630-005 availability - C.P.M. Module 1: Purchasing Process Updated: 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Exam Code: 630-005 C.P.M. Module 1: Purchasing Process availability January 2024 by Killexams.com team | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
630-005 C.P.M. Module 1: Purchasing Process Exam Specification: - Exam Name: 630-005 C.P.M. Module 1: Purchasing Process - Exam Code: 630-005 - Exam Duration: Varies (typically around 90-120 minutes) - Exam Format: Multiple-choice questions Course Outline: 1. Introduction to Purchasing - Understanding the role and importance of purchasing in an organization - Exploring the key objectives and responsibilities of the purchasing function - Examining the impact of effective purchasing on organizational performance 2. Purchasing Process Overview - Understanding the stages and components of the purchasing process - Exploring the various steps involved in purchasing goods and services - Identifying key considerations and best practices at each stage of the process 3. Sourcing and Supplier Selection - Conducting supplier market research and analysis - Developing supplier selection criteria and evaluating potential suppliers - Managing the supplier selection process and negotiating contracts 4. Purchase Order Processing - Creating and managing purchase orders - Coordinating with internal stakeholders and suppliers for order fulfillment - Tracking and managing purchase order status and delivery 5. Supplier Performance Management - Monitoring and evaluating supplier performance - Establishing supplier performance metrics and benchmarks - Implementing strategies to improve supplier performance and relationships 6. Legal and Ethical Considerations - Understanding legal and regulatory requirements in purchasing - Ensuring compliance with ethical standards and codes of conduct - Managing risks and mitigating legal and ethical issues in purchasing Exam Objectives: 1. Demonstrate understanding of the role and importance of purchasing in an organization. 2. Describe the stages and components of the purchasing process. 3. Apply best practices for sourcing and supplier selection. 4. Demonstrate proficiency in creating and managing purchase orders. 5. Implement strategies for supplier performance management. 6. Understand legal and ethical considerations in purchasing. Exam Syllabus: The exam syllabus covers the following topics (but is not limited to): - Introduction to Purchasing - Purchasing Process Overview - Sourcing and Supplier Selection - Purchase Order Processing - Supplier Performance Management - Legal and Ethical Considerations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C.P.M. Module 1: Purchasing Process ISM Purchasing availability | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other ISM exams630-005 C.P.M. Module 1: Purchasing Process630-006 C.P.M. Module 2: Supply Environment 630-007 C.P.M. Module 3: Value Enhancement Strategies 630-008 C.P.M. Module 4: Management CPSM Certified Professional in Supply Management (CPSM)(Foundation) CPSM1 Foundation of Supply Management | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ISM 630-005 C.P.M. Module 1: Purchasing Process https://killexams.com/pass4sure/exam-detail/630-005 Answer: B Question: 199 Which of the following would be used to resolve buyer/seller disputes related to global shipping and packaging? A. World Trade Organization (WTO) B. General Agreement on Tariffs and Trade (GATT) C. North American Free Trade Agreement (NAFTA) D. Convention on Contracts for the Sale of Goods (CISG) Answer: D Question: 200 Which of the following is likely to obligate to a fiduc iary responsibility? A. Power. B. Negotiation. C. Commitment. D. Functional authority. Answer: D Question: 201 For which of the following is credit card purchases the MOST appropriate? A. Periodic services. B. Commodity items. C. Low-dollar purchases. D. Low-volume purchases. Answer: C Question: 202 Which of the following would generally NOT be accepted methods of payment for goods acquired through international procurement? A. C.O.D. 61 B. Letters of credit. C. Payment after receipt and inspection. D. Payment upon receipt of documented evidence of shipment. Answer: A Question: 203 has placed an orde r that called for delivery to be F.O.B. Shipping Point, with Freight Allowed to Destination. On delivery the purchasing manager discovers that the material was damaged in transit. What should the purchasing manager do? A. File a claim with the transportation company for repair and replacement costs. B. Notify the supplier and request that it file the claim and reship the material. C. Have repairs made to the material and backcharge the supplier. D. Refuse to accept the shipment and reorder the material. Answer: A Question: 204 Which of the following BEST defines the concept of "sharp" buying practices? A. Negotiating with more than one supplier. B. Developing a supplier alliance for strategic materials. C. Misleading a supplier about the actual quantity that the buyer intends to purchase. D. Reporting verified information about a supplier's financial problems to management. Answer: C Question: 205 On which of the following do most state and local governments establish a supplier base? A. Bidders lists. B. Pre-bid conferences. C. Interactions between purchasing and the supplier. D. Interactions between the using department and the supplier. 