|In This Issue ...
- September Non-Manufacturing ISM Report On Business®: NMI at 50.2% Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing Read more.
- Mark Your Calendar for Two Free ISM Web Seminars: Read more.
- Oct. 15 — Driving Savings and Compliance in Tough Economic Times
- Oct. 23 — Maximize Your Training Dollars: Making Assessments Work for You
- First CPSM® in Canada Announced Read more.
- eSide Supply Management Article: Calling a Supplier's Bluff Read more.
- Explore Lessons Learned and Real-World Accomplishments at 9th Annual ISM Services Conference Read more.
- Cost-Effective, Environmentally Friendly Training Solutions Read more.
- Term of the Day Read more.
- Contact Us Read more.
|September Non-Manufacturing ISM Report On Business®: NMI at 50.2%
Economic activity in the non-manufacturing sector grew in September, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee; and senior vice president — supply management for Hilton Hotels Corporation. "The NMI (Non-Manufacturing Index) registered 50.2 percent in September, 0.4 percentage point lower than the 50.6 percent registered in August, indicating growth for the second consecutive month in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 0.5 percentage point to 52.1 percent. The New Orders Index increased 1.1 percentage points to 50.8 percent, and the Employment Index decreased 1.2 percentage points to 44.2 percent. The Prices Index decreased 2.9 percentage points to 70 percent in September, indicating a slower rate in price increases than in August. According to the NMI, 10 non-manufacturing industries reported growth in September. Respondents' comments are positive about the reduction in fuel and commodity costs; however, they remain concerned about overall market conditions and the economy."
To read the entire release click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global Manufacturing Contracted at Fastest Rate Since Late-2001
At 44.2 in September, down sharply from 48.6 in August, the JPMorgan Global Manufacturing PMI* indicated that manufacturers are currently facing the toughest operating conditions since the immediate aftermath of 9/11. PMIs for the US, the Eurozone, Japan and the UK were all down on levels one month ago, hitting their lowest since late-2001 in the US and the euro area, weakest since February 2002 in Japan and a survey record low in the UK. Meanwhile, operating conditions in Spain and the Czech Republic deteriorated to the greatest extents in their respective series histories.
The retrenchment of the manufacturing sector mainly reflected marked deteriorations in the trends for production, new orders and employment. The declines in output and new work received were the second most severe in the survey history, while staffing levels fell at the fastest pace for over six-and-a-half years.
For the complete JPMorgan release, click here.
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|Mark Your Calendar for Two Free ISM Web Seminars
- Driving Savings and Compliance in Tough Economic Times
Oct. 15, 2008
1 p.m. Eastern EDT, 10 a.m. Pacific PDT
Every organization, regardless of industry, is trying to manage the effects of the rapid changes on Wall Street and their reverberations throughout the economy. While the situation might look bleak, there are many proactive changes you can make within your procurement organization that will have a direct impact on the bottom line.
In this Web seminar, Aon's senior vice president of strategic procurement will share some of the best practice initiatives her organization is undertaking within procurement to drive savings and compliance. Executives from American Express will also share some industry trends and what companies are doing to automate within the source to settle process and systems to achieve more with less. You will learn to:
- Communicate with the right audience to achieve desired results.
- Determine ways to leverage management commitment to increase focus and success.
- Focus on suppliers at a global level in impacting procurement initiatives.
- Monitor compliance of expenses for delivering hard-dollar savings.
- Identify new payment solutions other companies are leveraging to manage working capital in a tight credit market.
Lisa A Rowe, Senior Vice President Strategic Procurement, Aon Corporation
Dennis Bauer, Vice President, American Express
This Web seminar qualifies for one CEH credit at ISM.
- Maximize Your Training Dollars: Making Assessments Work for You
October 23, 2008
2 p.m. Eastern EDT, 11 a.m. Pacific PDT
With the current downturn in the economy, organizations are searching for ways to save money and maximize their training investments. Register for this free Webinar to find out which assessment methods work, discover surprising research findings, and learn how to create trust with employees.
- How to determine why assessments are important.
- How to identify the different types of assessments.
- How to effectively communicate the results of the assessment with your employees.
- How to measure return on investment.
Bill Michels, CEO of ADR North America LLC
Rene Yates, Manager of Professional Development Services at the Institute for Supply Management™
Don't miss these free, one-hour, streaming-only Web events. For full details — or to register, click here
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|First CPSM® in Canada Announced
Paving the way for supply management professionals in Canada, Terry Volpel, CPSM, C.P.M., is the first to earn the Certified Professional in Supply Management (CPSM®), a new designation designed to help prepare supply managers for broader levels of responsibility. Institute for Supply Management™ (ISM) launched the CPSM® during its 93rd Annual International Supply Management Conference and Educational Exhibit in May 2008.
Volpel is a member of the Canadian Institute for Supply Management (CISM). In order to earn the CPSM®, Volpel had to meet all the criteria established by ISM for earning the qualification, including:
- Three years of full-time professional supply management experience (nonclerical or nonsupport);
- A clear statement from a specific country's higher learning and accrediting body concerning a degree's equivalency or a bachelor's degree from a regionally accredited institution;
- Pass all three CPSM® exams, or take the bridge exam if already a Certified Purchasing Manager (C.P.M.) in good standing.
