|In This Issue ...
- May Manufacturing ISM Report On Business®: PMI at 53.5% — Read more.
- Feature Article: How (and Where) You Negotiate Matters — Read more.
- ISM Announces No Change in Report On Business® Distribution Process — Read more.
- June 13 Web Seminar: "Managing Risk in Meetings: How to Reduce Exposure and Increase Savings" — 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.
|May Manufacturing ISM Report On Business®: PMI at 53.5%
Economic activity in the manufacturing sector expanded in May for the 34th consecutive month, and the overall economy grew for the 36th 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 53.5 percent, a modest decrease of 1.3 percentage points from April's reading of 54.8 percent, indicating expansion in the manufacturing sector for the 34th consecutive month. The New Orders Index continued its growth trend for the 37th consecutive month, registering 60.1 percent in May. This represents an increase of 1.9 percentage points from April and also the highest level recorded by the index since April 2011. The Prices Index for raw materials fell to 47.5 percent in May, dropping 13.5 percentage points from April, indicating lower prices for the first time since December 2011. Comments from the panel generally reflect stable-to-strong orders, with sales showing steady improvement over the first five months of 2012."
To read the entire release, click here.
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|Feature Article: How (and Where) You Negotiate Matters
Today's procurement professionals often find themselves conducting negotiations in a variety of mediums. Some complex negotiations take place in the same room as the supplier's representation, in teams or as individuals. Others happen remotely, via telephone or email.
Each mode of negotiating has unique variables which procurement practitioners must consider; otherwise, they may hand over an advantage to a skilled opponent.
Read this eSide Supply Management article online.
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|ISM Announces No Change in Report On Business® Distribution Process
In May, Institute for Supply Management™ (ISM) announced that it is not planning to make any changes to the way the Report On Business® is currently disseminated. ISM will continue to release both the Manufacturing and Non-Manufacturing ISM Report On Business® via Business Wire at 10:00 a.m. ET on the first and third business days of each month, respectively.
In addition, data contained in ISM's monthly Manufacturing and Non-Manufacturing ISM Report On Business® will not be included in the series of advanced, "Flash" estimate reports recently announced by Markit Economics. "The manufacturing data contained in 'the Markit Flash U.S. Manufacturing PMI' is based solely on Markit's own survey responses, and is entirely separate from the responses ISM receives from its Manufacturing and Non-Manufacturing Business Survey Committee respondents throughout the U.S.," says ISM CEO Paul Novak, CPSM, C.P.M., A.P.P., MCIPS.
While ISM does partner with Markit Economics in the production of the JPMorgan Global Reports, Novak says it's important to note that the ISM data that are included in these monthly manufacturing and services reports are not provided to Markit in time for its new Flash release, and are never released prior to 10:00 a.m. ET. "The JPMorgan Global reports are released shortly after the ISM Manufacturing and Non-Manufacturing Report On Business," says Novak.
In addition to continuing its current distribution process and timing, ISM does not offer an embargoed release service. "Unlike a number of other organizations that disseminate similar economic reports under an embargo, we do not release our data early to any news services," says Novak, who indicated that ISM will continue to uphold this policy to maintain the integrity of its highly valued reports.
The ISM Report On Business® is considered by many economists to be the most reliable near-term economic barometer available. It is reviewed regularly by top government agencies and economic and business leaders for its timely, accurate information. The Manufacturing and Non-Manufacturing ISM Report On Business® are published monthly by the Institute for Supply Management™. Each month, both reports are compiled from responses to questions asked of purchasing and supply executives across the country and reflect change, if any, in the current month compared to previous months. Institute for Supply Management™ (ISM) is the first supply management institute in the world. Founded in 1915, ISM exists to lead and serve the supply management profession and is a highly influential and respected association in the global marketplace. By executing and extending its mission through education, research, standards of excellence and information dissemination — including the renowned monthly ISM Report On Business® — ISM maintains a strong global influence among individuals and organizations. ISM is a not-for-profit educational association that serves professionals with an interest in supply management who live and work in more than 80 countries. ISM offers the Certified Professional in Supply Management® (CPSM®), Certified in Supply Management™ (CSM™) and Certified Professional in Supplier Diversity® (CPSD™) qualifications, and is a member of the International Federation of Purchasing and Supply Management (IFPSM).