62 Answer: A Question: 206 Which of the following is LEAST likely to result from a supplier dealing directly with several user departments within ? A. Confusion and uncertainty. B. Lower total acquisition costs. C. Bureaucratic problems for purchasing. D. Increased supplier knowledge about the organization. Answer: B Question: 207 Which piece of legislation is designed to prevent monopolies by outlawing discrimination in pricing due to conspiracies or combinations that act in restraint of trade? A. The Clayton Act. B. The False Claims Act. C. The Davis-Bacon Act. D. The Robinson-Patman Act. Answer: A Question: 208 has won a grant from the federa l government to construct and operate a standard weather observation station and equipment structure. On the basis of which of the following would the construction contract for the weather observation station and equipment structure be awarded? A. Letter of intent. B. Directors' decision. C. Competitive sealed bid. D. Competitive sealed proposal. E. Student design and build competition. Answer: C 63 Question: 209 You work as a buyer at . You have responsibility for the purchase of capital equipment. You receive an emergency call from the plant manager, requesting the purchase of a special generator that costs $100,000. The existing generator is old and causing problems, and the repair company can no longer guarantee future repairs. Normal leadtime for delivery of the special generator is 20 weeks. However, the plant manager has requested delivery of the new generator within 30 days. Which of the following should you do FIRST? A. Insist that the plant manager submit a properly approved and funded requisition for the new generator. B. Determine the current cost of the new generator and additional costs related to short-time-interval ordering, expediting, and premium transportation. C. Contact the repair company to determine the extent of the existing generator's problems before taking any action. D. Quickly contact potential suppliers to determine availability of the new generator. Answer: D 64 For More exams visit https://killexams.com/vendors-exam-list Kill your exam at First Attempt....Guaranteed! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The diffusion index includes the percent of positive responses plus one-half of those responding the same (considered positive). The resulting single index number is then seasonally adjusted to allow for the effects of repetitive intra-year variations resulting primarily from normal differences in weather conditions, various institutional arrangements, and differences attributable to non-moveable holidays. All seasonal adjustment factors are supplied by the U.S. Department of Commerce and are subject annually to relatively minor changes when conditions warrant them. The PMI is a composite index based on the seasonally adjusted diffusion indices for five of the indicators with varying weights: New Orders --30% Production --25% Employment --20% Supplier Deliveries --15% and Inventories -- 10%. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Manufacturing economic activity contracted for the 13th consecutive month in November, according to the Institute for Supply Management’s November 2023 manufacturing sector report. The Purchasing Manager’s Index registered 46.7%, unchanged from the previous month; this reading also indicates a contraction of the overall economy. “All of the five subindexes that directly factor into the Manufacturing PMI are in contraction territory, up from four in October,” says Timothy Fiore, chair of the ISM’s manufacturing business survey committee. The production index entered contraction territory, registering 1.9 points lower than October’s 50.4% reading. Anything lower than 50% represents contraction. The employment index also fell, registering 45.8% compared to the 46.8% figure from the previous month. Although remaining in contraction territory, the new orders index saw a 2.8-point increase with a reading of 48.3%. Three industries out of 17 reported growth in November: food, beverage & tobacco products; nonmetallic mineral products; and transportation equipment. In the comments of the survey, several respondents note the desire to reduce high inventory levels, some of which were caused by the auto strike. “Automotive sales still impacted by UAW strike. Still waiting for orders to come in, and we also need to work down inventory levels that increased