|In This Issue ...
- This Month in Inside Supply Management® Magazine — Read more.
- No-Cost Web Seminar Next Week: "Supplier Relationship Management — An Auxiliary to Sourcing" — Read more.
- Feature Article: Great News for Up-and-Coming Supply Managers! Procurement Has the Limelight, Post-Recession — Read more.
- ISM Names 2011 Winners of Awards for Excellence in Supply Management" — Read more.
- Stand Out From Your Peers — CPSD™ Exam Offered Onsite at 2011 WBENC Conference — Read more.
- ISM Announces 2011 R. Gene Richter Scholarship Program Recipients — Read more.
- Calendar of Events for May — 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 April 2011 issue is full of useful information, including the following articles:
Access the complete April 2011 issue of Inside Supply Management® online.
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|No-Cost Web Seminar Next Week: "Supplier Relationship Management — An Auxiliary to Sourcing"
Date: Tuesday, April 26, 2011
Time: 2 p.m. (EST)/11 a.m. (PST)
Length: 60 minutes
Price: No cost
In a competitive market, cornering resources is immensely advantageous to a company. Good suppliers are a scant resource and are integral to the development and success of any product.
The purchasing manager or supply chain manager needs to construct supply networks that add value to the products and also help optimize cost benefits. As such, SRM becomes important to engage and build relations with the supplier in much the same way CRM programs are used for customers. SRM, together with the support of technology, can help organizations move beyond mere transactional relationships with suppliers to building robust and beneficial supply channel partnerships.
In this web seminar, you will understand that the best supply management strategies don't end with purchasing and effective sourcing — they extend far beyond, creating robust supplier relationships.
You will learn:
- The importance of SRM vis-à-vis sourcing
- To identify focus areas for a successful SRM program
- How to build the right organizational structure, focus and support — learning from leaders in SRM.
Azul Partners, Managing Director
Manager, Editor — Inside Supply Management®
Institute for Supply Management™
Attendance of the live session of this web seminar qualifies for one CEH credit at ISM.
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|Feature Article: Great News for Up-and-Coming Supply Managers! Procurement Has the Limelight, Post-Recession
An annual Capgemini Consulting survey — Global Chief Procurement Officer Survey 2010 — shows 62 percent of the 150 CPOs and senior supply chain leaders surveyed believe the procurement function emerged from the global economic downturn in 2010 with a higher profile. "Nearly 70 percent said the purchasing function reports directly into the boardroom, and one-quarter said procurement reports directly to the CEO," the report states.
Additionally, many CPOs and senior supply chain leaders said the buying team is well-positioned for future growth in the aftermath of the most recent recession — another great sign for emerging supply management professionals who are looking to build their careers, as well as their visibility among executives within their organizations. One indicator is the fact that organizational spend controlled by procurement has increased slightly compared to 2009: For more than 70 percent of the companies surveyed, that spend is now well above 60 percent.
To access this article, click here.
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|ISM Names 2011 Winners of Awards for Excellence in Supply Management
Institute for Supply Management™ (ISM) announces the 2011 winners of the 6th Annual ISM Awards for Excellence in Supply Management. The following five winners will be recognized in Orlando, Florida at ISM's 96th Annual International Supply Management Conference and Educational Exhibit, to be held May 15-18, 2011:
- Delphi; Technology Category
- IBM Corporation; Sustainability Category
- L-3 Communications; Process Category
- Pfizer Inc.; Process Category
- State of Georgia, Department of Administrative Services — State Purchasing Division; Technology Category
Representatives from the winning organizations will share their winning stories in unique ISM Conference Workshop Sessions on Monday, May 16, and Tuesday, May 17, 2011.
Delphi developed and deployed a tool, used throughout the entire supply organization, that captures information necessary to make sourcing decisions based on the total cost of acquisition. It allows the user to compare the total cost of sourcing materials from competing suppliers in various geographic locations.
IBM's environmental and social leadership has enabled the company to help suppliers manage energy consumption and green house gas emissions while becoming more accountable and socially responsible. In addition to delivering millions of dollars in operational cost savings, the Supply Chain organization uses a Social and Environmental Management System to monitor and report goals.
L-3 is a major aerospace and defense prime contractor that designs, manufactures and supports products, subsystems and systems that help ensure national and global security. To help mitigate the risks and costs associated with component obsolescence and counterfeit parts in the supply chain, L-3 implemented executive councils comprised of senior leaders in the supply chain and quality organizations, and deployed teams to develop a disciplined and comprehensive strategy.
Pfizer's Worldwide Procurement Professional Services team developed and implemented a new set of processes in the areas of consulting and legal services. This new approach increased value and greater senior management engagement at Pfizer, as well as cumulative savings of more than US$370 million.
State of Georgia, Department of Administrative Services — State Purchasing Division
The State of Georgia's Department of Administrative Services (DOAS) created Spend Management Analytics to provide analysis of financial data across multiple agencies and dimensions. Along with the Team Georgia Marketplace™ and continuous monitoring, the SUM (Spend Under Management) Initiative allows Georgia a more strategic view of spending.
