|In This Issue ...
- May Non-Manufacturing ISM Report On Business®: NMI at 54.6% — Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
- Feature Article: The Green Game Has Changed in a Marketable Way: Examining California's Cap and Trade Program — Read more.
- ISM Announces 2011 Academic Research Support Program Grants — Read more.
- June 14 Web Seminar: "Measuring the Effectiveness and Value of E-Payment Solutions" — Read more.
- It's Easy to Subscribe to the Just in ETime Newsletter — Read more.
- Term of the Day — Read more.
- Contact Us — Read more.
|May Non-Manufacturing ISM Report On Business®: NMI at 54.6%
Economic activity in the non-manufacturing sector grew in May for the 18th consecutive month, 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. "The NMI registered 54.6 percent in May, 1.8 percentage points higher than the 52.8 percent registered in April, and indicating continued growth at a faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased 0.1 percentage point to 53.6 percent, reflecting growth for the 22nd consecutive month, but at a slightly slower rate than in April. The New Orders Index increased by 4.1 percentage points to 56.8 percent. The Employment Index increased 2.1 percentage points to 54 percent, indicating growth in employment for the ninth consecutive month and at a faster rate. The Prices Index decreased 0.5 percentage point to 69.6 percent, indicating that prices increased at a slightly slower rate in May when compared to April. According to the NMI, 16 non-manufacturing industries reported growth in May. Respondents' comments are mostly positive about overall business conditions. There is a sentiment that there is a degree of stability in the economy; however, a continued concern exists over fuel costs and various volatile commodities."
To read the entire release, click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global Manufacturing Sector Cools Further in May
At 52.9 in May, the JPMorgan Global Manufacturing PMI™ fell for the third month running to reach its lowest level since September 2010. Although the headline index remained above the neutral 50.0 mark for the twenty-third successive month, the rate of growth was below the average for this period.
Rates of expansion eased for manufacturing output, new orders, new export orders and employment.
A marked slowdown in the US was the main factor weighing on global manufacturing growth, with the US PMI dropping by almost seven points to a 20-month low of 53.5. Among the other major industrial regions covered by the survey, rates of improvement eased in the Eurozone (seven-month low), China (weakest since July 2010), the UK (20-month low) and India (4-month low).
For the complete JPMorgan release, click here.
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|Feature Article: The Green Game Has Changed in a Marketable Way: Examining California's Cap and Trade Program
A new environmental policy in California will require procurement professionals doing business in the state to address carbon cap and trade or face additional cost pressures.
The passage of the California Air Resource Board Carbon Emissions Trading Policy on December 16, 2010 means the roles of supply managers, buyers and purchasers will change measurably this year. Enterprises and suppliers doing business in California must address carbon cap and trade in a meaningful way or face additional cost pressures.
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|ISM Announces 2011 Academic Research Support Program Grants
Institute for Supply Management™ (ISM), with the support of the ISM Board of Directors, has awarded several grants under the ISM Academic Research Support Program. The program's goal is to increase academic leadership by the profession and more help more advanced students enter the supply management profession. At its May 2011 meeting, the ISM Board approved the ISM Educational Resources Committee's recommendations for grants in each of the four phases of the Academic Research Support Program, as follows:
Two grants of US$12,000 each were awarded in the Phase 1: ISM Dissertation Research Grants:
- Monique L. Ueltschy Murfield is a Ph.D. candidate in logistics at the University of Tennessee in Knoxville. Murfield's dissertation proposal is titled Supplier Adoption of Environmental Initiatives in Asymmetric Relationships: Influence of Supplier Tolerance and Satisfaction. Murfield is preparing to receive her doctoral degree in May 2012.
- Kihyun Park is a Ph.D. candidate in manufacturing technology management at the University of Toledo. His dissertation proposal is titled Flexible and Redundant Supply Chain Practices to Build Strategic Supply Chain Resilience: Contingent and Resource-Based Perspectives. Park plans to complete his dissertation in summer 2011.
The Phase 2: Professional Research Development Grant of US$10,000 was awarded to Susan L. Golicic, Ph.D., assistant professor in the Department of Management, College of Business at Colorado State University, for her research titled Driving Supply Chain Sustainability through Transportation.
The Phase 3: Professional Research and Collaboration Grant of US$15,000 was awarded to Christopher W. Craighead, Ph.D., assistant professor in the Department of Supply Chain and Information Systems, Smeal College of Business at The Pennsylvania State University. Craighead's research is titled Building Global Supply Resiliency to Natural Disasters.
The Phase 4: The ISM Distinguished Leadership Grant has been awarded to Lisa M. Ellram, Ph.D., C.P.M., CMA, Rees Distinguished Professor of Distribution, Department of Marketing, Farmer School of Business at Miami University, Oxford, Ohio. Ellram received US$15,000 for year one of her research, titled A Research Agenda for Understanding Services Purchasing.
Each of the four phases of ISM's Academic Research Support Program has specific selection criteria as well as distinct application and evaluation procedures. Visit ISM online for general eligibility requirements.
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|June 14 Web Seminar: "Measuring the Effectiveness and Value of E-Payment Solutions"
Date: Tuesday, June 14, 2011
Time: 11 a.m. PST / 2 p.m. EST
Price: No cost
Length: 60 minutes
Sponsor: American Express
Please join American Express as it shares best practices regarding measuring the effectiveness and value of e-Payment solutions. Discussed will be the results of a recent benchmarking survey the organization conducted in conjunction with ISM and CAPS Research that shows the vast majority of best-in-class companies have adopted — or plan to adopt — e-payment solutions.
In a challenging economic environment, these companies are looking to e-payment solutions to help optimize payment processes, increase payment automation and improve working capital. American Express will discuss some of the barriers to e-payment adoption and the key to overcoming those barriers.
Attendees will learn:
- The benefits of e-payment solutions
- Key considerations when implementing e-payment solutions
- Best practices for optimizing and integrating e-payment solutions in your procure-to-pay process
- Metrics for measuring the success of e-payment solutions.
Vice President and General Manager
American Express Commercial Card
Attendance of the live session of this Web seminar qualifies for one CEH credit at ISM.
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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 e-mail address. (If you have more than one e-mail address, try each one.)
- If you do have an account, the ISM system will e-mail you your username and password.
- If, however, the system tells you the e-mail 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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|Term of the Day
Today's ISM Term of the Day is: FIXED ORDER QUANTITY.
Definition: A material replenishment system in which the size of the orders remain fixed, while the time interval between them changes, depending on how quickly the items are consumed.
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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