during the strike period. This will most likely happen in December,” notes a respondent in the fabricated metal products industry. November ISM Services PMI advanced to 52.7, vs. 52.0 consensus, from 51.8 in October, signaling economic activity in the services sector saw a faster rate of expansion during the month. "The services sector had a slight uptick in growth in November, attributed to the increase in business activity and slight employment growth," said Anthony Nieves, chair of the Institute for Supply Management Services Business Survey Committee. "There is continuing concern about inflation, interest rates and geopolitical events. Rising labor costs and labor constraints remain employment-related challenges." The sector has grown in 41 of the last 42 months, with the lone contraction in December 2022. Prices: 58.3 vs. 58.6 prior. Employment: 50.7 vs. 50.2. Business Activity/Production: 55.1 vs. 54.1. New Orders: 55.5 vs. 55.5 Supplier Deliveries: 49.6 vs. 47.5. Fifteen industries registered growth in November. The strongest growth was seen in Agriculture, Forestry, Fishing & Hunting; Health Care & Social Assistance; Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Transportation & Warehousing; Retail Trade; and Utilities. The numbers: An ISM barometer of business conditions at service companies such as restaurants and hotels rebounded to 52.7% in November from a five-month low of 51.8% in the prior month. Economists polled by the Wall Street Journal had expected the index to rise to 52.4%. Numbers over 50% indicate expansion in the economy. The index has been above 50 for 11 straight months. Key details: Fifteen industries reported growth in November while three industries reported a decrease in activity. New orders in the service sector were 55.5% in November, unchanged from the prior month. Prices paid by services industry for inputs fell only slightly to a still-strong 58.3% in November from 58.6 in the prior month. The ISM service employment index rose to 50.7 from 50.2 in the prior month. A separate report from S&P Global reported that the service sector PMI rose to 50.8 in November from 50.6 in the prior month. This matched the “flash” November reading. What the ISM said: The buildup for the holiday season is not as robust as sometimes in the past but better than last year, said Anthony Nieves, head of the ISM services survey committee. Respondent in the transportation and warehousing said there was “solid activity heading into the final stretch of the fourth quarter.” What are they saying? “Employment growth in the U.S. economy has slowed consistently over the past year, but remains solid. The ongoing need to hire workers across U.S. service industries is one factor that will keep the Fed’s monetary policy in ‘higher for longer’ mode,” said Kurt Rankin, senior economist at PNC Financial Services. Market reaction: Stocks DJIA SPX opened lower on Tuesday while the 10-year Treasury yield BX:TMUBMUSD10Y was down to 4.20% in early morning trading. Key takeaways
Many investors know about reports that help the Federal Reserve shape interest rates. The most prominent is the U.S. Consumer Price Index (CPI), but not many investors know there are additional reports available. These reports don't get much news coverage, but they are just as important. The ISM Manufacturing Index is one such report. It offers a wealth of knowledge when it comes to the health of the manufacturing industry in the U.S. Let’s explore who generates this report, as well as the data it contains and what that signifies for inflation and the economy at large. What is the Institute for Supply Management?The Institute for Supply Management is the world's largest non-profit professional supply management organization. It was founded in 1915 and certifies, educates, and develops leaders for the supply chain industry. It also surveys purchasing managers and releases the ISM Manufacturing Index. What is the ISM Manufacturing Index?The ISM Manufacturing Index is a leading economic indicator for the level of economic activity in the manufacturing sector in the United States. This means the results of this report indicate or predict what will happen in the economy in the future. The stock market is another leading economic indicator. The market can rally if investors expect positive economic times ahead. On the other hand, it can sink into a bear market if they expect the economy to sour in the near term. There are also lagging indicators, which reveal trends in hindsight. These are reports that come out after the boom or bust cycle of the economy has begun. For example, the National Bureau of Economic Research will formally state the U.S. economy is in a recession a few months after the economy enters the recession. Overall, there are a handful of leading and lagging indicators that, when put together, give analysts a more complete picture of the economy's health. Are we moving