The 7th Annual ISM Awards for Excellence in Supply Management call for entries will open on July 1, 2011. Multiple entries are welcome in one or more of the following categories: Process, People, Organization/Structure, Technology and Sustainability.
Sponsors for the 6th Annual ISM Awards for Excellence in Supply Management are:
- Gold — A.T. Kearney Procurement & Analytic Solutions
- Silver — ADR North America; Bank of America; eclaro International; HP; Northrop Grumman Corporation; Pfizer Inc.
- Bronze — Anklesaria Group; Connolly; MeadWestvaco Corporation; Tyco International
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|Stand Out From Your Peers — CPSD™ Exam Offered Onsite at 2011 WBENC Conference
Women's Business Enterprise National Council (WBENC), along with Institute for Supply Management™ (ISM) have arranged a unique opportunity for members of either organization to take the new Certified Professional in Supplier Diversity™ (CPSD™) Exam following the WBENC 2011 National Conference & Business Fair, to be held June 21-23, 2011 in Las Vegas.
The new CPSD™ designation launched by ISM is developed for supply management and supplier diversity professionals who want to strengthen their knowledge and enhance their credentials in the field of supplier diversity. The CPSD™ Exam covers the major areas of supplier diversity and supply management. WBENC has been instrumental in working with ISM to include diversity subject matter experts in the development of the new designation.
As a supporter of the new CPSD™ program, WBENC has arranged for the CPSD™ Exam (one of two exams required for applying for the CPSD™) to be available for members on Friday morning, June 24, 2011 in Las Vegas.
"WBENC is proud to offer our Corporate Members access to this new Certified Professional in Supplier Diversity™ credential. We believe it is important to recognize professional expertise in the area of corporate supplier diversity and are pleased that this certification will convey that knowledge in the business community," said WBENC President and CEO Pamela Prince-Eason, who is also an ISM Certified Professional in Supply Management® (CPSM®).
Registration fee for the onsite CPSD™ Exam at the WBENC Conference is US$180. Non-ISM members who register at the special rate of US$180 will save US$85 from the normal non-member rate. For more information on the CPSD™ Program, CPSD™ Exam specifications, and specifics on the onsite CPSD™ Exam scheduled for Friday, June 24, 2011 in Las Vegas, visit the ISM website. Registration deadline for the onsite WBENC Conference CPSD™ Exam is June 10, 2011.
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|ISM Announces 2011 R. Gene Richter Scholarship Program Recipients
Ten students, representing seven leading universities, are recipients of 2011 R. Gene Richter Scholarships. Now in its eighth year, the R. Gene Richter Scholarship Program is the largest nationally recognized scholarship program in the field of supply chain management. Winners will be recognized May 15, 2011 at an awards dinner held during Institute for Supply Management™'s 96th Annual International Supply Management Conference and Educational Exhibit in Orlando, Florida.
The 2011 Richter Scholars are:
- Stephanie Bedard / University of South Carolina, Moore School of Business
- Sarah DiPietro / Michigan State University, Eli Broad College of Business
- Kevin Douglas / Eastern Michigan University, Gary M. Owen College of Business
- Anthony Garwood / Michigan State University, Eli Broad College of Business
- Kevin Lau / Arizona State University, W. P. Carey School of Business
- Sara Mahmood / Wayne State University, School of Business Administration
- Christopher Mulcahy / Western Michigan University, Haworth College of Business
- Joseph Schibi / Arizona State University, W. P. Carey School of Business
- Cameron Tew / Western Michigan University, Haworth College of Business
- David Wu / The Pennsylvania State University, Smeal College of Business
Scholarships are awarded through ISM's R. Gene Richter Scholarship Fund and through the R. Gene and Nancy D. Richter Foundation. The 2011 Richter Scholars receive tuition assistance of up to US$5,000 and the benefits of an executive mentor, which pairs the student with an established executive, and a junior mentor, which pairs the student with a former Richter scholar.
The R. Gene Richter Scholarship Program was established and named in memory of R. Gene Richter, who was a galvanizing force in the field of procurement. Richter is admired for elevating the profession to world-class stature. He led the supply organizations at The Black & Decker Corporation, Hewlett-Packard and International Business Machines (IBM).
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|Calendar of Events for May
Release of the Manufacturing Report On Business®
Supplier Relationship Management for Collaboration, Impact and Business Success
Las Vegas, NV
Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism
Release of the Non-Manufacturing Report On Business®
Contracting Basics: What All the Ts and Cs Mean
CPSM® Bridge Exam Review Course
Affiliate Leadership Training Program
96th Annual International Supply Management Conference & Educational Exhibit
Release of the ISM Semiannual Economic Forecast
CAPS Research Pushing Green: Implementing Environmental Standards and Expectations in the Supply Base (Critical Issues)
ISM Headquarters Closed — Memorial Day
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|Term of the Day
Today's ISM Term of the Day is: SALE AND LEASEBACK.
Definition: The practice of selling an asset to an investor and leasing it back for use in an organization's operations; used to free up capital.
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.
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- Finally, select Just in ETime from the list of available newsletters.
If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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