PRESIDENT’S MESSAGE Being a committee member is an excellent personal development activity. Yes, there is a time outlay but there is also a potential to learn many things. Effective committee participation brings together member viewpoints which might not otherwise be heard. As a committee member, you can help the Board create value for our members and achieve the affiliates strategic goals and directions in a tangible and measurable way. Benefits of being an ISM Saint Louis Committee member: Developing and implementing organization

strategic and operational plans Gain a greater understanding of budgeting and

financial management processes How to develop policy and procedure What is involved in planning, promoting and

managing events Exchange information and ideas with your peers Develop professional relationships and strengthen

your ties in the purchasing industry Establish contact with leading government and

industry decision-makers Build your knowledge of the industry through

contributing to the work of the committee Gain expertise in new areas or gather new ideas for

your current area Contribute to the success and visibility of your

company Plan and attend social, educational and networking

events ISM Saint Louis has always been a first class affiliate because of the dedicated board and Committee volunteers throughout its century long history. Please give some consideration of sharing your wealth of experience and knowledge by volunteering on one of the many committees’ dedicated to making this affiliate continue to be one of the best.

Thanks, Patrick

In this ISSUE:

Increasingly, Companies See Sustainability and Risk Management as Related Issues

How Demand Sensing Is Changing the Role of the Forecaster

Lean Leaders -- Do You Understand the Apparent Contradictions of Lean?

Talent: Developing the Retail Supply Chain’s Most Important Asset

Women in Supply Chain The Problem with Procurement

And in every issue: Logistics Snap Shot – from Ernie Goss ISM Job Bulletin Upcoming Events ISM St. Louis Affiliate Financials New Members!

Save the Date! Tue, Sep 24, 2013, 6:00 PM - 8:00 PM

Greenbriar Hills Country Club

The Power of Networking

CYD DODSON, V.P. of Career Services for Right Management

Cyd has over 20 years’ experience as an Executive Coach. She has provided career support to thousands of professionals in all industries. Cyd is a strong believer that active networking is the perfect complement to every career. Her presentation will encourage each participant to expand their relationships and knowledge to a wider circle of influence.

Increasingly, Companies See Sustainability and Risk Management as Related Issues

By: Ernst & Young LLP

Companies are increasingly connecting the dots between risk management and sustainability by

making sustainability issues more prominent on corporate agendas, says a study by Ernst &

Young LLP and GreenBiz. Driven by trends such as extreme weather events and risks to natural

resources, among other factors, the shift is evidenced by the increasing involvement in

sustainability-related issues of shareholders and the C-suite. At the same time, the study finds,

companies are not adequately aligning risk response to the scale of sustainability challenges.

Conducted in late 2012, the Ernst & Young LLP study is based on a comprehensive survey of sustainability leaders and explores developments in corporate sustainability programs. The “tone from the top” is key to heightened awareness and preparedness for sustainability risks. More than half of the companies surveyed indicated alignment on both mandated and voluntary sustainability disclosures. Engagement of the CEO and board are critical for achieving alignment with sustainability and financial efforts. The largest proportion of companies that reported total alignment with financial and sustainability reporting – 36 percent of companies – reported that both the CEO and board of directors are fully engaged. Of the above companies, 86 percent said sustainability was embedded in strategic planning and capital budgeting, 70 percent said their mission statement included social and environmental issues, and 68 percent said their organization regularly discussed sustainability-related risks and opportunities with investors and other stakeholders. These numbers represent a high level of engagement in our survey sample. Governments and multilateral institutions aren’t playing a key role in corporate sustainability agendas. Instead, respondents said consumers have significant influence on advancing sustainability on a global basis, with 61 percent citing them as a driver. Sustainability concerns now include increased risk and proximity of natural resource shortages. 51 percent said they anticipate their company’s core business objectives to be affected by natural resource shortages such as water, energy, forest products and rare earth minerals / metals, in the next three to five years. Water (76 percent) was ranked by survey participants as the number-one cause for concern among resources “most at risk.” Corporate risk response is not well paired to the scale of sustainability challenges. Even though 79 percent of respondents said sustainability risks were incorporated into their enterprise risk framework, only three in 10 companies said they had run scenario analyses, and 36 percent said they had no plans to do so.