in the right direction?The latest collection of data from the PMI from August 2022 are a mixed bag. On the positive front, the prices paid component of the ISM Manufacturing Index is moving sharply lower, which is a good sign. It points to a stronger balance between supply and demand, which benefits consumers by slowing the rise in prices. During the inflationary spikes in the 1970s and 1980s, a downturn in prices paid was a leading indicator of lower inflation rates. If the same holds true today, we might see an easing on the inflation front in the coming months. The negative side of the report’s findings is that factory growth remains slow and production has slowed. There is still a dark cloud looming over the outlook for the economy, and experts continue to debate whether the U.S. will end up in a recession. While the consumer continues to remain strong, businesses are being cautious. Gas pricesGas prices in the U.S. have dropped to an average of $3.677/gallon, a decline of more than 25% from their all-time high in mid-June; prices are at their lowest levels in six months. This is another good sign for both the consumer and the economy. As it becomes more affordable to drive, people can travel more and have more money to spend on things other than gas. However, the question is whether the low prices will last. While the fall driving season brings a cheaper blend of gas to manufacture, there will colder weather to deal with soon enough. Freight ratesGlobal container freight rates have hit a 16-month low, down 52% from their peak. This is still four times higher than pre-pandemic levels but moving in the right direction. For many months, demand outpaced supply as lockdowns and supply chain issues caused delays. Now that the supply of goods and demand for shipping them have evened out, prices have come down. The supply chain still has a long way to go to catch up to demand entirely, but signs indicate it is heading in the right direction. What indicators are investors watching?As an investor, what indicators should you pay attention to for clues to the economy's health? There are a few key indicators to look at, both leading indicators and lagging indicators. Pay attention to the stock market, retail sales, and manufacturing activity for leading indicators. While there are others, these three give you a good baseline on how the economy is doing. For lagging indicators, look at the U.S. Consumer Price Index, income and wages, and the unemployment rate. Again, there are others, but these will give you the clearest picture. The bottom lineUnderstanding the data that helps the Federal Reserve form an opinion about the economy's health is essential for investors. While it isn't foolproof, looking at leading indicators can help you review your investment plan and make necessary changes. When you’re ready to adjust your portfolio to current market conditions, Q.ai makes this task easy with its Investment Kits. Instead buying multiple funds, you can pick a single, diversified Investment Kit without spending hours researching individual stocks. Our artificial intelligence scours the markets for the best investments for all manner of risk tolerances and economic situations. Download Q.ai today for access to AI-powered investment strategies. When you deposit $100, we’ll add an additional $100 to your account. November ISM Manufacturing PMI was unchanged at 46.7, falling short of the 47.6 consensus and holding steady from October. The latest reading signals that manufacturing activity contracted for the 13th straight month after a 28-month period of expansion. "Companies are still managing outputs appropriately as order softness continues," said Timothy Fiore, chair of the Institute of Supply Management Manufacturing Business Survey Committee. Employment: 45.8 vs. 56.8 prior. Prices: 49.9 vs. 46.2 expected and 45.1 prior. New Orders: 48.3 vs. 45.5 prior. Production: 48.5 vs. 50.4 prior. Supplier Deliveries: 46.2 vs. 47.7 prior. Inventories: 44.8 vs. 43.3 prior. Of the six biggest manufacturing industries, two — Food, Beverage & Tobacco Products; and Transportation Equipment — posted growth in November, Fiore noted. Business Activity Index at 55.1%; New Orders Index at 55.5%; Employment Index at 50.7%; Supplier Deliveries Index at 49.6% TEMPE, Ariz., Dec. 5, 2023 /PRNewswire/ -- Economic activity in the services sector expanded in November for the 11th consecutive month as the Services PMI® registered 52.7 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 41 of the last 42 months, with the lone contraction in December 2022. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In November, the Services PMI® registered 52.7 percent, 0.9 percentage point higher than October's reading of 51.8 percent. The composite index indicated growth in November for the 11th consecutive month after a reading of 49.2 percent in December 2022, which was the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 55.1 percent; a 1-percentage point increase compared to the reading of 54.1 percent in October. The New Orders Index expanded in November for the 11th consecutive month after contracting in December for the first time since May 2020; the figure of 55.5 percent equals the October reading. "The Supplier Deliveries Index registered 49.6 percent, 2.1 percentage points higher than the 47.5 percent recorded in October. The index remained in contraction territory for the second consecutive month, indicating that supplier delivery performance was 'faster' in contrast to the 'slowing' status in September. In the last 10 months, the average reading of 48.1 percent (with a low of 45.8 in March) reflects the fastest supplier delivery performance since June 2009, when the index registered 46 percent. (Supplier Deliveries is the only ISM® Report On Business® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.) "The Prices Index registered 58.3 percent in November, a 0.3-percentage point decrease from the October reading of 58.6 percent. The Inventories Index returned to growth in November, registering 55.4 percent, an increase of 5.9 percentage points from October's figure of 49.5 percent. The Inventory Sentiment Index (62.2 percent, up 7.8 percentage points from October's reading of 54.4 percent) expanded for the seventh consecutive month. The Backlog of Orders Index contracted in November and registered 49.1 percent, a 1.8-percentage point decrease compared to the October reading of 50.9 percent. "Fifteen industries reported growth in November. The Services PMI®, by being above 50 percent for the 11th month after a single month of contraction and a prior 30-month period of expansion, continues to indicate sustained growth for the sector, and at a slightly faster rate in November." Nieves continues, "The services sector had a slight uptick in growth in November, attributed to the increase in business activity and slight employment growth. Respondents' comments vary by both company and industry. There is continuing concern about inflation, interest rates and geopolitical events. Rising labor costs and labor constraints remain employment-related challenges." INDUSTRY PERFORMANCE WHAT RESPONDENTS ARE SAYING
Services ISM® Report On Business® data is seasonally adjusted for the Business Activity, New Orders, Employment and Prices indexes. Manufacturing ISM® Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Inventories indexes. COMMODITIES REPORTED UP/DOWN IN PRICE, AND IN SHORT SUPPLY Commodities Up in Price Commodities Down in Price Commodities in Short Supply Note: The number of consecutive months the commodity is listed is indicated after each item. NOVEMBER 2023 SERVICES INDEX SUMMARIES Services PMI® A Services PMI® above 49.9 percent, over time, generally indicates an expansion of the overall economy. Therefore, the November Services PMI® indicates the overall economy is growing for the 11th consecutive month after one month of contraction in December 2022. Nieves says, "The past relationship between the Services PMI® and the overall economy indicates that the Services PMI® for November (52.7 percent) corresponds to a 1-percent increase in real gross domestic product (GDP) on an annualized basis." SERVICES PMI® HISTORY
Business Activity The 11 industries reporting an increase in business activity for the month of November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Health Care & Social Assistance; Arts, Entertainment & Recreation; Finance & Insurance; Transportation & Warehousing; Real Estate, Rental & Leasing; Management of Companies & Support Services; Utilities; Retail Trade; Public Administration; and Educational Services. The four industries reporting a decrease in business activity for the month of November are: Mining; Information; Construction; and Professional, Scientific & Technical Services.
New Orders The 11 industries reporting an increase in new orders for the month of November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Retail Trade; Transportation & Warehousing; Health Care & Social Assistance; Finance & Insurance; Public Administration; Management of Companies & Support Services; Construction; Educational Services; and Utilities. The two industries reporting a decrease in new orders for the month of November are: Information; and Professional, Scientific & Technical Services.
Employment The 10 industries reporting an increase in employment in November — listed in order — are: Arts, Entertainment & Recreation; Construction; Accommodation & Food Services; Agriculture, Forestry, Fishing & Hunting; Other Services; Utilities; Retail Trade; Wholesale Trade; Health Care & Social Assistance; and Professional, Scientific & Technical Services. The five industries reporting a decrease in employment in November are: Finance & Insurance; Mining; Information; Public Administration; and Educational Services.
