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Wednesday, January 19, 2005
   

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90th Annual International Supply Management Conference and Educational Exhibit

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In This Issue...
  • Inside the January Issue of Inside Supply Management® -- Read more.
  • Impact of the Tsunami Tragedy in Asia -- Read more.
  • One on One Interview with Jill B. Bossi, C.P.M. -- Read more.
  • Federal Reserve Survey on Capital Spending -- Read more.
  • This Year's Learning Tracks for the Annual Conference -- Read more.
  • J. Shipman Award Nomination Deadline -- Read more.
  • Never Underestimate the Power of a World-Class Supply Management Network -- Read more.
  • Term of the Day -- Read more.
  • Calendar of Events for February -- Read more.
  • Contact Us -- Read more.

Inside the January Issue of Inside Supply Management®

Like death and taxes in our personal lives, risk is an integral and unavoidable element of life in business. Much of what is considered to be common practice in business can be viewed as responses to risk. In spite of everything that has been done in the past, risk still exists and it's a more complex concept than we have previously thought. Yet, risk and its components are not simply factors to be accepted and borne. Rather, they can be managed, reduced, and in some cases, their impacts eliminated by applying new approaches and drawing on certain fundamental principles for supply continuity planning. The January issue of Inside Supply Management® will explore:

  • The four key phases of supply continuity planning: awareness, prevention, remediation and knowledge management
  • What principles are contained within each phase
  • How to "think" about risk in terms of your firm's tolerance
  • A list of drivers that could be used to calculate risk for a given commodity or supply line

Also in January:

  • The relationships forged with your key suppliers are critical to gaining sustainable competitive advantages for your company. Learn how performance scorecards and strategic communication activities can help you successfully manage these partnerships.
  • Will economic growth continue in 2005? Supply management executives' expectations for the new year are revealed with the release of ISM's Semiannual Economic Forecast.
  • This month our continuing series on ISM's Principles of Social Responsibility focuses on the environment. Read how supply management organizations and their suppliers are finding ways to be environmentally responsible and still achieve cost savings.

To access the January issue of Inside Supply Management® click here.

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Impact of the Tsunami Tragedy in Asia

Have your operations or those of your supply chain been impacted by the tsunami tragedy in Asia? If so, Inside Supply Management® would like to speak with you about the steps you're taking to minimize disruption or assist suppliers.

Please contact Roberta Duffy, editor, at rduffy@ism.ws or 480-752-6276, ext. 3085.

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One on One Interview with Jill B. Bossi, C.P.M.

Each quarter the Journal of Supply Chain Management: A Global Review of Purchasing and Supply interviews an up and coming supply chain executive. The Fall 2004 issue of the Journal features an interview with Jill B. Bossi, C.P.M., senior vice president in supply chain management for Bank of America, headquartered in Charlotte, North Carolina. Bossi began her supply management career in California at Metro-Goldwyn-Mayer Studios as a junior buyer and then worked for a number of entertainment companies such as Lorimar, Turner and Sony Pictures Entertainment. She moved from entertainment into telecommunications, working at AirTouch and Verizon Wireless as their director of strategic sourcing. Bossi then moved into financial services as vice president of strategic sourcing and supply for Experian North America before accepting her new role at Bank of America.

Here's an excerpt from the interview:

The Journal of Supply Chain Management: What do you think is unique about the services industry supply chain?

Jill B. Bossi: There are many variations within the services industry and that is what makes it unique. What works in the hotel industry may not work in the financial services industry. In financial services, for example, what is most unique is the environment of laws and regulations in which supply management must work. That environment regulates everything we do. The same is true in the pharmaceutical industry where there are regulations around the way pharmaceuticals are produced and advertised. But that said, there are also many commonalities so that the process of procuring often is very similar across many different industries. We are all deciding what to buy, gathering and analyzing data, going out into the marketplace to find a solution, implementing control mechanisms to order products and services, and working with our customers to improve a situation. Another aspect of the services supply chain that I believe is unique is that the challenges are constantly changing. In manufacturing, many of the challenges are repetitive. But in the services industry, one year it may be a budget challenge, the next year it is a regulatory challenge.