Integrated reporting is slow to take hold. However, 43 percent said integrated reporting would be “extremely” or “very” helpful in such things as breaking down the silos, involving the CFO / finance team in sustainability-related initiatives and reporting, and validating the existence and importance of non-financial information reporting. Inquiries from investors and shareholders are on the rise. Half reported that they are receiving an increase in the number of sustainability-related inquiries from investors and shareholders over the past 12 months. The average proxy proposal received 21 percent of investors’ votes in 2011, up from 10 percent in 2005, reflecting a high level of interest and support.

“Across corporate America, executives are increasingly focusing more attention on the risks and opportunities around sustainability” said Steve Starbuck, Americas Leader, Climate Change and Sustainability Services, for the global Ernst & Young organization. “However, most companies still are not actively engaging in scenario planning, which means company awareness has not translated into the necessary preparedness that would minimize risk and maximize opportunities for their organization.” For the report, results were analyzed from 282 respondents from 17 industry sectors who are employed by companies generating revenue greater than $1bn. Approximately 85 percent of these respondents are based in the United States.

How Demand Sensing Is Changing the Role of the Forecaster The role of the forecaster is evolving, as companies gain access to greater amounts of valuable data. New information systems are a major factor behind the change. “Technology allows us to look at new signals differently,” says Rick Davis. “It moves us away from the typical forecaster, who’s taking a position against sometimes incomplete data, to [being] more of an analyst of what’s relevant – the demand stream he’s trying to protect.” Demand sensing is the discipline of determining what’s going on right now. It trumps reliance on past practice, wherein companies made decisions based solely on where they thought the business was heading. Today, says Davis, they have access to daily data from key retailers on specific products. As a result, “you’re always starting from a better position of knowledge than in the past.”

Gaining that level of intelligence is only the beginning. The planner needs to be able to respond to actual market conditions. A flexible supply chain allows companies to determine what has changed since the last forecast, where product needs to be now, and how to get it there. Companies should not expect to zero in on one number in the planning process that can serve all functions within the supply chain. “I believe that’s a bit of a myth,” says Davis. The real goal should be alignment among departments. “It’s important to have started from the same spot,” he adds. “It’s more of a snapshot in time.” “Any change that we make to the forecast should be because we have new news, or better information,” Davis says. “It goes back to the plan being grounded in fact, logic and reality.”

Lean Leaders -- Do You Understand the Apparent Contradictions of Lean?

By Lonnie Wilson

Concepts of lean are both counterintuitive and counter-cultural. If you want to be a lean leader, you must go back to the basics and make sure you have a clear understanding of lean. Only then are you able to teach others.

I have been openly critical of American management and leadership. In my last column, you read my thoughts on a new style of leadership I call lean leadership. It requires that leaders exhibit behaviors not always listed as the most important leadership/management skills in much of the literature and often not taught in the MBA programs of even the leading colleges and universities, and frequently not part of the management recognition and rewards programs in many companies. One such skill is the ability to teach. I don’t just mean teach the theory but teach the theory as well as the application of the lean tools. In this regard, I often get questions about teaching some of the lean tools. However, these questions often expose a lack of understanding of the very nature of the lean tools. In this column, I am going to address one such question that addresses the very nature of lean.

It is: Aren’t some of these lean skills incompatible? Contradictory or Not? Some lean tools, when compared one to the other, appear to be contradictory or incompatible in nature. For example: How do we standardize processes and yet teach our people to be creative? Standardization involves

rote repetition; creativity involves continual change. They appear to be an “either-or” or mutually exclusive proposition.

What about the concept that we are striving for perfection yet we have a high tolerance for mistakes that naturally accompany the process of experimentation?

What about the biggest contradiction? All of our efforts are focused on driving out variation, yet we are to promote a culture of continuous improvement that at its core requires continual change. No variation, yet continuously change? That concept challenges us all at some point in time.

