- May Non-Manufacturing ISM Report On Business®: Business Activity at 58.5%. Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing. Read more.
- Major Keystones to Successful Supply Management. Read more.
- ISM Professional Seminar Update — July Topics. Read more.
- Principles and Standards of Ethical Supply Management Conduct. Read more.
- Term of the Day. Read more.
- Contact Us. Read more.
|May Non-Manufacturing ISM Report On Business®: Business Activity at 58.5%
Business activity in the non-manufacturing sector increased in May 2005, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The report was issued today by Ralph G. Kauffman, Ph.D., C.P.M., chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee and coordinator of the Supply Chain Management Program, University of Houston-Downtown. "Non-manufacturing business activity increased for the 26th consecutive month in May," Kauffman said. He added, "Business activity increased at a slower rate in May than in April. However, the faster rates of increase for New Orders and Backlog of Orders in May indicate that business activity in non-manufacturing industries should continue at relatively healthy levels in the near-term future. The Prices Index declined in May compared to April, indicating that recent increases in energy and steel prices are being at least somewhat assimilated by various industries; this reflects the lack of continuing price increases in recent months for these basic commodities."
To read the entire report click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Upturn in Global Manufacturing Operating Conditions Lost Further Momentum in May, as Growth in Output and New Orders Continued to Ease.
Growth of the global manufacturing economy lost further momentum in May. The rate of improvement in overall operating conditions eased to only a slight pace and was the least marked since July 2003 — when the current upturn began. This was highlighted by the Global Manufacturing PMI — a composite index produced by JPMorgan and NTC in association with ISM and IFPSM — registering 51.1, down from 51.9 in April. The latest fall in the PMI was the result of slower growth in output and new orders, which led to a decline in employment.
To read the entire release click here.
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|Major Keystones to Successful Supply Management
Supply Chain = Value Chain: Driving Results, a one-day program sponsored by ISM Materials Management Group and ISM Logistics & Transportation Group, July 28, 2005, Rio All-Suite Hotel and Casino, Las Vegas, NV.
- New Strategies for Transportation Management
- Warehouse Operations and Inventory Management: A Supply Management Interface
- Supply Chain and the Balance Sheet
- Speed and Cash … What's Your Role?
Materials management, logistics, transportation and finance are major keystones to successful supply management. Make sure all areas are working in tandem and gain a holistic view of the supply chain. This one-day educational experience is packed with strategies, processes and trends to help you and your organization thrive. $495 ISM Members/$695 Nonmember.
For more information or to register online click here.
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|ISM Professional Seminar Update — July Topics
Striving for perfection in your supply chain? Get it!
Register today for one of ISM's professional seminars and discover how easy it is to achieve perfection in your supply chain. From fundamental tools to proven strategies, make a dynamic impact within your organization when you attend any of these upcoming sessions in July:
- Leading and Managing Supply Relationships (#4260)
July 11-12, 2005
- Capital Equipment Purchasing: Big Risk, Big Dollars, Big Results (#4261)
July 14-15, 2005
- Legal Considerations of Software Licenses and Other Technology-Related Agreements (#4262)
July 19-20, 2005
- Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism (#4264)
July 20-22, 2005
- Performance-Based Statements of Work (SOW): Maximize Supplier Performance (#4265)
July 25-26, 2005
- Effective Strategies: Building Purchasing Value for Your Organization (#4266)
July 27-29, 2005
Earn Continuing Education Hours and save $200 per person when you register 30 days or more in advance of the program start date. Save even more when you register online at www.ism.ws. To speak to a Customer Service Associate, call 800/888-6276 or 480/752-6276, extension 401.
To learn more about ISM's professional seminars or to search other great topics, dates and locations click here.
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|Principles and Standards of Ethical Supply Management Conduct
A distinguishing characteristic of a profession is that its practitioners combine ethical standards with the performance of technical skills. In fact, "professional" is described in Webster's New Collegiate Dictionary as "characterized by or conforming to the technical or ethical standards of a profession." Webster's goes on to define "ethic" as "a theory or system of moral values, the principles of conduct governing an individual or group." In order to achieve stature as a profession, those in supply management must establish and subscribe to a set of ethical standards to guide individual and group decisions and actions.
ISM's Principles and Standards of Ethical Supply Management Conduct were established to encourage adherence to an uncompromising level of integrity. They are designed to heighten awareness and acceptance of appropriate conduct and to emphasize the role of ethics in the decision-making process. They are not intended to supplant an organization's policies pertaining to ethical practice. These principles and standards are intended to be a model for consideration. Further, they are recommended as guidelines to all those who influence the supply management process, including supply management professionals, engineers, quality control personnel, sales representatives and senior management.
ISM's Principles and Standards of Ethical Supply Management Conduct have recently been updated. For the updated list of Principles and Standards and the accompanying guidelines click here.
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|Term of the Day
Today's ISM Term of the Day is: SOURCING.
Definition: The process of identifying sources that could provide needed products or services for the acquiring organization.
A different Term of the Day is posted on the ISM Home Page (www.ism.ws) each day -- 7 days a week. The Term of the Day is taken from the Glossary of Key Supply Management Terms.
ISM members can access the online Members Only Glossary of Key Supply Management Terms 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.
To access the Glossary click here.
If you are not a member but would like membership information click here.
Help us update this Glossary! If you don't find the term or definition that you are looking for let us know. We will be updating the ISM Glossary in the coming months, and your input will be useful for the new edition. To contact us regarding the Glossary, e-mail: firstname.lastname@example.org
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