The Journal: What are some of the specific challenges in the services supply chain?

Bossi: I think the biggest challenge faced by supply management is selling the value proposition. It is still a struggle for supply management in the services industry to convince our business partners that we bring value to the organization. The challenge is to convince our internal customers that by working together, we will bring value to the bottomline. In manufacturing, that is clearly understood because so much of the business is based on products. If a company is producing automobiles, the supply chain is there and working to make sure every element of that vehicle is at the optimum cost. In services, supply management is not there yet. Another challenge is that in most services industries, supply management does not have a mandate. Business units operate autonomously and as long as they are making their budget numbers, top management does not like to rock the boat.

To read the entire interview with Ms. Bossi click here.

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Federal Reserve Survey on Capital Spending

At the request of the office of the Federal Reserve, ISM is conducting a short survey on capital spending. It would be greatly appreciated if you could respond by January 26, 2005.

To take the short two-minute survey click here.

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This Year's Learning Tracks for the Annual Conference

"Start Your Legacy in 2005" Conference workshops are organized in five distinct learning tracks that represent main areas of supply management and general career development. The five Conference Tracks for the 2005 Annual Conference are:

  • Track 1: Supply Management: A Strategic Perspective
  • Track 2: Managing Supplier Relationships
  • Track 3: Effective Supply Manager Tools
  • Track 4: Professional Growth: The Key to Your Future
  • Track 5: Leading Practices and Proven Results

For more information about this year's Annual Conference, or to register click here.

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J. Shipman Award Nomination Deadline

The J. Shipman Gold Medal Award was created by the Purchasing Management Association of New York in 1931, and is presented to those individuals whose modest, unselfish, sincere, and persistent efforts have aided the advancement of the supply management field. Those chosen for the award have also assisted and guided members of the supply management profession in their endeavors.

The deadline for submitting your nomination is January 31, 2005.

For more information click here.

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Never Underestimate the Power of a World-Class Supply Management Network

ISM's 38th Annual Supply Management Program
March 7 - 11, 2005
Tempe, Arizona

Learn to leverage your power during these exciting sessions:

  • Social Responsibility and the Supply Chain: Developing and Sustaining a Value Culture
  • Supply Management and the Bottomline: Maximizing Supply's Contribution to Organizational Goals and Objectives
  • Developing an Effective Performance Management System: Aligning Metrics with Strategy
  • Developing and Implementing Supply Strategies in an Environment of Uncertainty: A Supply Strategy Simulation
  • Current Issues and Future Directions in Supply Management

This comprehensive program provides a framework to build a supply team that creates and delivers measurable value.

Who Should Attend
This program is designed for leaders of change in supply management. Those in decision-making positions related to purchasing, procurement, suppliers, supply management or supply chain management will most benefit from this program. Typically, participants have responsibilities for planning, managing or directing supply functions or processes in alignment with organizational goals and objectives.

Early registration ends February 7, 2005.

To register online click here, or call one of our customer service associates at 800/888-6276 or 480/752-6276, extension 401.

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Term of the Day

Today's ISM Term of the Day is: PAYMENT AUTHORIZATION.

Definition: A standard electronic authorization which is transmitted to an organization's Accounts Payable department.

A different Term of the Day is posted on the ISM Home Page (www.ism.ws) each day -- 7 days a week. The Term of the Day is taken from the Glossary of Key Supply Management Terms.

ISM members can access the online Members Only Glossary of Key Supply Management Terms 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 Glossary click here.

If you are not a member but would like membership information click here.

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Calendar of Events for February

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Contact Us

Questions/Comments? Contact RaeAnn Slaybaugh.

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