This is one of the great barriers to lean implementation: Concepts of lean are both counterintuitive and counter-cultural. Hence, if you wish to be a lean leader, you must go back to the basics and make sure you have a clear understanding before you are able to teach others. That means you need to first understand how these concepts are not incompatible. In fact, they are more than compatible -- they also are complementary and synergistic. You need to go deeper than the commonplace definitions that are often culturally driven and not adequate to define the lean concepts. Frequently this deeper understanding comes about through a paradigm shift. And when you understand the shift needed, it is much easier to both understand and teach these concepts. Let’s go through one example to explain away the “seemingly incompatible” nature of these concepts and show how they are not only compatible but complementary as well.

Standardization Versus Creativity Standardization versus creativity typically is the first big “apparent contradiction” a lean leader has to deal with. While his subordinates clearly understand each of these concepts in isolation, the question is, “How do we do both without becoming schizophrenic?” Certainly, standardization and standard work are keystone elements to any lean initiative. And creativity is the heart and soul of the improvement process leading to continuous improvement, which is the most fundamental of lean principles. Yet on the surface, standardizing by getting folks to do the same thing in the same way hardly sounds like creativity. Conversely, creating and continually changing processes to find the best way and the best result sounds anything but standard. Both are needed, yet they on the surface they seem incompatible. Is there some way of viewing these two concepts that unlocks the seeming incompatibility? Is there a dimension we can look at to find the necessary link to create a synergism where both can co-exist without contradiction? Yes, there is. I believe the topic is excellence, specifically temporal excellence. By standardizing -- by doing process steps in exactly the same way, thereby driving out the debilitating aspects of variation -- we create excellence in the present. In addition, through the processes of standardization and standard work, we create a present-day situation that will give us great assurance the improvements we have made will be sustained into the future. Moreover, once a process is standardized and the variation driven to low levels, it is much easier to spot abnormalities and process-improvement ideas. Even without focusing on specific process changes, almost without exception, processes once standardized, will improve -- with no other external stimulus. This is the phenomenon of “improvement through repetition.” It is why football teams will practice the same play ad nauseum. Small elements of variation are driven out, and seemingly small and often unquantifiable technique improvements are achieved. Standardization is a commonplace, accepted and a recognized practice for athletic teams yet frequently it is called “dehumanizing” when applied to the process industries. Go figure. On the other hand, creativity is the key to process improvements and process excellence in the future. Through the creative process, starting with observation, we can improve all processes by driving out wastes and improving on value-added time. Creativity is the lifeblood of the improvement process and is the key to our long-term success.

Incompatible – or Compatible, Complementary and Synergistic? Standardization and creativity are incompatible only in that we cannot do both at the same time. Once we recognize that they are two different activities, with two different short-term results, to be done at different times…… but that fit together in a long-term plan to assure continuous improvement, there is no incompatibility. Both concepts can easily -- in fact both concepts MUST -- coexist to create, nurture and perpetuate a culture of continuous improvement.

The standardization process allows us to: define what the process “should be” doing. We call this the “normal state,” and hence we can now

see when the process has deteriorated and can now define that as the “abnormal state.” This is one of the links to the creative process.

achieve excellence in the short term, through both the standardization process and the process of “improvement through repetition.”

minimize the deterioration of a process.

The creative process then can be used to: problem solve when the “abnormal state” is made apparent. work on the process when deterioration is noted, restoring the process to its original condition. implement new ideas to make the process even more powerful and more robust. As you can see, both the process of standardization and the creative process are compatible and complementary. How about synergistic? If that is not obvious yet, let me give you the famous quote of Taichi Ohno: “Where there is no standard, there can be no kaizen.”

Why is This So Difficult to Teach? I have found that there are two problems in teaching these concepts. First is the lack of understanding of the concepts that we have addressed. Second, there is a commonly held belief that assembly line workers are doing these two things at the same time. Specifically, they are producing to takt, making 100% on spec product and meeting the shipping schedule. This is a highly exaggerated representation of reality. For the highly repetitive factory with workers producing to takt, there is seldom time in the operating cycle to produce the product yet execute process improvements at the same time. Most workers have their hands full keeping on-cycle. Once this myth is dispelled, all else falls in line. Workers need time to produce, and they need a separate time to get the creative juices flowing and come up with process improvements. My experience has been that in mature lean facilities, workers often will observe and even analyze (to some degree) process improvements that can be made even while they are producing. This only can work with highly standardized processes; otherwise, there is no “normal” to use as a comparison. These workers, in an open environment, will have the opportunity to discuss their process-improvement ideas with their co-workers, the group leader and even the support staff. Frequently this informal process will create interest and often catalyzes others to action. In an open, healthy culture, these workers will have some mechanism, such as quality circles, to get their ideas formally cultivated.