Supplier Deliveries The six industries reporting slower deliveries in November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Utilities; Transportation & Warehousing; Educational Services; and Health Care & Social Assistance. The six industries reporting faster supplier deliveries for the month of November — listed in order — are: Information; Construction; Management of Companies & Support Services; Wholesale Trade; Finance & Insurance; and Professional, Scientific & Technical Services. Six industries reported no change in deliveries in November.
Inventories The eight industries reporting an increase in inventories in November — listed in order — are: Other Services; Public Administration; Real Estate, Rental & Leasing; Retail Trade; Agriculture, Forestry, Fishing & Hunting; Health Care & Social Assistance; Utilities; and Educational Services. The six industries reporting a decrease in inventories in November — listed in order — are: Mining; Information; Finance & Insurance; Management of Companies & Support Services; Transportation & Warehousing; and Wholesale Trade.
Prices Eleven services industries reported an increase in prices paid during the month of November, in the following order: Public Administration; Arts, Entertainment & Recreation; Educational Services; Agriculture, Forestry, Fishing & Hunting; Health Care & Social Assistance; Information; Wholesale Trade; Professional, Scientific & Technical Services; Utilities; Finance & Insurance; and Retail Trade. The three industries reporting a decrease in prices for November are: Mining; Accommodation & Food Services; and Transportation & Warehousing.
NOTE: Commodities reported as up in price and down in price are listed in the commodities section of this report. Backlog of Orders The four industries reporting an increase in order backlogs in November are: Finance & Insurance; Transportation & Warehousing; Utilities; and Public Administration. The five industries reporting a decrease in order backlogs in November are: Information; Wholesale Trade; Educational Services; Construction; and Professional, Scientific & Technical Services. Nine industries reported no change in backlogs in November.
New Export Orders The six industries reporting an increase in new export orders in November — listed in order — are: Educational Services; Mining; Wholesale Trade; Retail Trade; Information; and Professional, Scientific & Technical Services. The two industries reporting a decrease in new export orders in November are: Utilities; and Transportation & Warehousing. Ten industries reported no change in new export orders in November.
Imports The six industries reporting an increase in imports for the month of November — listed in order — are: Retail Trade; Educational Services; Construction; Management of Companies & Support Services; Professional, Scientific & Technical Services; and Health Care & Social Assistance. The only industry to report a decrease in imports in November is Wholesale Trade. Eleven industries reported no change in imports in November.
Inventory Sentiment The 11 industries reporting sentiment that their inventories were too high in November — listed in order — are: Arts, Entertainment & Recreation; Real Estate, Rental & Leasing; Mining; Other Services; Wholesale Trade; Construction; Utilities; Educational Services; Information; Health Care & Social Assistance; and Public Administration. The three industries reporting a feeling that their inventories were too low in November are: Transportation & Warehousing; Management of Companies & Support Services; and Professional, Scientific & Technical Services.
