Wednesday, January 2, 2013

In This Issue ...
  • December Manufacturing ISM Report On Business®: PMI at 50.7% — Read more.
  • Feature Article: Drilling Down on Uniform Commercial Code 2-207 (UCC 2-207) — Read more.
  • Register Now for ISM Summit for Black Executives in Supply Management — Read more.
  • ISM Accepting Doctoral Dissertation Grant Applications — 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.

ISM's Reality Check Series - Detroit: Hear Me Roar Banner Ad

December Manufacturing ISM Report On Business®: PMI at 50.7%

Economic activity in the manufacturing sector expanded in December, following one month of contraction, and the overall economy grew for the 43rd 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 50.7 percent, an increase of 1.2 percentage points from November's reading of 49.5 percent, indicating expansion in manufacturing for only the third time in the last seven months. This month's PMI™ reading moved manufacturing off its low point for 2012 in November. The New Orders Index remained at 50.3 percent, the same rate as in November, indicating growth in new orders for the fourth consecutive month. The Production Index registered 52.6 percent, a decrease of 1.1 percentage points, indicating growth in production for the third consecutive month. The Employment Index registered 52.7 percent, an increase of 4.3 percentage points, indicating a resumption of growth in employment following only one month of contraction since September 2009. Both the Exports and Imports Indexes registered 51.5 percent, returning both indexes to growth territory following consecutive periods of contraction of six and four months, respectively. Comments from the panel this month are mixed, with some indicating a strengthening of demand and others indicating a continuing softness in demand. Additionally, many respondents express uncertainty about government regulations, taxes and global economics in general as we approach 2013."

Read the entire Manufacturing ISM Report On Business® release.

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Feature Article: Drilling Down on Uniform Commercial Code 2-207 (UCC 2-207)

The first article of a two-part series — Pick a Contract! (Not Just Any Contract) — discussed the most commonly used contract forms, and when each may be used to suit the strategic importance of the transaction.

In this second and final article, authors Jane K. Winn and Alex Belov, MBA, C.P.M., CPIM review how Uniform Commercial Code 2-207 (UCC 2-207) — the article governing the "battle of the forms" — may apply.

"Purchasing managers and their in-house counsel may assume that the battle-of-the-forms analysis shouldn't apply to transactions documented with master supply agreements," Winn and Belov write. "However, the outside lawyers who often handle litigation and judges may lack a clear understanding of the differences between an ad hoc PO, a blanket PO or a transaction PO placed against a master supply agreement."

As a result, in a litigation situation, a transaction PO issued under a master supply agreement might be treated as equivalent to an ad hoc PO, the authors assert. "This could open the door to the erroneous application of UCC 2-207 to a master supply agreement."

Read this eSide Supply Management article online.

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Register Now for ISM Summit for Black Executives in Supply Management

Register now to attend the 10th Annual Black Executive Supply Management Summit, to be held February 5-7, 2013 at the Doubletree by Hilton New Orleans. This event delivers supply chain management strategies as well as general business approaches to help you streamline your enterprise. This is not only an opportunity for face-to-face learning, but for networking as well.

Find out what other organizations are doing to get ahead. Hear from top performers representing General Mills, IBM Corporation, DuPont, Cisco WebEx, MeadWestvaco, and more. The program is presented for black executives, their direct reports and those interested in building their career in supply management.

Hosted by Institute for Supply Management™ (ISM) the 10th Annual Black Executive Supply Management Summit is at the same time and location as the 5th Annual Women Executive Supply Management Summit. Each summit has its own set of workshops, but general sessions are together. Summit registrants are welcome to attend any of the concurrent sessions.

Student teams will present cases on the morning of February 7, 2013. In addition to showcasing the next generation of supply management talent, student team members will also hear from practitioners on how to establish themselves in the supply management profession.

Register now by visiting the ISM website. Registration is US$949 for ISM members and US$1,149 for nonmembers. Student Member rate is US$250. Fees include all summit workshops and scheduled meals. Register by December 28, 2012 to receive a US$100 discount. (Student registration is not included in the discount offers.)

All sessions are at the Doubletree Hilton New Orleans, 300 Canal Street, New Orleans, LA 70130. For hotel reservations, please book online. Book by January 7, 2013, to receive the special rate of US$169. NOTE: Free in-room Internet was negotiated for guests staying at host facility.

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ISM Accepting Doctoral Dissertation Grant Applications

Institute for Supply Management™ (ISM) is accepting applications in its Academic Research Support Program for Dissertation Research Grants. Completed application packets are due by January 31, 2013.

The long-running ISM Dissertation Grant Program encourages doctoral students interested in supply management to develop and complete their dissertation research in supply management or closely related topics. For 2013, ISM intends to support up to four dissertations at up to US$12,000 each. Each recipient has three years from the date of the award to complete their dissertation.

Visit ISM online for general eligibility requirements, evaluation criteria and application procedures for the ISM Dissertation Research Grant.

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Website of Interest

This month's Website of Interest is: The Strategic Sourcerer.

Launched in January 2008, The Strategic Sourcerer blog provides up-to-date news, current events, opinions, press releases, cost-saving tips and best practice articles on business topics surrounding strategic sourcing, supply chain, procurement, purchasing and spend management. The blog also offers frequent contributions from in-house Source One experts.

Recent post topics include supply chain sustainability, port strikes and iPhone supply chain issues.

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: SUPPLY CONTINUITY.

Definition: Provision for continuation of supply in the event of disruption of normal supply channels or to prevent such disruption. It may include disaster contingency plans, multiple production facilities and effective production and quality systems.

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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Contact Us

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