In Conclusion Teaching is a key behavior of the lean leader, and there is simply no substitute for being “lean competent.” In addition, many lean concepts appear to be incompatible and hence hard to teach. But for each one, once understood, the contradictions and incompatibilities disappear, and a new picture emerges. Then these concepts are both much easier to execute and much easier to teach. So, do you want to be a lean leader? A great start is to know your stuff and teach your stuff.

Talent: Developing the Retail Supply Chain’s Most

Important Asset By Brian Gibson

In the midst of a slow U.S. recovery, the prospects for expanding roles, widespread employment opportunities, and solid salary growth seems incomprehensible in most fields. Yet, this is the reality for today’s supply chain professionals. Peruse relevant industry reports and you will learn that supply chain management (SCM) is on an upward trajectory as a career field: • SCM has become a strategic weapon as companies need the ability to buy, make, and move products anywhere, anytime. Today’s chief supply chain officers oversee sourcing, manufacturing, and distribution, among other responsibilities, notes Kevin O’Marah. • SCM is cited as one of the hottest job areas by Fortune, the next big thing by Businessweek, and a top 50 career by US News and World Report. • The 29th annual salary survey in Logistics Management magazine found that 60 percent of supply chain professionals received salary increases last year, with an average raise of six percent. This newfound respect is great news for supply chain professionals and advocates who have toiled in the shadows for decades. However, we must remember that the spotlight burns bright. Greater attention generates high expectations. Added responsibilities require stronger, broader skills. Higher salaries demand tangible return on that investment. And, success increases the potential for talent poaching. To keep pace with the expanding role of SCM in retail organizations, leaders must focus directly on talent management. People are a supply chain’s most important asset and they need time and investment to thrive. Significant effort must be placed on identifying required skills, hiring the best candidates, developing their capabilities, and retaining their expertise. Retailers need to leverage their employees’ full capacity and maintain their capabilities just as any other supply chain asset. Here are the key steps that retailers need to take to build and maintain their SC talent pool, and the associated implications for individual supply chain professionals: Identify – When building a supply chain team, it is important to specify key roles for each position and articulate the relevant skills. While everyone needs fundamental communication, leadership, problem solving, and time management skills, each position has some unique requirements. Also, as SCM responsibilities and span of control increase, skills must shift from tactical and functional to strategic and cross-functional. Similarly, a Supply Chain Brain article suggests that individuals must advance from a master of individual disciplines to a master of orchestration over time. Hire – Knowing what you want in a candidate and actually finding the right people can be a frustrating task. A one size fits all recruiting process is a direct path to disaster. Organizations must tailor the hiring process to the position being filled. Hiring methods may range from college recruiting for entry-level positions to executive search firms for pursuing senior-level positions. It is important to explore all potential channels for finding the right talent to maximize the potential for hiring success. Experienced supply chain professionals who have supplemented their traditional areas of expertise with a broad base of business analytical skills, financial acumen, and cross-functional experience are well-positioned to garner leading roles with retailers.

Develop – Once onboard, it is essential to continually enhance the capabilities of supply chain team members. People cannot be expected to learn exclusively by observation and on the job training. Leading retailers recognize the value of high potential talent development programs, mentoring, special projects, and short term assignments outside SCM to challenge individuals and expand their skill sets. Individuals must take an active role in creating a personal development plan and seek out supply chain opportunities within the organization to increase their value. Finding the time and right opportunities for development are always challenging but particularly so for individuals in middle management roles, notes the 2011 Chief Supply Chain Officer Report. Retain – The worst thing a retail organization can do is train people to become supply chain leaders for its primary competitors. It’s critical to develop appropriate retention strategies to keep supply chain teams intact. It is not enough to give out occasional raises and pats on the back. People need meaningful work and appropriate opportunities for career progression. Forward thinking retailers invest in their team members’ skills and capabilities through advanced education and provide them with opportunities to collaborate with suppliers and store customers. Individuals must be patient and address the gaps in their current skill sets with the goal of becoming indispensable and highly promotable team players. In summary, supply chain talent management is a multi-faceted, dynamic, and challenging activity. Effective processes and strategies are needed to maximize the capabilities of a retailer’s supply chain team.

