Wednesday, June 20, 2012
   


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In This Issue ...
  • This Month in Inside Supply Management® Magazine — Read more.
  • Institute for Supply Management™ (ISM) Selects New CEO — Read more.
  • Feature Article: Looking Beyond the Present — Read more.
  • ISM Announces No Change in Report On Business® Distribution Process — 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 2012 issue is full of useful information, including the following articles:

  • Accomplished Scholars
    The 2012 Richter scholars are destined to make significant contributions to supply management.

  • Moving Lateral to Move Up
    As supply management gains more influence within companies, it's crucial to develop a broad understanding of the organization to advance your career.

  • Benefits of Using MSPs
    Managed service providers can offer increased spend visibility and cost reduction when used wisely.

Access the complete June/July 2012 issue of Inside Supply Management® online.

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Institute for Supply Management™ (ISM) Selects New CEO

Institute for Supply Management™ (ISM) has completed the search for a new CEO and chosen Thomas W. Derry to lead the world's leading supply management association, effective July 30, 2012. Derry will succeed Paul Novak, CPSM, C.P.M., A.P.P., MCIPS as ISM CEO. Novak has served as ISM's top executive since 1997.

Derry is currently vice president and chief operating officer at the Association for Financial Professionals (AFP) in Bethesda, Maryland, a US$23 million association serving 17,000 corporate treasury and finance professionals in North America and more than 100,000 online registered readers worldwide. In his role with AFP, Derry is responsible for strategic planning and development, including U.S. and Canadian membership organizations and two wholly owned, for-profit U.K. subsidiaries. He has experience in all organizational functions, including advocacy, finance, human resources, sales, product development, publications, certification, education and training, conference production and marketing. Prior to joining AFP in 2003, Derry was with LexisNexis Group in Dayton, Ohio.

"Following a thorough and rigorous recruitment process, the search committee determined that Tom Derry is a top-notch choice," said ISM Board Member and ISM CEO Search Committee Chair Lisa Martin, C.P.M. "We interviewed a number of outstanding candidates and are excited to have found an individual who brings a wealth of experience in association management as well as someone who can define and execute a clear strategy and vision for ISM."

Early in 2011, current ISM CEO Novak announced his plans to retire, providing ample time for ISM's Board of Directors to conduct a comprehensive search for his successor. "The ISM Board greatly appreciates the excellent work Paul has achieved as CEO for the past 15 years," said ISM Board Chair Sidney Johnson, CPSM. "He has done a masterful job of broadening the association's focus and worldwide reach. While initially the search committee focused on executives from the purchasing and supply management field, we soon realized that a seasoned and successful association professional with exceptional marketing and strategic program development experience would ensure ISM's long-term growth and solid reputation."

Under Novak's leadership, ISM experienced a major change in governance, global expansion and the creation of new programs and services for supply management professionals. "It's been a privilege to lead ISM during a time of profound and constant change — both for the profession and the association," said Novak. "I'm confident we've found the right leader for ISM's next chapter and believe Tom brings proven talent and skills to lead the organization's dynamic future on a global scale."

"It is an honor to be selected for this critical role at ISM, an organization which truly has demonstrated thought-leadership for the profession over its illustrious history," said Derry. "From its closely watched monthly Manufacturing and Non-Manufacturing ISM Report On Business®, sponsorship of leading applied research, pioneering promotion of professional ethical standards, and leadership in promoting diversity in supply management, corporate social responsibility and environmental sustainability, ISM has truly established the developing frontier for the global profession. I look forward to working with ISM's outstanding board of directors, its volunteers and members, and a talented staff in continuing to build worldwide appreciation of the strategic role the profession plays in our increasingly interconnected global economy."

Requests for information or interviews should be directed to Jean McHale, ISM Public Relations.

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Feature Article: Looking Beyond the Present

Last month, Baltimore served as a fitting location for Institute for Supply Management™'s J. Shipman Gold Medal Award presentation. Joseph L. Cavinato, Ph.D., C.P.M., accepted the highest honor conferred by ISM at a recognition lunch held on May 8, 2012, in conjunction with ISM's 97th Annual International Supply Management Conference and Educational Exhibit. It was a pleasant coincidence for Cavinato to accept his Shipman Medal at the Baltimore Convention Center. He was just a few city blocks away from the site of one of his first jobs when he embarked on his career years ago.

Cavinato is the founding executive director of the A.T. Kearney Center for Strategic Supply Leadership (CSSL) at ISM. He is currently ISM Professor of Supply Chain Management at Thunderbird School of Global Management in Glendale, Arizona, where he heads Thunderbird's global supply chain leadership course of study. Instructing and enlightening others have always been hallmarks of his career. "Even when I was in high school, I had a couple of teachers who really had an impact on me, so I knew I always wanted to teach," Cavinato says. He attended American University in Washington, D.C., where he earned both a bachelor's and a master's degree in business administration. He also made up his mind that he didn't want to teach unless he first amassed a healthy amount of industry experience. "I felt I would not be legitimate unless I had actually done it," he says.

Read the full article on the Inside Supply Management® website.

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ISM Announces No Change in Report On Business® Distribution Process

Institute for Supply Management™ (ISM) has 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 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 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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Calendar of Events for July

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Term of the Day

Today's ISM Term of the Day is: AUTOREGRESSIVE MOVING AVERAGE (ARMA).

Definition: A forecasting tool comprised of autoregressive and moving average components used for understanding and predicting future values in time series data; also called Box-Jenkins Model.

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.

  • 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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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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