#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...]

#ISM2017: Twitter’s All Ears

The #ISM2017 hashtag got colorful use on Twitter during the second full day at the Annual Conference at Walt Disney World in Orlando, Florida. Attendees on Tuesday posted their thoughts on a compelling keynote address, saluted the recipient of the supply management profession's highest honor and took advantage of the extracurricular activities offered by the Conference site. David Cameron, … [Read more...]

#ISM2017: Magic Tweetdom

In time, we'll find out if the 2017 edition of ISM®'s Annual International Supply Management Conference is the biggest ever. However, if Monday's Twitter activity is of any indication, ISM2017 at Walt Disney World in Orlando, Florida, is on pace to shatter supply management social-media records. Inside Supply Management® asked Conference attendees, presenters and exhibitors to make liberal use … [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...]

Stop Calling End-Users ‘Customers’

By Chris McGraw “We have to serve our customers!” You hear it all around you. It sounds like you’re in the sales department. But you’re not. You’re in procurement. In procurement departments at companies of every size and in every industry, the word “customer” is often used to mean the internal stakeholders and end users of the materials and services being procured. “Customer” seems like a … [Read more...]

Supplier Diversity Essential Strategy at Arizona Utility

At Salt River Project (SRP), supplier diversity isn’t just a program, it’s an initiative. The Tempe, Arizona-based utility, which serves more than 1 million electric and water customers, looks at supplier diversity as an essential sourcing practice, says Patti Pyle, SRP’s manager of diversity. Her team raises awareness of the importance of including and using diverse suppliers by educating … [Read more...]

ISM’s Thomas W. Derry Offers Tips during Procurious Career Boot Camp

Procurious has launched a free digital career boot camp for procurement professionals. The 15-day event, which began September 19, features 15 five-minute training podcasts, including one by Thomas W. Derry, CEO at Institute for Supply Management®. During the series, participants will learn networking strategies to elevate their career, incubate big ideas on the job, build a personal scorecard … [Read more...]

Mentoring Is a Familiar Method for Transferring Knowledge

Mentoring programs are common among organizations across the globe. But the idea of mentoring as a method to transfer knowledge to others is nothing new, says Kathy Kram, R.C. Shipley Professor Emerita at Boston University’s Questrom School of Business. In the '80s and '90s, formal mentoring programs became very popular, says Kram, who has been working with organizations in all industries for … [Read more...]

Strategies When Contracting for SaaS Systems

Buying Everything as a Service ISM2016 session on Tuesday, May 17 Presenters: Mark Trowbridge, CPSM, C.P.M., MCIPS, principal, Strategic Procurement Solutions, and Pierre Mitchell, chief research officer and director, Spend Matters and Azul Partners. There are many choices when it comes to SaaS, PaaS and IaaS products, and contracts offered by providers can vary in coverage and fees, the … [Read more...]