The Monthly Metric: Net Promoter Score

This month’s edition of The Monthly Metric focuses on an analytic that is likely familiar to those in sales and marketing, and in recent years has become prevalent in supply management. It is a metric based on the business adage that “the customer is always right.” While many procurement benchmarks — such as inventory turnover ratio or on-time, in full (OTIF) delivery — are based on tangible, … [Read more...]

The Monthly Metric: Spend Under Management

This is the fourth installment of The Monthly Metric, and with ideas for supply management measurements to examine starting to come in, there should be interesting ground to cover in future editions. If there is a metric you would like to see us dive into, email me at dzeiger@instituteforsupplymanagement.org or contact us on Twitter: @ISM_Magazine. Here’s a recap of the series to this … [Read more...]

#ISM2017: Bitter-tweet Ending

As the ISM2017 Annual Conference in Orlando, Florida, wrapped up with a half-day of activity on Wednesday, some hearts and minds likely were already at one of Walt Disney World's theme parks. (Some attendees heeded Institute for Supply Management®'s recommendation and added a family vacation to their Conference experience.) However, bodies were still on-site, and participants showed a desire to … [Read more...]

The Monthly Metric: Inventory Turnover Ratio

This month’s installment of The Monthly Metric coincides with the latest offering from the #ISMMagContentCafe: “Supply Chain and Procurement Key Financial Performance Metrics,” by Paul Lee, Research & Analytics Director at Institute for Supply Management® (ISM®). Published in the INSIDE Metrics digital supplement in August 2014, the article details a survey of supply management leaders on the … [Read more...]

The Monthly Metric: SWOT Analysis

Welcome to the second installment of The Monthly Metric, where we examine a piece of data that can help supply management professionals do their job more efficiently. In our introductory post last month, we addressed how advanced analytics has taken over Major League Baseball, but is not as prominently used in procurement. This, according to survey results indicating that many supply management … [Read more...]

The Monthly Metric: Introduction

March seems to be a less-than-ideal month to start a project that involves seriously crunching numbers and exploring the science of supply management. After all, it’s spring break time, so who wants to go back to school, right? However, March is also when Major League Baseball teams are on the field for spring training, as the six weeks in Arizona and Florida prepare them for the 162-game grind … [Read more...]

Research Column Resources

"Transform Supplier Quality," the Research column in the March 2017 issue of Inside Supply Management® features a list of additional supplier-quality resources from Institute for Supply Management® and CAPS Research: Pharmaceutical Supply Chain in China: Challenges and Opportunities (PDF), CAPS Research: https://knowledge.capsresearch.org/publications/pdfs-protected/hu2010.pdf (available after … [Read more...]

Comparing War to Supply Management

By Chris Martus We’ve all heard the phrase, “Business is war.” It isn’t. But military battles have shown us that leaders and organizations that fail to properly cultivate supply chain capabilities or fail to plan effectively risk dramatic consequences that include: Over-extended supply lines. A few historical examples are Napoleon’s retreat from Russia in 1812, the British experience during … [Read more...]

Inside Supply Management’s Best of 2016

The end of business today marks the start of Institute for Supply Management®’s end-of-year close. With our office closed through January 2, leaving plenty of holiday time to relax and enjoy our families, we admit to feeling a little bit like children on the last day of school. But before departing, we would like to leave our own little bag of goodies — the best of Inside Supply Management® of … [Read more...]

How to Navigate Thorny Ethical Paths

By Chris Martus In science, the Anna Karenina principle is based on the opening sentence of Leo Tolstoy’s classic novel: “Happy families are all alike; every unhappy family is unhappy in its own way.” Meaning that in any situation with multiple dynamics, an optimal outcome can only be achieved if every factor is positive. In other words, if any factor is missing or inadequate, the entire system … [Read more...]