
Non-members who would like to view the entire report can join ISM or can purchase the detailed report for $199.
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|Calendar of Events for July
Release of the Manufacturing Report On Business®
ISM Headquarters Closed — Independence Day
Release of the Non-Manufacturing Report On Business®
Achieving Peak Performance When Purchasing Services
ISM Finance Committee Meeting
New York, NY
DCAT/ISM Sourcing Summit 2011 — Innovative Sourcing
Capital Equipment Purchasing: Big Risk, Big Dollars, and Big Results
Contracting Basics: What All the Ts and Cs Mean
Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism
Advanced Negotiation Strategies: Advanced Concepts and Techniques for Optimizing Value through Negotiations
Best Practices in Procurement
Legal Aspects of Supply Management: The Basics You Need to Succeed
Integrating Purchasing, Logistics and Inventory with Suppliers
Contracting for Purchasing and Supply Management: Beyond the Basics
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|Term of the Day
Today's ISM Term of the Day is: DELIVERED DUTY UNPAID.
Definition: Incoterm under which seller bears the risk and expense of getting the goods to a named destination, but excluding duties, taxes and other official charges payable on import. Some variations on DDU are possible if the seller is to pay some of the import charges. Delivery takes place when the exporter places goods at the disposal of the importer in city of delivery. There is no corresponding transportation document, although a bill of lading is usually used. Used for any mode of transportation. Same as Delivered Ex Quay (DEQ), except that the buyer and seller can specify delivery of the goods to a warehouse or other destination point. Seller must arrange for ground transport in the buyer's country. Buyer bears responsibility for import customs duties.
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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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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