|In This Issue ...
- August Manufacturing ISM Report On Business®: PMI at 50.6% — Read more.
- Feature Article: Make Mentoring a Priority — Read more.
- No-Cost Web Seminar: "Analyzing Global Manufacturing Trends and Their Effect on Commodity Markets and Risk Management" — Read more.
- ISM Partners With American Public University — 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.
|August Manufacturing ISM Report On Business®: PMI at 50.6%
Economic activity in the manufacturing sector expanded in August for the 25th consecutive month, and the overall economy grew for the 27th 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 50.6 percent, a decrease of 0.3 percentage point from July, indicating expansion in the manufacturing sector for the 25th consecutive month, at a slightly slower rate. The Production Index registered 48.6 percent, indicating contraction for the first time since May of 2009, when it registered 45 percent. The New Orders and Backlog of Orders Indexes edged up slightly from July, but both indexes are indicating contraction in August at slower rates than in July. The rate of increase in prices slowed for the fourth consecutive month, dropping another 3.5 percentage points in August to 55.5 percent. The overall sentiment is one of concern and caution over the domestic and international economic environment, which is affecting customers' confidence and willingness to place orders, at least in the short term."
To read the entire release, click here.
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|Feature Article: Make Mentoring a Priority
As time pressures continue to mount and the challenge of balancing a range of business demands becomes increasingly strenuous, the responsibility to develop people and teams becomes even more of an imperative for leaders within organizations. Some might consider this to be counterintuitive; if mentoring is going to be done properly, it will take extensive amounts of time and energy. Where does that time allocation occur in the line of priorities for your own professional demands, family obligations, travel requirements and other time constraints?
This August 2011 Inside Supply Management® article by Quentin Roach, senior vice president and CPO for Bristol-Myers Squibb in New York, explains why mentoring should remain a high priority for all those in a position to do so. He contends that not only can mentoring be personally rewarding, but countless studies, surveys and experiences also show that it has a significant and direct impact on personnel development, retention and performance.
Likewise, mentoring has proven to be a highly effective way to ensure succession planning.
Read this article online.
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|No-Cost Web Seminar: "Analyzing Global Manufacturing Trends and Their Effect on Commodity Markets and Risk Management"
Date: Thursday, September 15, 2011
Time: 11 a.m. PST/2 p.m. EST
Price: No cost
Length: 60 minutes
Monitoring the global economic landscape — and understanding how demand can affect the commodity hedging decisions made by your industry and company — are both vital to a successful procurement operation.
Join Bloomberg for a top-down examination of how today's manufacturing climate is driving commodity prices and forcing supply chain and procurement officers to think differently. This web seminar will explore the factors driving manufacturing growth in the global landscape, how these pressures are related to the volatility across the commodity sectors, and in turn how these affect your hedging decisions.
Finally, Bloomberg's head of automotive sector research will examine how the auto industry is reacting to and driving demand for raw materials.
- The key drivers of U.S. growth and manufacturing, and what they mean
- How near-term commodity market movement reflects current manufacturing conditions
- Current trends in risk management and hedging strategies
- How macroeconomic forces are playing out in the auto sector, plus how that might affect other industries.
- Joseph Brusuelas
- Todd Sibilla
Commodity Application Specialist
- Kevin Tynan
Head of Automotive Sector Research
- Terri Tracey, CAE
Technology and Publications
Institute for Supply Management™
Attendance of the live session (minimum of 50 minutes) of this web seminar qualifies for one CEH credit at ISM. Registration is available online.
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|ISM Partners With American Public University
In late August, Institute for Supply Management™ (ISM) announced it has formed a cooperative relationship with American Public University (APU), a nationally- and regionally-accredited provider of quality online degree programs. Under the terms of the agreement, APU will promote ISM's professional certifications, and ISM will promote APU degree programs. ISM certification holders may also be eligible to receive academic credits towards undergraduate and graduate programs at APU.
According to ISM CEO Paul Novak, CPSM, C.P.M., A.P.P., MCIPS, joining forces on promotional efforts is a win-win for each organization. "It makes sense to leverage our mutual interests to help develop well educated employees and students," Novak says. "We expect many APU students and graduates will find ISM educational products relevant and valuable. Similarly, there are sure to be ISM members and customers who find APU's distance learning opportunities a perfect fit for their career path."
ISM offers the Certified Professional in Supply Management® (CPSM®) and Certified Professional in Supplier Diversity® (CPSD™) credentials. The CPSM® gives supply management professionals a career edge as well as demonstrates a level of knowledge needed to positively impact their organization's supply operation. For more information on the CPSM® designation and how it can benefit you and your employer, contact ISM Professional Credentials.
APU, part of American Public University System, offers academic degrees and certificates in areas including transportation and logistics management, reverse logistics, management, hospitality management, international relations and homeland security, among many others.
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|Website of Interest
This month's Website of Interest is The Stanford Global Supply Chain Management Forum:
The Stanford Global Supply Chain Management Forum (the Forum) partners with a select group of industry leaders to advance the state of the art in global supply chain management. Working with leading thinkers from approximately 20 global companies, the Forum is actively engaged in identifying, researching, developing, and disseminating best practices in supply chain strategy and execution within the context of a dynamic and increasingly global business environment.
The Forum's website offers a wealth of resources — student field studies, global supply chain strategies, logistics optimization and social and environmental responsibility.
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: PERFECTION.
Definition: Process required to ensure enforceability of a security interest; typically involves public filing of a financing statement. UCC §9-301 et seq.
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
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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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