--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

 
Monday, October 1, 2012
   


In This Issue ...
  • September Manufacturing ISM Report On Business®: PMI at 51.5% — Read more.
  • Feature Article: Get a Supplier Risk Management Initiative Going — Read more.
  • Web Seminar October 3 — "The Road to Efficient Contract Management: Evaluating CLM Solutions"  — Read more.
  • Register Now To Attend 13th Annual ISM Services Conference — 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 51.5%

Economic activity in the manufacturing sector expanded in September following three consecutive months of slight contraction, and the overall economy grew for the 40th 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 51.5 percent, an increase of 1.9 percentage points from August's reading of 49.6 percent, indicating a return to expansion after contracting for three consecutive months. The New Orders Index registered 52.3 percent, an increase of 5.2 percentage points from August, indicating growth in new orders after three consecutive months of contraction. The Production Index registered 49.5 percent, an increase of 2.3 percentage points and indicating contraction in production for the second time since May 2009. The Employment Index increased by 3.1 percentage points, registering 54.7 percent. The Prices Index increased 4 percentage points from its August reading to 58 percent. Comments from the panel reflect a mix of optimism over new orders beginning to pick up, and continued concern over soft global business conditions and an unsettled political environment."

Read the entire Manufacturing ISM Report On Business® release.

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Feature Article: Get a Supplier Risk Management Initiative Going

In today's turbulent economy, understanding the risks posed by your suppliers is critical. If a supplier isn't financially healthy, its potential inability to fulfill its obligations can have major repercussions for your own organization's financial health.

So, what does an effective supplier risk management initiative look like, in practice? It's systematic. It's cross-functional. It's supplier-endorsed. And, it has "boots on the ground."

This new eSide Supply Management article also offers strategies for attempting to secure financial data from new or potential suppliers.

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Web Seminar October 3 — "The Road to Efficient Contract Management: Evaluating CLM Solutions"

Date: Wednesday, October 3, 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
Format: Streaming only
Sponsor: SciQuest
Host: ISM

You're smart. If you're still managing contracts the old-fashioned way, you already know your organization is at risk with inefficiencies and non-compliance. Not to mention the high costs associated with authoring and managing a contract from start to finish.

You know there's a better way.

Goldman Sachs estimates that contract automation could accelerate negotiation cycles by 50 percent and cut operating and processing costs associated with managing contracts by as much as 30 percent.

Join us on October 3 at 2 p.m. ET as guest speaker Andrew Bartels, vice president and principal analyst, Forrester Research, Inc., and SciQuest's CLM product director, Bhavani Rao, present "The Road to Efficient Contract Management: Evaluating CLM Solutions." This web seminar will look at the main points you should consider as you take the step toward automating your contract management, and will also discuss the benefits you can expect as you implement a technology solution. Register today!

You will learn:

  • How a technology solution will impact your contract management processes (In other words, if automation is the way to go)
  • Key features to look for when evaluating a CLM technology solution
  • What benefits you can expect to see as you automate your contract management.

Speakers:

  • Bhavani Rao
    Product Director
    SciQuest

  • Andrew Bartels
    Vice President, Principal Analyst
    Forrester Research, Inc.

Moderator:

  • Nora Pollard Neibergall, CPSM, CPSD, C.P.M.
    Senior Vice President
    Institute for Supply Management™

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Register Now To Attend 13th Annual ISM Services Conference

Registration is open for the 13th Annual ISM Services Conference, December 6-7, 2012 at the Pointe Hilton Tapatio Cliffs Resort in Phoenix. Presented by Institute for Supply Management™ (ISM) Services Group, this highly-rated program is a great opportunity to learn from other practitioners and experts. The one-and-one-half day program evolves to keep attendees current by building on the previous year.

Topics to be covered in this year's conference include:

  • Sourcing and Managing Telecom Services
  • Developing a Great Services RFP
  • Contracting for Success
  • Facilities Management
  • Legal Considerations
  • Software Licensing

The program also includes collaborative roundtable discussions and networking time.

REGISTRATION
Registration fee is US$949 for ISM members, US$1,149 for nonmembers and US$250 for students. Attendees can earn 9.5 Continuing Education Hours (CEHs).

HOTEL ACCOMMODATIONS
All sessions are at the Pointe Hilton Tapatio Cliffs Resort, 11111 N. 7th St., Phoenix, AZ 85020. Book your hotel room online or call +1 602/866-7500. Go online to receive the special room rate of US$139 Single/Double. The ISM rate is offered until November 8, 2012 or until the room block is sold out.

*Save US$200 when you register for both the Services Conference and this year's pre-conference seminar, "Strategic Services Procurement: Applying Strategic Sourcing Principles.

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Website of Interest

This month's Website of Interest is: The MIT Forum for Supply Chain Innovation (the Forum).

The MIT Forum for Supply Chain Innovation (the Forum) is a community composed of academics and industry members whose support allows Forum researchers to provide customer-focused solutions to design and manage the new supply chain. The site offers blogs, videos and event listings — all of which support the site's mission to pioneer a deeper understanding of the supply chain and its relationship to corporate strategy. Forum research is helping members of the community clearly see how the relationship between their supply chain and their business strategy ensures competitive advantage; means customers who demand more will get more; and means that implementing new strategy means implementing a new supply chain.

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: QUALITY FUNCTION DEPLOYMENT.

Definition: A structured method for translating user requirements into detailed design specifications using a continual stream of "what/how" matrices. QFD links the needs of the customer (end user) with design, development, engineering, manufacturing and service functions. It helps organizations seek out both spoken and unspoken needs, translate these into actions and designs, and focus various business functions toward achieving this common goal.

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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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.

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