Monday, March 5, 2012
   


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In This Issue ...
  • February Non-Manufacturing ISM Report On Business®: NMI at 57.3% — Read more.
  • Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
  • Feature Article: Taming Commodity Volatility — Read more.
  • Future Supply Management Leaders Compete For Scholarships — 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 57.3%

Economic activity in the non-manufacturing sector grew in February for the 26th 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 57.3 percent in February, 0.5 percentage point higher than the 56.8 percent registered in January, and indicating continued growth at a faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index registered 62.6 percent, which is 3.1 percentage points higher than the 59.5 percent reported in January, reflecting growth for the 31st consecutive month. The New Orders Index increased by 1.8 percentage points to 61.2 percent, and the Employment Index decreased by 1.7 percentage points to 55.7 percent, indicating continued growth in employment, but at a slower rate. The Prices Index increased 4.9 percentage points to 68.4 percent, indicating prices increased at a faster rate in February when compared to January. According to the NMI, 14 non-manufacturing industries reported growth in February. The majority of comments from the respondents reflect a growing level of optimism about business conditions and the overall economy. There is a concern about inflation, rising fuel prices and petroleum based product costs."

To read the entire release, click here.

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Latest JPMorgan Global PMI: Global Report on Manufacturing

Manufacturing Growth Continues Despite Rising Cost Pressures

The JPMorgan Global Manufacturing PMI™ broadly held its ground at 51.1 in February, little-changed from 51.4 in January, to signal an improvement in operating conditions for the third straight month. Levels of output, new orders and employment all moved higher.

Manufacturing production increased for the third consecutive month in February. The rate of growth accelerated to its highest since June 2011, but was still modest in comparison to the surge seen in the opening quarter of last year.

For the complete JPMorgan release, click here.

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Feature Article: Taming Commodity Volatility

The unsettled economic climate of the past several years has led to dramatic swings in commodity prices. In the final months of 2011, for example, both crude oil and copper prices experienced very rapid spikes, followed by equally dramatic falls. These dramatic swings in commodity prices are creating significant challenges for supply management professionals as volatile prices work their way through the supply chain.

The ever-changing commodities landscape requires careful consideration, negotiation and drafting of price adjustment clauses in supply agreements. Effective price adjustment provisions can be critical factors in a company's efforts to achieve a competitive advantage or, at a minimum, to avoid a competitive disadvantage, in their businesses.

Read this Inside Supply Management® article on the ISM website.

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Future Supply Management Leaders Compete For Scholarships

Supply management students representing three universities demonstrated their analytical and reasoning skills in a case competition that took place February 9, 2012 during the Institute for Supply Management™ (ISM) 9th Annual Black Executive Supply Management Summit. Student teams from Clark Atlanta University, Howard University and Tennessee State University presented case studies in a professional setting before a panel of judges representing top supply management practitioners. Students also heard from senior executives on how to establish themselves in the supply management profession. Results of the 2012 case competition are:

1st Place/US$5,000 scholarship award
Clark Atlanta University
Team adviser: Marcia Daley, Ph.D., CPSM
Team members: Audric Adger, Jamael Harris, Prescella L. Monger, Abdi Sugal, Stephen Tolbert

2nd Place/US$2,000 scholarship award
Howard University
Team adviser: Dr. Angela Tidwell
Team members: Tarik Everett, Kari Guy, Grayson Mitchell, Ernesto Sanchez, Darryl Stephens

3rd Place/US$1,500 scholarship award
Tennessee State University
Team adviser: C.X. Fan, Ph.D.
Team members: Chika Chimezie, Jasmine Hudson, Sai Priya Sista, Sheldon Welch, Lance Woods

Global management consultancy A.T. Kearney provided the case study, and the 2012 judging panel included: Gerry Bundle, CPSM, managing member, Standhope Advisory Services; Anthony Humphrey, director, global strategic outsourcing, MeadWestvaco; Tiffany Hickerson, sourcing manager, A.T. Kearney; and Darryl Watkins, senior sourcing manager, A.T. Kearney.

The Black Executive Supply Management Summit financially supports student attendance at ISM's Annual Supply Management Conference by underwriting expenses.

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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 email address. (If you have more than one email address, try each one.)

  • If you do have an account, the ISM system will email you your username and password.

  • If, however, the system tells you the email 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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Term of the Day

Today's ISM Term of the Day is: THIRD-PARTY LOGISTICS.

Definition: A supplier of logistics services that is not part of either the purchaser's or supplier's organizations.

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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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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