Monday, October 3, 2011

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In This Issue ...
  • September Manufacturing ISM Report On Business®: PMI at 51.6% — Read more.
  • Feature Article: Make Me an Offer! — Read more.
  • No-Cost Web Seminar Next Week: "Strategic Sourcing — Quick Wins to Boost This Year's Savings Total" — Read more.
  • 4th Annual ISM Sustainability and Social Responsibility Conference Happens Next Month in Florida — Read more.
  • Website of Interest — 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.

September Manufacturing ISM Report On Business®: PMI at 51.6%

Economic activity in the manufacturing sector expanded in September for the 26th consecutive month, and the overall economy grew for the 28th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The PMI registered 51.6 percent, an increase of 1 percentage point from August, indicating expansion in the manufacturing sector for the 26th consecutive month, at a slightly higher rate. The Production Index registered 51.2 percent, indicating a return to growth after contracting in August for the first time since May of 2009. The New Orders Index remained unchanged from August at 49.6 percent, indicating contraction for the third consecutive month. The Backlog of Orders Index decreased 4.5 percentage points to 41.5 percent, contracting for the fourth consecutive month and reaching its lowest level since April 2009, when it registered 40.5 percent. Comments from respondents generally reflect concern over the sluggish economy, political and policy uncertainty in Washington, and forecasts of ongoing high unemployment that will continue to put pressure on demand for manufactured products."

To read the entire release, click here.

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Feature Article: Make Me an Offer!

For many organizations, the focus on procuring goods and services has increased dramatically in recent years as supply management executives are enlisted to increase company savings and boost the bottom line. As a result, many supply management leaders are now at the C levels in their organizations. To ensure their continued success, it's important that organizations embrace strong sourcing processes and the use of competitive solicitations.

Supply management professionals who have solicited a bid or request for proposal (RFP) in the past know the importance of having a scope of work, or SOW, that clearly describes their organizations' needs and requirements. A clear, concise SOW is essential to ensure that suppliers understand the requirements of the goods or services being solicited. Additionally, this understanding levels the playing field for all participants in the solicitation and lends itself to superior supplier performance and overall success.

On the other hand, without a detailed SOW, suppliers will find it difficult to understand service-level expectations, submit an accurate proposal to the solicitation or perform the actual work to the organization's satisfaction. Any leeway for interpretation increases the potential for misunderstandings and dissatisfaction among all parties. As such, a detailed SOW is perhaps the single most important element of a successful solicitation or contract.

Read this eSide Supply Management article online.

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No-Cost Web Seminar Next Week: "Strategic Sourcing — Quick Wins to Boost This Year's Savings Total"

Date: Wednesday, October 12, 2011
Time: 10 a.m. PDT/1 p.m. EDT
Format: Streaming Only
Length: 60 minutes
Price: No cost
Host: ISM
Sponsor: Capgemini

For more than 20 years, strategic sourcing has been a known procurement process, proven to identify costs and add savings value to the company. However, studies still show that compliance rates are dismally low.

While procurement professionals agree that sourcing is "low pain with high gain," surprisingly few large companies use the maximum effect of their sourcing agenda to really drive the compliance agenda.

Join our web seminar on Wednesday, October 12 at 10 a.m. PDT/1 p.m. EDT to learn from experienced practitioners how you can take charge of your strategic sourcing and the necessary tools to start generating savings — and even can gain this year!

Learning Objectives:

  • Get a clear understanding and overview of how to leverage technology to drive sourcing and compliance agendas
  • Establish a defined, repeatable and auditable source-to-contract process, which is a framework for continuous improvement and organic learning
  • Enforce control and compliance in the contract creation process to reduce and mitigate legal risks
  • Increase competition in your sourcing to improve cost savings for your business
  • Improve your negotiation skills in supplier meetings by fully understanding your supplier's cost.

Featured Speaker:

Torbjörn Thorsén
Product Strategy Innovation
Capgemini Procurement Services

Attendance of the live session (minimum of 50 minutes) of this web seminar qualifies for one CEH credit at ISM.

To register, visit the ISM website.

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4th Annual ISM Sustainability and Social Responsibility Conference Happens Next Month in Florida

When: November 7-8, 2011
Where: Lake Buena Vista, Florida
Early registration extended: Register by 10/5/11 to get the best discount.

Your organization can't move forward unless it remains competitive. Having a strong organizational strategy that addresses sustainability and corporate social responsibility (CSR) is an essential ingredient.

Attend ISM's 4th Annual Sustainability Conference and discover the benefits of embracing this business philosophy. Every day, the headlines in our most respected business publications announce another story about an organization that has committed itself to sustainable business practices. Organizations are reducing their carbon footprints, practicing responsible sourcing and planning for the next generation.

Highlights of this year's program include:

  • Core values in a global marketplace
  • Ratings and rankings
  • Corporate environmental scorecards
  • Economy, energy and environment
  • Procurement's influence for sustainable success
  • Revenue streams
  • Seven keys to safety at your organization
  • LEED Certification: the inside story
  • Driving sustainability initiatives

Who Should Attend This Program

Supply management professionals engaged in developing and supporting corporate social responsibility and sustainability initiatives. Supply management professionals might want to invite those outside of supply management to gain buy-in and to build the foundation for organizational success. Corporate sustainability and social responsibility initiatives are holistic strategies that involve the entire organization. From the CEO to administrative support, all areas must heed the call to sustainability and CSR — but, supply chain professionals are often the catalysts for change within the organization.

For an agenda, registration information, to download the complete program brochure and more, visit the ISM website.

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Website of Interest

This month's Website of Interest is Spend Matters™ UK/Europe

This UK/Europe-focused blog is written for anyone seeking insight into spend management — procurement, supply chain management, purchase to pay and related areas. According to bloggers Peter Smith and Jason Busch, the goal is to cover "professional issues first, personal issues second — although we'll be the first to admit that we can all benefit from smarter spending at home as much as in the workplace."

Recent posts address the supply chain risk management outlook for Greece, the state of UK health procurement, procurement "the Italian way" and more.

Please note: These external Internet addresses contain information created, published, maintained or otherwise posted by institutions or organizations independent of ISM. Links from these websites, or any other website(s) accessible from these websites, to any product, entity, service or information, do not constitute a recommendation by ISM. ISM is not responsible for the contents of any other website.

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Term of the Day

Today's ISM Term of the Day is: AGGREGATE INDEX NUMBERS.

Definition: Calculation of price changes for a group of related items over time (e.g., an aggregate index for fasteners combining nails and screws). An example is the producer price index (PPI) that measures changes in the average wholesale price of products sold in the United States over a given period of time.

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

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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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