Making the Supply Chain a Better Career Path for Women By: SupplyChainBrain

Ann Drake, CEO of DSC Logistics and one of the few female chief executives in the logistics industry, discusses the supply chain as a career path for women and the goals of AWESOME (Achieving Womens’ Excellence in Supply Chain Operations, Management and Education), a new organization that she founded. There never has been a better time for women to enter the field of logistics and supply chain management, says Drake. “The kind of talent that is needed in the industry today is that of orchestrator – people who are able to pull together different pieces and teams to work across organizations and silos,” she says. “This is something that most women naturally do quite well.”

Despite this, the number of women in leading logistics roles is quite narrow, she observes. “Our industry

traditionally has been seen as a sort of rough-and-tumble world where brawn counted more than brains and

where things got done through good-old-boy networks rather than an open sharing of information,” she says.

One indication that this is slowly changing is an increase in the number of women students taking supply

chain courses at colleges and universities, says Drake. “But I still am concerned that our industry is missing

out on some really great talent.”

The Problem with Procurement

Back in 1983, in a Harvard Business Review article, Peter Kralijc called for the procurement function to take on a larger and more strategic role in managing the supply chain. Thirty years on, sales people in most large companies are still being trained in ways to actually bypass procurement folks in their customer companies. This is not evidence of people taking the function seriously. What went wrong? To find out, we conducted a survey with close to 200 procurement executives, in Asia and in Europe. We found pretty conclusively that procurement managers are their own worst enemy, both with external suppliers and within the company, with internal customers and other stakeholders. Let's begin with supplier relationships. Nearly half our respondents claim they spend time with suppliers asking them for updates on the markets and new business suggestions. This is not great, perhaps, but it certainly sounds encouraging. Poke a little deeper, though, and you'll find the picture looks less rosy. As the chart below shows, only about a third of managers are actually bringing any supplier intelligence into their organizations by advocating for suppliers and facilitating new connections for them, which is what you would expect someone managing the supply chain to do. Just 20% claim to be communicating business insights shared by those customers; only 17% could even tell us in what segment their supplier put their company. No wonder suppliers don't want to spend time with these folks.

Let's turn to what's going on inside the company. As the second graphic shows, many procurement managers are trying to demonstrate internally that they have strategic value. They're gathering intelligence systematically about the company's stakeholders and communicating their successes. But it isn't getting much further than that. Less than 30% of the time do we see procurement managers customizing value propositions for internal customers and stakeholders, tracking satisfaction levels and setting targets for satisfaction.

If this sample is representative, then we can hardly be surprised if many c-suiters think that procurement is a backwater. And we can hardly expect young high-flyers in most industries to see it as a career path of choice. Looking ahead, procurement managers will have to change the way they approach suppliers and

business peers; being a strategic business partner means so much more than negotiating a discount.

The August Logistics Market Snapshot

Some selected encouraging statistics: New automobile sales surged in June to a pace of 16 million annualized units, the strongest monthly activity

since 2007. The auto companies said overall sales in the United States grew 14% during July to 1.3 million vehicles. In July GM, Ford, and Chrysler experienced increases of 16%, 11%, and 11% year-over-year, respectively. (Source: Autodata Corporation)

General Motors has announced its intention to reduce material and logistics costs in North America by $1 billion by 2016. The company is planning to reduce costs by bringing suppliers closer to assembly plants, extending rail lines directly to its facilities.

