Economic Growth to Continue in 2024

The U.S. economy will continue to softly expand for the rest of 2024, say the nation’s purchasing and supply executives in the Spring 2024 Semiannual Economic Forecast.

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Expectations for the remainder of 2024 are similar to those expressed in December 2023, despite continued inflation concerns and geopolitical uncertainty.

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Manufacturing Revenue to Increase

2.1%


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Supply Management News & Reports

Embracing tech-savvy talent: the future of procurement in an AI-driven world

May 20, 2024
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Procurement, an industry demanding constant adaptation, is undergoing a transformative shift propelled by advancing technologies. Today’s procurement professionals are tasked not only with mastering traditional practices but also with embracing cutting-edge technologies to drive efficiency and innovation in their roles. 

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Being certified by ISM, whether it's a CPSM or CPSD, is one of the most important decisions you will make.

Those four letters after your name carry a lot of weight in the global supply management field because ISM certification has been respected as the foundational benchmark by the profession for nearly 40 years.

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Upcoming Education

  • May-Aug

    02-13

    2024

    The ISM World all-access pass combines the best of both worlds. You get the in-person experience and the time to dedicate to networking, supplier discovery and the specific supply management breakout sessions you select to attend onsite. In addition, you get 90-day access following the conference to a library of the breakout sessions you may have missed or would like to watch again. It’s the ultimate package extending your conference education beyond the live event to maximize your value.
  • May

    22-23

    2024

    The session will help procurement and supply management professionals become familiar with terms, concepts and applications employed in the construction industry to build comfort in addressing and managing major high dollar and critical acquisitions for the organization. Construction, like Supply Management, has its own language and vocabulary. It’s hard to buy, manage or approve change orders in a contract if you do not understand what the contract is covering. Usually, we manage a large project by work packages which breaks the large project down into sequenced and costed activities. This session seeks to explain some of the major concepts, terminology and shows you how you can be more effective in purchasing a project which could dwarf a traditional inventory, equipment, services, raw materials and MRO expenditures combined on an annual spend. Many managers often bypass purchasing to manage a construction project; for a new plant, new office building, remodeling or mitigation effort from initial planning, pre-solicitation, acquisition and contract management assuming you are not technically degreed. (You need to be a sign off before the proposed project goes to the board for budget monies.) So, they give the project to the Architect and Engineering firm, or the General Contractor or the Prime Contractor to manage—none of whom are part of your company! It is estimated a construction project not managed by a Procurement or Supply Management Professional could encounter overruns as much as 7 to 11%. On a $50M project that could be as high as an additional $4-$5M in additional money. This session will provide you the skills and ability to do what you are the expert in: sourcing, qualification of contractors, developing the RFP, negotiation of the cost/price, delivery elements, review of the construction contract and managing the construction to a successful completion. 

    Online
    William D Agee JR, C.P.M.
  • May

    22

    2024

    In an era where environmental responsibility is no longer an option but a mandate, join us for a compelling webinar that sheds light on the pivotal shift in supply chain management.

    Many companies, though aware of their carbon footprint, have yet to measure the greenhouse gas emissions intricately embedded in their supply chains. With new legislation like the California carbon emissions mandate on the horizon, this practice will soon transition from voluntary to mandatory.

    Led by industry analyst Adrian Gonzalez, you will learn about:

    • The imminent challenges faced by companies in calculating and reporting greenhouse gas emissions across their supply chains
    • The journey from traditional tracking of shipments, orders, inventory, and assets in motion, to the imperative expansion of end-to-end supply chain visibility.
    • How the focus extends beyond logistics to encompass the often-overlooked Scope 3 emissions, providing a comprehensive understanding of the entire carbon footprint.
    • Key questions and insights stemming from a recent survey will be dissected, unraveling the current landscape and future expectations.

    ISM membership is not required to attend – all are welcome.

  • May

    23

    2024

    Join us for a candid discussion and behind-the-scenes look at the remarkable career journey of Susan Spence, a retired, prominent senior supply chain executive. Susan will share her personal highs and lows, offer invaluable insights and lessons learned throughout her distinguished career. From navigating challenges to seizing opportunities, Susan's story is one of resilience, determination, and success.

    Spence retired in 2023 from FedEx Corporation, where she served as Vice President, Sourcing, Procurement and Accounts Payable. She received the prestigious J. Shipman Gold Medal Award in 2020 and is the fifth woman to receive this honor since its inception in 1931, based on her efforts to advance the procurement and supply chain management profession.

    This webinar is a must-attend for women aspiring to excel in the field. Discover how Susan broke through barriers, carved her path to the top, and emerged as a respected leader in a male-dominated field. Gain practical advice, actionable strategies, and empowering recommendations tailored specifically for women in supply chain roles.

    ISM membership is not required to attend – all are welcome.

  • June

    05-06

    2024

    Are you ready to maximize your supplier performance and supply management negotiation skills? This supply management course will provide you with new knowledge on how to develop effective performance-based statements of work (SOW) to improve your performance with suppliers. Get strategic and practical insight into SOW that aren’t just theoretical but will result in more successful contracts. During the two-day intensive supply management training, you’ll explore specific tools and techniques and examine common mistakes – and, most importantly, learn how to avoid them. You will gain hands-on experience using actual case studies and Q&A sessions. If your organization seeks to maximize supplier performance and it is one of your functional responsibilities, you won’t want to miss this practical and applicable course.

    Online
    Brandon Hummons

Corporate Program

Increase the agility and broaden access to education, tools, research and more for your supply chain team. ISM offers programs for organizations to help provide a framework for continuous learning and access to valuable membership resources and products 24/7/365

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Joining the ISM community gets you access to education, tools, research, events as well as a network of peers who face and solve for some of the same challenges you encounter. Invest in your own professional agility.

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