Wednesday, October 19, 2005

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In This Issue...
  • This Month in Inside Supply Management® Magazine.  Read more.
  • New Supply Management Qualifications FAQs.  Read more.
  • The Future of Purchasing and Supply Chain.  Read more.
  • Why Certify?  Read more.
  • Gain Control of Your Contracts and Uncover Cost Saving Opportunities.  Read more.
  • Term of the Day.  Read more.
  • The Business Side of Supply Management - Influencing Senior Management.  Read more.
  • Calendar of Events for November.  Read more.
  • Contact Us.  Read more.

This Month in Inside Supply Management® Magazine

October's issue of Inside Supply Management® magazine is another special "Executive Edition." For the second time this year, the entire issue of the magazine is specifically designed and created with the forward-thinking supply manager in mind.

In its mission to lead supply management, ISM is eager to share with you experiences and commentaries from leaders in the field. From the sources used to the topics covered, we're excited to bring you a magazine that gets you into the minds of these influential people.

Speaking of influence, that's what you'll read about in the cover story. Influence is critical in your daily work and for long-term success. Whether it's pushing forward to build a staff of quality individuals or effecting change for your supply management organization within the larger enterprise, the ability to powerfully turn ideas into reality — and having others be excited about them too — is priceless. You'll hear how some top supply executives have harnessed this tool.

A few other items to look forward to:

  • One of our most popular articles in last April's Executive Edition was a roundtable discussion among some leading pros. We've gathered another group (on the page at least) and invite you to hear their insights about the field's newest demands.
  • Get the latest from both CSSL: Center for Strategic Supply Leadership and CAPS: Center for Strategic Supply Research.
  • ISM Manufacturing Business Survey Committee Chair, Norbert J. Ore, C.P.M., gives us some perspective on the highly respected ISM Report On Business®.

After you've had a chance to digest the Executive Edition, let us know what you think. We want to make the magazine valuable to you, so you can be valuable to your business.

To access the October issue of Inside Supply Management® click here.

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New Supply Management Qualifications FAQs

ISM's Board of Directors recently approved the recommendation by the ISM Certification Committee that ISM develop a new professional qualification that recognizes those expanded competencies.

To help answer some of your questions, ISM has created a list of 24 of the more frequently asked questions (FAQs) so far and the correlating answers. Here's just a few of the questions included in that list:

  • Why do we need to develop a new qualification?
  • What will happen to the C.P.M.?
  • What is the name of the new qualification?
  • When will the new qualification be available?
  • Have any criteria for the new qualification been determined?

To view the list of FAQs and their answers, click here.

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The Future of Purchasing and
Supply Chain

Making a strategic contribution
A half-day forum hosted by Economist Conferences and supported by ISM
November 10th 2005 at The Metropolitan Club, Chicago

Join Tony Milikin, member of the Board of Directors, Institute for Supply Management™ and Senior Vice President - Global Supply Chain, MeadWestvaco Corporation at this invitation-only event for senior executives. Thought leaders from H.J. Heinz Company, PepsiCo, RadioShack, and more will attend.

To view the agenda and request a *complimentary* invitation click here.

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Why Certify?

Why Certify? The Benefits of Certification for You:
Supply management professionals interested in self-fulfillment, skills improvement, creating opportunities for promotion, recognition, and more earning potential can benefit greatly from certification. By working toward a Certified Purchasing Manager (C.P.M.) designation, you will be exposed to a wide variety of subject matter. By mastering it, your knowledge will be systematically improved, as will your ability to deal with new problems and situations on the job.

A C.P.M. proves you have the skills and abilities to solve problems effectively, to use knowledge competently, to work productively, and to be seriously considered for promotions. Perhaps most important of all, proving you have what it takes to become a C.P.M. can increase your self-esteem. And what better negotiating and management tool can you have than heightened self-confidence?

World-Wide recognition of the C.P.M. continues to be strong and is growing. This is evidenced by the fact that within the last decade, growth of the C.P.M. internationally has actually outpaced that of certifications within the United States. ISM has certified over 45,000 individuals around the world and will continue to do so. We stand behind the continued value and demand for C.P.M.s World-Wide.

In addition, ISM is currently in the process of developing a new supply management qualification, which raises the bar on supply management's capabilities. C.P.M.s who meet the minimum requirements for the new qualification will be encouraged to engage in continuing education and bridge to the new qualification. This process, though still in development, will be extremely advantageous to professionals who have earned their C.P.M. With increased professional and educational standards, the new qualification will prepare supply managers to meet the current and future demands of the profession.

Why Certify? The Benefits of Certification for Your Organization
An organization supporting the C.P.M. program underscores its commitment to professionalism. Certification can reduce future training costs, and the program content exposes employees to broad-based knowledge specification, which in turn helps them open up their thinking and problem-solving skills.

Those earning the C.P.M. tell us they are more effective at what they do and gain a heightened sense of professionalism, self-worth, and confidence — all important attributes in today's competitive and aggressive business environment.

Attention to ethics, professional responsibility, and lifelong learning are outcomes of the C.P.M. program. Lifelong learning is encouraged through the program to ensure candidates reflect the latest in supply management.

As a leader, you are in a position to ask people in your organization to take advantage of the C.P.M. program. Encourage your employees to seek certification — ask them to take a look at the C.P.M. program.

For more information about the benefits of Certification click here.

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Gain Control of Your Contracts and Uncover Cost Saving Opportunities

ISM and Nextance Present the Complimentary Web Seminar: Gain Control of Your Contracts and Uncover Cost Saving Opportunities

Date: November 10, 2005
Time: 11 a.m. Pacific, 2 p.m. Eastern
Presenter: Jason Rushin, Nextance Marketing, and Roberta Duffy, Editor, Inside Supply Management®, (ISM)
Price: Complimentary

If you're considering an initiative designed to lower procurement costs, the best place to start is by gaining control over your existing contracts. Learn how Contract Performance Management (CPM) solutions uncover significant cost savings that are already captured in your post-signature contracts. Discover also how implementing a CPM solution first will improve the results of other procurement initiatives to follow.

Note: This program is one hour in length and qualifies for one CEH at ISM.

For full information and to register now for this free special event click here.

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Term of the Day

Today's ISM Term of the Day is: CARRYING COST.

Definition: The cost of keeping inventory on hand, including the opportunity cost of invested funds; storage and handling costs; taxes, insurance, shrinkage, and obsolescence-risk costs. Organizations usually state an item's holding cost per time period as a percentage of the item's value.

A different Term of the Day is posted on the ISM Home Page ( 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.

Not currently an ISM 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:

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The Business Side of Supply Management — Influencing Senior Management

Designed to influence senior management, learn selling strategies and communication techniques to help you sell ideas and initiatives within your organization. Attend this Web seminar and learn more about how you can achieve support throughout management's chain of command.

Date: November 3, 2005
Time: 10:00 a.m. Pacific / 1:00 p.m. Eastern
Presenter: Beth A. Meloy, President of Borasana, Inc.
Price: $99 per individual or $179 for two or more attendees per connection.

For more information or to register for this Web seminar click here.

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Calendar of Events for November

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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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