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Wednesday, December 21, 2011
   


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In This Issue ...
  • This Month in Inside Supply Management® Magazine — Read more.
  • December 2011 ISM Manufacturing and Non-Manufacturing Report On Business® Semiannual Report Now Available Online — Read more.
  • Feature Article: It's Déjà Vu in 2012 — Read more.
  • ISM Services Group Names 16 Top Scholars — Read more.
  • Calendar of Events for January — 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 December 2011/January 2012 issue is full of useful information, including the following articles:

  • Best of Both Worlds
    Rail-truck intermodal shipping combines the best of each transportation mode, making global trade economical and efficient.

  • Out In Front: Investing in People
    Strong leaders embrace unlikely candidates, support a culture of change and look for ways to expose their teams to the entire value chain.

  • Integrated Reports on the Rise
    Combining environmental, social and governance performance with financial performance in one report creates a new level of transparency.

Access the complete December 2011/January 2012 issue of Inside Supply Management® online.

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December 2011 ISM Manufacturing and Non-Manufacturing Report On Business® Semiannual Report Now Available Online

Released earlier this month, the ISM Manufacturing and Non-Manufacturing Report On Business® Semiannual Report is now available online, including slides and a webcast presentation.

According to the report, economic growth in the United States will continue in 2012, according to the nation's purchasing and supply management executives. Expectations are for a continuation of the economic recovery that began in mid-2009, as indicated in the monthly ISM Report On Business®. The forecast projects optimism about the U.S. economy for 2012. The manufacturing sector, overall, is positive about prospects in 2012 with revenues expected to increase in 17 industries, while the non-manufacturing sector appears slightly less positive about the year ahead, with 15 industries expecting higher revenues. Capital expenditures — a major driver in the U.S. economy — however, will increase only modestly in the manufacturing sector, while investment in the non-manufacturing sector will remain essentially flat.

These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management™ (ISM). The forecast was released on December 6, 2011 by Bradley J. Holcomb, CPSM, CPSD, chair of the ISM Manufacturing Business Survey Committee; and by Anthony S. Nieves, C.P.M., CFPM, chair of the ISM Non-Manufacturing Business Survey Committee.

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Feature Article: It's Déjà Vu in 2012

In a near consensus, economists say the continued slowdown in the U.S. economy, coupled with the worsening financial crisis in Europe, mean the battered global economy will be limping into 2012 with little hope for a strong recovery in the new year. The U.S. economy grew weaker than expected in the second half of 2011 as unemployment and business growth numbers rattled what little confidence businesses and consumers had in a turnaround. A strong, stable global economy is years down the road, and many economists agree the trip will be long and bumpy.

Economists hoping for a gradual strengthening of the U.S. economy in 2011 were met with disappointment as the ongoing weakness continued throughout the year. As the fragility of the economy became evident — reflected in unemployment statistics, GDP growth and consumer confidence — they held out little hope for an uptick in 2012.

"I believe 2012 is going to feel like a repeat of 2011," says Kenneth Goldstein, an economist with The Conference Board in New York. "It will certainly feel that way at the start of the year and perhaps right through the year. That is because we are talking about an economy with no momentum." He adds that negative events, such as weather-related incidents or worsening conditions in Europe, could make 2012 even weaker, noting there is a 50-50 chance the U.S. economy will slip into a recession in the new year.

Read the full article on the eSide Supply Management website.

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ISM Services Group Names 16 Top Scholars

Students representing top supply management programs at five universities were honored today at the 12th Annual ISM Services Conference. The conference is hosted by Institute for Supply Management™'s (ISM) Services Group, which champions best practices associated with supply management practitioners who source services (such as temporary labor, consultants, building services, telecom and technology needs, etc.) or who work in one of the many services-related industries.

Sixteen students received 2011 ISM Services Group scholarships:

Arizona State University — Christopher Bellesia, Kaitlin Clark, Phillip Howard, Dakshitha Narawatne

Michigan State University — Janice Ebert, Blake Jendrusch, Monica Nawrocki

Rutgers University — Jonathan Frances, Valerie Koppell, Shin Lee

University of San Diego — Brittany Leeder, Kelly Shambaugh, Katie Stoner

Western Michigan University — Logan Iudiciani, Christopher Mulcahy, Matthew Smoker

Scholarship recipients receive US$1,000 plus sponsored registration and travel allowance to attend the ISM Service Conference taking place December 1-2, 2011 at the Pointe Hilton Tapatio Cliffs Resort in Phoenix.

ISM Services Group is one of several groups comprised of ISM members with common interests in education and networking in various topics. Members are either in services industries or are supply management professionals who buy services. The Services Group's University Relations efforts focus on four main areas: mentoring, internships, scholarships and on-site activities. Visit the ISM Services Group online.

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Calendar of Events for January

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Term of the Day

Today's ISM Term of the Day is: CENTRAL PROCESSING UNIT.

Definition: The CPU is the centerpiece of the computer system or, strictly speaking, the computer itself. It is composed of the control unit (which decodes program instructions and directs other components of the computer to perform the tasks specified in the program instructions), the arithmetic-logic unit (which does multiplication, division, subtraction, and addition, and compares the relative magnitude of two pieces of data), and the primary storage unit (which stores program instructions currently being executed and stores data while they are being processed by the CPU).

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

To receive Just in ETime:

  • First, log into the ISM website using your username and password.

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  • 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 website, followed by "Create New Account."

  • Once you've created your new account, proceed to the "Manage Newsletters" link, which is also found under the "My Account" tab.

  • Finally, select Just in ETime from the list of available newsletters and click the "Update Subscription" button at the bottom of the page.

If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.

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