About This Report The data presented herein is obtained from a survey of supply executives in the services sector based on information they have collected within their respective organizations. ISM® makes no representation, other than that stated within this release, regarding the individual company data collection procedures. The data should be compared to all other economic data sources when used in decision-making. Data and Method of Presentation Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries), this report shows the percentage reporting each response and the diffusion index. Responses represent raw data and are never changed. Data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. All seasonal adjustment factors are subject annually to relatively minor changes when conditions warrant them. The remaining indexes have not indicated significant seasonality. The Services PMI® is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. An index reading above 50 percent indicates that the services economy is generally expanding; below 50 percent indicates that it is generally declining. Supplier Deliveries is an exception. A Supplier Deliveries Index above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries. A Services PMI® above 49.9 percent, over time, indicates that the overall economy, or gross domestic product (GDP), is generally expanding; below 49.9 percent, it is generally declining. The distance from 50 percent or 49.9 percent is indicative of the strength of the expansion or decline. The Services ISM® Report On Business® survey is sent out to Services Business Survey Committee respondents the first part of each month. Respondents are asked to ONLY report on U.S. operations for the current month. ISM® receives survey responses throughout most of any given month, with the majority of respondents generally waiting until late in the month to submit responses to give the most accurate picture of current business activity. ISM® then compiles the report for release on the third business day of the following month. The industries reporting growth, as indicated in the Services ISM® Report On Business® monthly report, are listed in the order of most growth to least growth. For the industries reporting contraction or decreases, those are listed in the order of the highest level of contraction/decrease to the least level of contraction/decrease. ISM ROB Content Except as explicitly and expressly permitted by ISM, you are strictly prohibited from creating works or materials (including, but not limited to: tables, charts, data streams, time-series variables, fonts, icons, link buttons, wallpaper, desktop themes, online postcards, montages, mashups and similar videos, greeting cards, and unlicensed merchandise) that derive from or are based on the ISM ROB Content. This prohibition applies regardless of whether the derivative works or materials are sold, bartered, or given away. You shall not either directly or through the use of any device, software, internet site, web-based service, or other means remove, alter, bypass, avoid, interfere with, or circumvent any copyright, trademark, or other proprietary notices marked on the Content or any digital rights management mechanism, device, or other content protection or access control measure associated with the Content including geo-filtering mechanisms. Without prior written authorization from ISM, you shall not build a business utilizing the Content, whether or not for profit. You shall not create, recreate, distribute, incorporate in other work, or advertise an index of any portion of the Content unless you receive prior written authorization from ISM. Requests for permission to reproduce or distribute ISM ROB Content can be made by contacting in writing at: ISM Research, Institute for Supply Management, 309 W. Elliot Road, Suite 113, Tempe, AZ 85284-1556, or by emailing kcahill@ismworld.org; subject: Content Request. ISM shall not have any liability, duty, or obligation for or relating to the ISM ROB Content or other information contained herein, any errors, inaccuracies, omissions or delays in providing any ISM ROB Content, or for any actions taken in reliance thereon. In no event shall ISM be liable for any special, incidental, or consequential damages, arising out of the use of the ISM ROB. Report On Business®, Manufacturing PMI®, Services PMI®, and Hospital PMI® are registered trademarks of Institute for Supply Management®. Institute for Supply Management® and ISM® are registered trademarks of Institute for Supply Management, Inc. About Institute for Supply Management® The full text version of the Services ISM® Report On Business® is posted on ISM®'s website at www.ismrob.org on the third business day* of every month after 10:00 a.m. ET. The one exception is in January, the report is released on the fourth business day of the month. The next Services ISM® Report On Business® featuring December 2023 data will be released at 10:00 a.m. ET on Friday, January 5, 2024. *Unless the New York Stock Exchange is closed.
View original content to download multimedia:https://www.prnewswire.com/news-releases/services-pmi-at-52-7-november-2023-services-ism-report-on-business-302004936.html SOURCE Institute for Supply Management If you want to wirelessly communicate between devices, WiFi and Bluetooth are obvious choices. But there’s also the ISM (industrial, scientific, and medical) band that you use. There are inexpensive modules like the SX1278 that can handle this for you using LoRa modulation, but they haven’t been handy to use with an Arduino. [Jan] noticed the same thing and set out to build a shield that allowed an Arduino to communicate using LoRa. You can find the design data on GitHub. [Jan] calls it the LoRenz shield. According to [Jan], the boards cost about $20 to $30 each to make, and most of that cost was in having PC boards shipped. LoRa lets you trade data rate for bandwidth, but typical data rates are fairly modest. As for range, that