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|June 13 Web Seminar: "Managing Risk in Meetings: How to Reduce Exposure and Increase Savings"
Date: Wednesday, June 13, 2012
Time: 1 p.m.-2 p.m. (U.S. Eastern Time); 12 p.m.-1 p.m. (U.S. Central Time); 11 a.m.-12 p.m. (U.S. Mountain Time); 10 a.m.-11 a.m. (U.S. Pacific Time); 5 p.m.-6 p.m. (GMT)
Price: No cost
Registration: Available online.
For many organizations, meetings represent one of the largest categories of unmanaged, indirect spend. This Web seminar will discuss seven key areas of risk and how they show up in the meetings category; provide you with key questions to start the meetings management conversation in your organization; and explore how better managing your meetings can reduce your exposure and increase savings.
Participants will also hear examples of how clients have found value at every stage of meetings management.
- Identify risk in seven key categories
- Understand the potential consequences if risk isn't properly managed
- Learn what questions to ask within your organization to start managing risk exposure
- Gain best practices on how to start managing your meetings right now
President, Scholar Consulting Group
Author, SMM: The Strategy Quick Reference Guide
Co-author, Strategic Meetings Management Handbook
Scholar consults with organizations, associations, education facilities and suppliers on T&E, strategic meetings management, travel management, and virtual meetings. She created the meeting industry's first SMM Maturity Model©, and her blog, T&E Plus, has been viewed more than 28,000 times.
Scholar was selected as the one of the top 20 Changemakers in the Industry, one of the Business Travel News Practitioners of the Year and one of the VIPs in the Strategic Meetings Management Industry. She regularly contributes to HotelExecutive.com and Business Travel Executive.
Scholar edited the Travel Policy in the Business Travel Buyer's Handbook, a reference guide used globally by thousands of organizations. In addition to volunteering thousands of hours to co-chair the GBTA Groups & Meetings Committee, the GBTA Foundation and MCAF, Debi managed the PricewaterhouseCooper's SMM Program for more than 2,000 meetings and a budget of more than US$200 million; she was also first meeting director to have included virtual meetings under her direction in 2002. She went on to become the PwC Travel and Entertainment Consulting Lead and worked for the firm for 13 years.
Her designations include CMM, CMP, GLP, CTE, SSGB and CTT.
Vice President of Meetings, North America
Sherry leads the Strategic Account Management team for Maxvantage, as well as the operations team for the American Express middle market meetings solution, MEETINGS EXPERT.
She has 20+ years of senior leadership experience in the travel industry — 10 years in senior operations roles and 10 years leading account management teams for large-cap, global clients. She joined American Express in 2003, as part of the Rosenbluth International acquisition. She led the Business Travel Large Market Segment for four years, and then spent two years in Global Commercial Card as a Vice President within the Global Client Group.
Sherry joined the Maxvantage strategic alliance as Vice President of Operations at start-up, in September 2009. She assumed her current role two years ago. Her strategic account management team serves as client advocates, helping clients optimize their meetings programs, ensuring high-quality events, high-level savings, risk mitigation and transparency.
She holds a bachelor's degree in Business from Rosemont College in Philadelphia and recently earned her Strategic Meetings Management Certification from the Global Business Travel Association. She resides in Philadelphia.
Inside Supply Management®
Yuva is editor of Inside Supply Management®, the flagship publication of the Institute for Supply Management™ and the authoritative resource for supply management executives in companies of all sectors, shapes and sizes.
He has worked in the publishing industry for more than 15 years — both in newspapers and trade publications. He began his career at ISM in 1999 as a senior writer, and was recently promoted to the role of editor. John holds his degree in English from the University of Northern Iowa.
For more information, or to register, visit the ISM website.
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|Website of Interest
This month's Website of Interest is: ISM's 97th Annual International Supply Management Conference.
Visit the ISM website for highlights and educational materials from the ISM 97th Annual International Supply Management Conference, which took place May 6-9, 2012 in Baltimore, Maryland.
Members and non-members alike can access more than 50 presentation materials offerings on topics ranging from career management, to strategic sourcing, to risk management and much more.
Visitors can also access Conference-related press releases — and even a daily Conference blog with detailed educational session highlights and takeaways.
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|Term of the Day
Today's ISM Term of the Day is: COUNTERFEIT MERCHANDISE.
Definition: Items which are made to look like brand-name items, but which are actually made by others who have no legal right to copy the brand-name merchandise. Also called knock-offs.
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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