The CPSM® represents the highest degree of professional competencies, containing the most comprehensive body of knowledge, and is designed to lead the profession by emphasizing the main components of supply management.
Professionals who obtain the CPSM® will have an advanced-level of broad-based skills to make better decisions regarding their organization's supply network, including how to take full advantage of opportunities around the world.
For additional information on the CPSM® program and exam preparation materials, or to sign up for CPSM® e-mail updates, click here.
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|eSide Supply Management Article: Calling a Supplier's Bluff
In the September/October 2008 edition of eSide Supply Management, Purchasing Advantage President Omid Ghamami offers six questions to determine how much a supplier needs (or doesn't need) your business.
- What percentage of your business will be coming from our firm with this proposed contract value?
- Relative to your other customers, what is our organization's expenditure ranking with this proposed contract value?
- Are you currently operating at full capacity?
- Are you doing business in any capacity with other divisions of our organization?
- If an agreement was reached, are there any target dates for placing the first order?
- Are there any industry segments or new markets for which you would like us to use this contract as a gateway?
To read the complete article — including how to interpret a supplier's response to these queries — click here.
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|Explore Lessons Learned and Real-World Accomplishments at 9th Annual ISM Services Conference
Improve your global services procurement, add value within your travel management and connect better with suppliers when you attend "Building a Strong Services Procurement Strategy: Leadership, Sourcing and Global Perspectives," presented by Institute for Supply Management™ (ISM). The 9th Annual ISM Services Conference will be held December 4-5, 2008 in Phoenix.
This program is designed for supply management professionals responsible for not only acquiring services, but developing the supply chain strategies that support the goals and objectives of the organization.
With more than 17 speakers, it features top experts from organizations including Allstate Insurance Company, Colgate-Palmolive Company, The Dow Chemical Company, Johnson & Johnson, MeadWestvaco Corporation, Nike, Office Depot and more. General session highlights include:
- Services and Global Sourcing Journey — Hear how Allstate Insurance Company has embarked on a new journey in its sourcing strategy: the expansion to global markets.
- Supplier Relationship Management (SRM) for Indirect Materials — Services
Learn from a sourcing expert at MeadWestvaco Corporation on addressing the challenge of developing an SRM approach in the services space.
- E-Sourcing for Services — Hear from a panel of supply practitioners who use e-sourcing tools to competitively bid services.
- The Hub Factor: Making Connections Count — Learn how to network with anyone, anywhere, in any situation in this highly interactive session.
- Your Personal Leadership Guarantees Indirect Procurement Success — A senior leader from Colgate-Palmolive Company will share real-world examples from Colgate to illustrate how to successfully implement an indirect procurement program.
- Developing Internal Credibility and Adding Value Through Strategic Sourcing — In this program, a top leader from The Dow Chemical Company shares how strategic sourcing not only adds value but also improves internal partner engagement.
Concurrent sessions over the two-day period include:
- Lessons Learned After Five Years of Sourcing in a Services Business
- Effective Global Travel Management
- A New Approach to Global Staffing
- Software Contracting From Legal and Cost Perspectives
- Building the Procurement Superhero
- Selecting Cost-Effective Green Supply Chain Programs for Your Organization
- Developing Internal Credibility and Adding Value Through Strategic Sourcing
Cost is $795 (USD) for ISM members and $995 (USD) for nonmembers. Networking time is built into the schedule, and attendees will also have the opportunity to take breaks to visit the Select Supplier Showcase. All sessions are at The Ritz-Carlton, 2401 E. Camelback Road, Phoenix. An ISM rate for accommodations at The Ritz-Carlton is offered until October 31, 2008. Team discounts and pre-conference seminar savings are available online.
For complete conference information, pre-conference offerings and registration information, click here.
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|Cost-Effective, Environmentally Friendly Training Solutions
ISM Professional Development programs strengthen your organization by building and aligning the talent and skills needed to increase the effectiveness of your entire supply chain. From off-the-shelf courses to fully tailored programs that include blended content and delivery options, ISM is dedicated to your organization's success.
ISM also offers a full curriculum of courseware over the Web.
Don't forget, all courses can be adjusted to fit the needs of your organization.
Delivering programs to your location represents a green, sustainable solution to your organization's professional development. By minimizing transportation costs and holding training on your schedule and at your location, you significantly reduce your organization's carbon footprint.
To learn more about cost effective, environmentally friendly training programs for purchasing and supply management professionals, contact Toni Caserta at firstname.lastname@example.org or Rene Yates at email@example.com. You may also call (800)888-6276 or (480)752-6276.
For a listing of standard ISM onsite seminars, click here.
Access ISM's Knowledge Center Online Course Guide — click here.
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|Term of the Day
Today's ISM Term of the Day is: RESIDUAL VALUE.
Definition: The value of an asset remaining at the end of a lease period.
A different Term of the Day is posted on the ISM Home Page (www.ism.ws) 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.
To access the online Glossary click here.
If you are not a member but would like membership information click here.
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