depends on a lot of factors, too, but we’ve seen ranges quoted in terms of miles. Depending on where you live, there may be legal restrictions on how you use a radio like the SX1278. You should understand your local laws before you buy into using the ISM bands. We aren’t sure it would be wise, but the board can coexist with three other similar shields. So you could get 4 radios going on one Arduino if you had too and could manage the power, RF, and other issues involved. The breakout board the module uses has an antenna connector, so depending on your local laws, you could get a good bit of range out of one of these. [Jan] promises a post on the library that makes it all work shortly, but you can find the code on GitHub now. If you look at the code in the examples directory, it seems pretty easy. You’d have to sling some software, but the SX1278 can support other modes in addition to LoRA including FSK and other data modulation techniques. We’ve seen other LoRa shields, but not many. If you are interested in other wireless technologies, we’ve talked about them quite a bit. If you want a basic introduction to LoRa, [Andreas Spiess’] video below is a good place to start. Finalists represent outstanding programs and initiatives across 11 categories TEMPE, Ariz., Dec. 20, 2023 /PRNewswire/ -- Institute for Supply Management® announced its finalist shortlist for the ISM Supply Chain Trailblazer Awards, which recognizes organizational programs, teams and initiatives that set new standards, exceed expectations, and help notably advance the supply chain management profession. "While it has been a challenging time for many in supply chain and procurement, it has also brought forward incredible innovation and opportunities," said ISM Chief Product Officer Susan Marty. "We're excited to celebrate these award-winning organizations and to shine a light on their team's accomplishments." The awards focus on key areas in which supply chain management adds value and makes a difference to companies. The categories and corresponding 2023 shortlist organizations are noted below. Advanced Technology Digital Impact – How an organization has solved for a challenge leveraging advanced digital technology (ML, AI, RPA, IoT, blockchain, etc.) across the function or broader business enterprise.
Category Management Excellence – How an organization has solved for a challenge leveraging strategic category management and demonstrating excellence. Data and Analytics Initiative – How an organization has solved for a challenge leveraging data and analytics across the function or broader business enterprise.
Diversity Champion — How an organization has advanced diversity within its company and the profession, and the impact this has made on its talent base and/or supply base/partners.
Innovation — How an organization has used innovative practices to create opportunities, accelerate revenue, reduce costs, add value, create a competitive advantage, or solve a pervasive issue. Procurement Solution Provider Impact – How a solution provider solves problems or provides notable opportunities for clients, based on specific client case studies. Risk Management and Resilience — How a supply chain organization has managed, mitigated and/or resolved risk issues, disruption, or crises. Supply Chain Consultancy Project – How an advisory firm solved a problem or provided a notable opportunity on behalf of or in partnership with a client. Sustainability Commitment — How an organization has demonstrated its commitment to some or all of ISM's 11 Principles of Sustainability and Social Responsibility and/or Environmental, Social, Governance (ESG) standards, the process for doing so and the results that were achieved. Talent Management Excellence – How an organization has demonstrated talent management excellence within their respective team(s).
Transformation — How an organization has transformed its supply management/procurement function and the impact this has created.
Winners will be announced and celebrated at an awards gala and ceremony on Monday, April 29, 2024, in Las Vegas. The gala celebration will be held alongside ISM World 2024 Annual Conference. The 2023 ISM Supply Chain Trailblazer Awards were open to global organizations of any size and industry. Organizations could submit to one or more categories; entries explain initiatives, strategies and accomplishments that were implemented and/or begun in the prior 12 months. A panel of executive judges reviewed the submissions and ranked each against set criteria assessing process, initiative, commitment, impact, influence, and outcomes or achievements. For more information about the awards program, winners and to register to attend the awards gala in April 2024, visit ismworld.org/trailblazer-awards. About Institute for Supply Management® Institute for Supply Management® (ISM®) is the first and leading not-for-profit professional supply management organization worldwide. Its community of more than 50,000 in more than 100 countries around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM is committed to advancing the practice of supply management to drive value and competitive advantage for its members, contributing to a prosperous and sustainable world. ISM empowers and leads the profession through the ISM Report On Business®, its highly-regarded certification and training programs, corporate services, events and the ISM Supply Chain Capability Model™. The ISM Report On Business®, Manufacturing, Services and Hospital, are three of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. For more information, please visit: www.ismworld.org. Contact: Jessica Boyd, 480.752.6276, ext. 3085 View original content to download multimedia:https://www.prnewswire.com/news-releases/ism-announces-shortlist-for-2023-supply-chain-trailblazer-awards-302020300.html SOURCE Institute for Supply Management | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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