|In This Issue ...
- November Non-Manufacturing ISM Report On Business®: NMI at 55% — Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
- Feature Article: Managing Risks in Volatile Raw Materials Markets" — Read more.
- No-Cost December 8 Web Seminar: "Leveraging Supply Base Intelligence to Keep Procurement on the CEO's Agenda" — Read more.
- Top Supply Chain Execs — BP, IBM Global Services, Intel Corporation, Tyco International, MeadWestvaco — Share Best Practices — 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.
|November Non-Manufacturing ISM Report On Business®: NMI at 55%
Economic activity in the non-manufacturing sector grew in November for the 11th 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 (Non-Manufacturing Index) registered 55 percent in November, 0.7 percentage point higher than the 54.3 percent registered in October, and indicating continued growth in the non-manufacturing sector at a slightly faster rate. The Non-Manufacturing Business Activity Index decreased 1.4 percentage points to 57 percent, reflecting growth for the 12th consecutive month but at a slower rate than in October. The New Orders Index increased 1 percentage point to 57.7 percent, and the Employment Index increased 1.8 percentage points to 52.7 percent, indicating growth in employment for the third consecutive month and the fifth time in the last seven months. The Prices Index decreased 5.1 percentage points to 63.2 percent, indicating that prices increased slower in November. According to the NMI, 10 non-manufacturing industries reported growth in November. Respondents' comments mostly reflect cautious optimism. There is a degree of uncertainty that still remains for some industries and companies."
To read the entire release, click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global PMI Rose to Four-Month High in November
At 53.9 in November, up further from September's 14-month low, JPMorgan Global Manufacturing PMI™ rose to its highest level since July. The headline PMI has now remained above the no-change mark of 50.0 for 17 consecutive months.
Amongst the larger nations covered by the survey, PMIs rose in China (eight-month high), Germany (three-month peak), the UK (highest since September 1994), France (ten-year high) and India (six-month peak). The Japan and Brazil PMIs also increased, but, in contrast to the other nations mentioned, remained below the 50.0 no-change mark.
For the complete JPMorgan release, click here.
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|Feature Article: Managing Risks in Volatile Raw Materials Markets
According to this October/November 2010 Inside Supply Management® article, highly unstable prices in commodities markets in recent years have put financial pressure on manufacturers of many types of goods. Often, they lack the organizational structures and processes to deal with this volatility effectively.
However, companies can optimize margins more effectively in the face of raw material price volatility by implementing a two-part strategy that combines greater collaboration among functions to align risk management efforts and encourage innovation, and a robust set of risk management practices to minimize exposure across the value chain. The strategy should be supported with rigorous analytics and the appropriate organizational structure, including clear risk guidelines and performance management processes.
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|No-Cost December 8 Web Seminar: "Leveraging Supply Base Intelligence to Keep Procurement on the CEO's Agenda"
Date: Wednesday, December 8, 2010
Time: 1 p.m. (EST) / 10 a.m. (PST)
Length: 60 minutes
We already know that decisions being made in the management of a supply base have a direct impact on enterprise-wide strategic initiatives. Helping the enterprise understand the importance of the linkage between business level KPIs and procurement decisions is critical to earning and sustaining a place on the CEO's agenda. As these KPIs become tied to the procurement organization, making the right choices when managing a supply base is vital. Procurement organizations must have actionable supply base intelligence at their fingertips to ensure that the right decisions are being made at the right time.
Join us as we discuss how leading procurement organizations are harnessing the power of supply base intelligence to play a key role in enterprise-wide decision making. As a result, procurement is helping to shape and achieve corporate objectives while increasing shareholder value.
You will learn:
- How shareholder value can be tied directly to decisions being made in the procurement organization
- How intelligent information can ensure that the right decisions are being made across the enterprise
- Proven methodologies leading organizations are leveraging to transform their procurement organizations
- Mitch Plaat
Vice President, Procurement (Chief Procurement Officer)
- Craig Doud
Vice President, Customer Loyalty
- Donovan Favre
Lecturer, Supply Chain Management
North Carolina State University
Attendance of the live session of this Web Seminar (50 minutes) qualifies for one CEH credit at ISM. Register on the ISM website.
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|Top Supply Chain Execs — BP, IBM Global Services, Intel Corporation, Tyco International, MeadWestvaco — Share Best Practices
What: 8th Annual Black Executive Supply Management Summit
When: February 9-11, 2011
Where: Boca Raton, Florida
Sponsors: Institute for Supply Management™ (ISM) and Howard University
Cost: US$795 for ISM members/US$995 for nonmembers/US$250 for ISM student members
A popular program, ISM's 8th Annual Black Executive Supply Management Summit (BESMS) helps supply management executives lead their careers and organizations to new heights with the latest best practices and unparalleled networking.
BESMS is for executives and managers in supply, with a special track for students enrolled in supply management degree programs. Renowned speakers from BP, IBM Global Services, Tyco International, MeadWestvaco, National Sustainability Coalition and more will share tried-and-true secrets for success that cross industry lines. Sessions highlights include:
- "Transformation: A Change of Pace" led by Chuck Wardlaw, vice president, U.S. Fuels Value Chain Procurement, BP
- "Make the Sustainable Shift" presented by Icy Williams, chair, National Sustainability Coalition
- Student Case Competition
- "Plan and Manage: From Global Contracts to Global Customers" led by Anthony Humphrey, director, Global Strategic Outsourcing, MeadWestvaco
- Executive Roundtable Networking
This year's BESMS will be held at the same time and location as ISM's 5th Annual Hispanic Supply Management Summit (HSMS) and 3rd Annual Women Executive Supply Management Summit (WESMS). Each summit has its own set of workshops, but general sessions are held together for added networking time with colleagues attending the other summits. Students are encouraged to attend.
Register online by January 7, 2011 for the best rate, or call +1 480/752-6276, option 8.
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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 e-mail address. (If you have more than one e-mail address, try each one.)
- If you do have an account, the ISM system will e-mail you your username and password.
- If, however, the system tells you the e-mail 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 Home Page, 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: FULL PAYOUT LEASE.
Definition: A lease in which the lessee pays full purchase price plus interest, maintenance, insurance and administrative costs.
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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