|In This Issue ...
- Institute for Supply Management™ (ISM) Selects New CEO — Read more.
- This Month in Inside Supply Management® Magazine — Read more.
- Feature Article: Trust Your Gut During a Negotiation — You Know More Than You Think — Read more.
- Web Seminar Tomorrow: "Reaching New Heights: The Dividends of Collaboration Between Finance and Procurement" — Read more.
- Calendar of Events for June — 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.
|Institute for Supply Management™ (ISM) Selects New CEO
Institute for Supply Management™ (ISM) announced today that it has completed the search for a new CEO and chosen Thomas W. Derry to lead the world's leading supply management association, effective July 30, 2012. Derry will succeed Paul Novak, CPSM, C.P.M., A.P.P., MCIPS as ISM CEO. Novak has served as ISM's top executive since 1997.
Derry is currently vice president and chief operating officer at the Association for Financial Professionals (AFP) in Bethesda, Maryland, a US$23 million association serving 17,000 corporate treasury and finance professionals in North America and more than 100,000 online registered readers worldwide. In his role with AFP, Derry is responsible for strategic planning and development, including U.S. and Canadian membership organizations and two wholly owned, for-profit U.K. subsidiaries. He has experience in all organizational functions, including advocacy, finance, human resources, sales, product development, publications, certification, education and training, conference production and marketing. Prior to joining AFP in 2003, Derry was with LexisNexis Group in Dayton, Ohio.
"Following a thorough and rigorous recruitment process, the search committee determined that Tom Derry is a top-notch choice," said ISM Board Member and ISM CEO Search Committee Chair Lisa Martin, C.P.M. "We interviewed a number of outstanding candidates and are excited to have found an individual who brings a wealth of experience in association management as well as someone who can define and execute a clear strategy and vision for ISM."
Early in 2011, current ISM CEO Novak announced his plans to retire, providing ample time for ISM's Board of Directors to conduct a comprehensive search for his successor. "The ISM Board greatly appreciates the excellent work Paul has achieved as CEO for the past 15 years," said ISM Board Chair Sidney Johnson, CPSM. "He has done a masterful job of broadening the association's focus and worldwide reach. While initially the search committee focused on executives from the purchasing and supply management field, we soon realized that a seasoned and successful association professional with exceptional marketing and strategic program development experience would ensure ISM's long-term growth and solid reputation."
Under Novak's leadership, ISM experienced a major change in governance, global expansion and the creation of new programs and services for supply management professionals. "It's been a privilege to lead ISM during a time of profound and constant change — both for the profession and the association," said Novak. "I'm confident we've found the right leader for ISM's next chapter and believe Tom brings proven talent and skills to lead the organization's dynamic future on a global scale."
"It is an honor to be selected for this critical role at ISM, an organization which truly has demonstrated thought-leadership for the profession over its illustrious history," said Derry. "From its closely watched monthly Manufacturing and Non-Manufacturing ISM Report On Business®, sponsorship of leading applied research, pioneering promotion of professional ethical standards, and leadership in promoting diversity in supply management, corporate social responsibility and environmental sustainability, ISM has truly established the developing frontier for the global profession. I look forward to working with ISM's outstanding board of directors, its volunteers and members, and a talented staff in continuing to build worldwide appreciation of the strategic role the profession plays in our increasingly interconnected global economy."
Press and media information
Requests for information or interviews should be directed to Jean McHale, ISM Public Relations at firstname.lastname@example.org.
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|This Month in Inside Supply Management® Magazine
Have you checked out the latest issue of Inside Supply Management® magazine? The May 2012 issue is full of useful information, including the following articles:
- ISM's 2012 Salary Survey
While the average salary for supply management professionals dipped slightly, job satisfaction emerged as the leading factor in job choice.
- Sharing Value With Suppliers
Supply management holds the key to helping its most important suppliers achieve financial stability by sharing expertise and setting the stage for mutual future success.
- Look Beyond Low Cost
Use an updated supplier selection scorecard to find the supplier that will add long-term value to your supply chain.
- Measuring Green
Organizations are realizing the current state of establishing standards and metrics for sustainability efforts is not as defined as other areas of measurement.
Access the complete May 2012 issue of Inside Supply Management® online.
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|Feature Article: Trust Your Gut During a Negotiation — You Know More Than You Think
Conventional wisdom, on the subject of negotiation, dictates that we avoid relying on gut instinct or intuition when making decisions. Research has clearly demonstrated that our brains are hardwired with a variety of systematic biases, which can have a negative impact on our judgment during a negotiation.
On the other hand, if we follow conventional wisdom and only employ a rational decision-making approach based upon quantitative analysis and objective data in our negotiations with suppliers, we circumvent the power of the unconscious mind.
Solid decision-making in a supplier negotiation setting isn't an either/or situation. It doesn't rely exclusively on the rationality of conscious thought, or on complete trust in the intuitiveness of our unconscious mind.
Rather, the best negotiation outcomes result when we gather the hard data with our conscious mind, but also provide an opportunity for our unconscious mind to digest it, thereby bringing all our learning and experience to bear.
Read the full article on the eSide Supply Management® website.
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|Web Seminar Tomorrow: "Reaching New Heights: The Dividends of Collaboration Between Finance and Procurement"
Date: Thursday, May 17, 2012
Time: 2 p.m.-3 p.m. — U.S. Eastern/1 p.m.-2 p.m. — U.S. Central/12 p.m.-1 p.m. — U.S. Mountain/11 a.m.-12 p.m. — U.S. Pacific/6 p.m.-7 p.m. — GMT
Length: 60 minutes
Price: No cost
Format: Streaming only
Finance has traditionally counted on — and valued — the procurement function strictly for its ability to cut costs, giving the bottom line a much-appreciated lift. But in this new report — which surveyed 263 finance executives from North America, Europe and Asia — almost three-quarters of respondents say that the finance function at their company has grown more strategic-minded over the last three years.
In this webcast, we'll delve into the survey results, as well as sharing what we've learned from our in-depth interviews with more than half a dozen senior finance executives around the globe, to tell you how procurement's changing role might help your business gain a sustainable competitive edge.
- Sam Knox
Vice President and Director of Research
CFO Research Services
- John Lark
Director, Solutions Marketing
- Nora Pollard Neibergall, CPSM, CPSD, C.P.M.
Senior Vice President
Institute for Supply Management™
Registration is available online.
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|Calendar of Events for June
Release of the Manufacturing Report On Business®
Fundamentals of Finance for the Supply Management Professional
Finance Week 2012: Fundamentals through Advanced Concepts
Release of the Non-Manufacturing Report On Business®
Finance for the Supply Management Professional
Advanced Finance & Global Economics for the Supply Management Professional
Leading and Managing Supply Relationships
Integrating Purchasing, Logistics and Inventory with Suppliers
Conference Leadership Committee Meeting
Supplier Risk Management
San Diego, CA
Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism
Contracting: What All the Ts and Cs Mean (formerly Contracting Basics: What All the Ts and Cs Mean)
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|Term of the Day
Today's ISM Term of the Day is: STATISTICAL SAMPLING.
Definition: The process of testing the parameters of a sample of items in a population and extrapolating the results of that sample to the whole population.
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.
- 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 email address. (If you have more than one email address, try each one.)
- If you do have an account, the ISM system will email you your username and password.
- If, however, the system tells you the email 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 website, 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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