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Thursday, November 3, 2011
   


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In This Issue ...
  • October Non-Manufacturing ISM Report On Business®: NMI at 52.9% — Read more.
  • Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
  • Feature Article: A Great Vision Isn't Enough — Read more.
  • ISM's Journal Makes Rapid Ascent to Top Management Journals — Read more.
  • Feature Article: Leveraging RFID — 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.


October Non-Manufacturing ISM Report On Business®: NMI at 52.9%

Economic activity in the non-manufacturing sector grew in October for the 23rd 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 52.9 percent in October, 0.1 percentage point lower than the 53 percent registered in September, and indicating continued growth at a slightly slower rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased 3.3 percentage points to 53.8 percent, reflecting growth for the 27th consecutive month. The New Orders Index decreased by 4.1 percentage points to 52.4 percent. The Employment Index increased 4.6 percentage points to 53.3 percent, indicating growth in employment after one month of contraction. The Prices Index decreased 4.8 percentage points to 57.1 percent, indicating prices increased at a slower rate in October when compared to September. According to the NMI, eight non-manufacturing industries reported growth in October. Even though there is month-over-month growth in the Employment Index, respondents are still expressing concern over available labor resources and job growth. The continued strong push for inventory reduction by supply management professionals has resulted in contraction in the Inventories Index for the first time in eight months. Respondents' comments are mixed and reflect concern about future business conditions."

To read the entire release, click here.

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Latest JPMorgan Global PMI: Global Report on Manufacturing

Global Manufacturing Stagnates in October

Conditions in the global manufacturing sector remained broadly stagnant in October. Levels of production and new orders fell slightly over the month, while new export orders declined at the quickest pace for almost two-and-a-half years.

At 50.0 in October, little-changed from 49.8 in September, the JPMorgan Global Manufacturing PMI™ remained within 0.2 points of the no-change mark for the third month running.

For the complete JPMorgan release, click here.

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Feature Article: A Great Vision Isn't Enough

Sourcing leaders create visions for their teams that answer the question: Where should we be in X number of years? These visions articulate the general idea of a desired future state that is easily understood by team members and customers.

A great vision, however, is not enough to ensure success. Now, the difficult work begins. As with any journey, the destination is just a point on the map; the journey itself will make the difference in how successfully and quickly you arrive at that destination. Thus, the strategic sourcing roadmap is crucial to moving your team from where it is today to where it wants and needs to be.

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ISM's Journal Makes Rapid Ascent to Top Management Journals

The Journal of Supply Chain Management is celebrating an exceptional impact factor announced in late September by Thomson Reuters ISI Web of KnowledgeSM. The Journal gained entry to the citation database of more than 10,000 research journals in 2010. In its premiere year on the Thomson-Reuters' Social Sciences Citation Index, the Journal garnered an impact factor of 5.853, placing it in the top two among 144 management journals.

The Journal publishes papers by thought-leaders and top scholars in the field of supply management, as well as related disciplines including marketing channels, strategic management, transaction cost economics, operations management and social network analysis. Journal papers published from 2008 and 2009 were used to calculate its 2010 impact factor (a measure of relative importance based on average number of citations).

Co-Editor-in-Chief Craig R. Carter, Ph.D., credits the strong engagement and dedication of the Journal's advisors, editors and reviewers. "The world-class composition of our boards, the authors who have published their work in JSCM, and the support of the broader supply chain management discipline contributed to this milestone," Carter says.

Co-Editor-in-Chief Lisa M. Ellram, Ph.D., C.P.M., says the stellar 2010 impact factor comes at a critical juncture for the publication and the profession, and inspires the current editors to continue shepherding the Journal along a path of excellence established by their predecessors. "The 'overnight success' of this Journal, which is now in its 47th year of publication — and in print for over 40 years — also reflects the growing recognition of the importance of supply chain management as a discipline and a field of academic study," Ellram says.

European Editor Lutz Kaufmann echoes Dr. Ellram's views on the Journal's legacy. "I am very proud to be the first European on the editorial team in the history of the Journal," Kaufmann says. "It is an honor for me to help in leading the Journal of Supply Chain Management, which was founded decades ago by the supply chain management visionary Hal Fearon at Arizona State University. We manage the Journal like a born global startup firmly rooted in its heritage."

Asian Co-Editor Xiande Zhao asserts that the Journal's 2010 impact factor of 5.853 indicates the publication is one of the most influential in the supply chain management field. "One reason for the Journal's exceptionally high impact factor is a focus on solid empirical research which contributes to the development of theories and influences industry practices in supply chain management," Zhao says. "I am sure the Journal will create an even greater impact in the future as we continue in this direction."

Wiley-Blackwell publishes the Journal of Supply Chain Management on behalf of ISM. Order a subscription directly from Wiley-Blackwell. Follow Wiley-Blackwell on Twitter @wb_business. Visit the Journal of Supply Chain Management website. And, follow JSCM on Twitter @JSCM_news.

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Feature Article: Leveraging RFID

From its first use as a wireless technology in aircraft near the end of World War II, radio frequency identification (RFID) has slowly evolved into an important technology that helps supply organizations in various industries manage their global supply chains with greater efficiency and visibility. RFID, which uses radio waves to retrieve data stored in small integrated circuits, has different applications for different industries, from inventory control, to traceability, to security. While RFID has hurdles to clear, it has made significant strides over the years, and its use throughout the supply chain will continue to grow.

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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: STORAGE EQUIPMENT MANUFACTURERS ASSOCIATION.

Definition: The SMA is a specialty group of the Material Handling Industry of America. Its mission includes development and advancement of standards and activities to advance the quality, safety and general fitness for intended use of industrial/storage equipment.

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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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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