Net absorption in the U.S. during Q2 2013 totaled +26.67 million square feet. Atlanta's was the second-highest in the U.S. with +3 million square feet. Absorption totaled more than +10.9 million square feet in the South alone. (Source: Cassidy Turley)

The trucking industry gained 6,300 jobs in July after posting a loss of 3,500 in June. The trucking workforce increased 0.45% over the previous month and increased 2.3% over the previous year. (Source: U.S. Bureau of Labor Statistics)

The unemployment rate in America decreased to 7.4% in July 2013 as there were 162,000 net new jobs. July's unemployment rate was the lowest since December 2008. (Source: US DOL)

And from Ernie Goss at a glance:

Regional index rises for the first time since March of this year. Approximately two-thirds of firms report no impact from federal spending sequestration. Inflationary pressures at the wholesale level rise sharply. Firms expect prices for products and services they buy to rise 4.6 percent over the next year. OMAHA, Neb. – The monthly Mid-America Business Conditions Index, a leading economic indicator for a nine-state region, rose for the first time since March. The index continues to indicate that growth for the fourth quarter of 2013 will be positive, but down from the first quarter of this year. Overall index: The Business Conditions Index, which ranges between 0 and 100, increased to 53.8 from July's 53.5. “As a result of strong exports and a very healthy farm economy, the Mid-America economy was expanding at a strong pace in the first quarter of this year. Our results point to positive growth for the final quarter of this year but at approximately half the rate of the first quarter. Both exports and farm income growth are down from earlier in the year,” said Ernie Goss, Ph.D., director of Creighton University’s Economic Forecasting Group and the Jack A. MacAllister Chair in Regional Economics. Employment: After moving below growth neutral for January, the region’s employment gauge has remained above 50.0 for the past seven months. The August reading declined to 52.8 from 55.3 in July. “Nondurable goods manufacturers, especially those tied to agriculture and international markets are cutting employment in the region. Job gains were registered for durable goods producers and value-added nonmanufacturing firms. On the other hand, nondurable goods firms, except for food processors, experienced slight job losses for the month,” said Goss.

Wholesale Prices: The prices-paid index, which tracks the cost of purchased raw materials and supplies, increased for the first time since February of this year. The wholesale inflation gauge climbed to 61.8 from 58.0 in July. "I am concerned that this may be the first signal that the period of benign inflation is over. Weakness in inflationary pressures has provided support for the Federal Reserve's record expansionary money policies including its $85 billion monthly bond buying program, quantitative easing 3 (QE3). I expect upturns in inflationary pressures and asset price bubbles to push the Fed to begin reducing or tapering QE3 at the next meeting of its interest rate setting committee (FOMC) at its Sept. 17-18 meetings. This will mean that interest rates will move somewhat higher in the weeks and months ahead,” said Goss. This month supply managers indicated that they expect the prices of products and services they buy to rise by 4.6 percent over the next year. This is up significantly from the 2 percent reported in April of this year. Confidence: Looking six months ahead, economic optimism, as captured by the August business confidence index, fell to 53.9 from July's 56.9. “International tensions and uncertainty surrounding implementation of health care reform pushed supply managers’ economic outlook lower for the month,” said Goss. In each of the last six months, supply managers were asked how the federal spending sequestration was affecting their company. “In the August survey, approximately two-thirds of supply managers indicated that the cuts have had no impact to date. Slightly less than one-third reported only modest impacts from sequestration. Only 1 percent of businesses reported significant impacts. Thus, the federal spending sequestration remains a non-event in terms of the regional economy,” said Goss. Inventories: After eight straight months of inventory gains, supply managers reported pullbacks in the level of raw materials and supplies to support future production. The August inventory index sank to 49.4 from 52.7 in July. “In anticipation of slower sales and growth in new orders, companies in our survey have, for the first time since November of last year, reduced inventory levels,” said Goss. In terms of sustainable purchasing, 77.5 percent of firms reported no change in their practices, 21.3 percent indicated an expansion and 1.2 percent detailed reduction in such programs. Trade: The new export orders index rose briskly to 56.2 from July's 50.0. The import index slumped to 49.3 from July's 53.6. “Slow regional growth weighed on purchases from abroad for the month. Even though the export reading was up significantly for the month, readings over the past several months have been trending lower as a result of slower global growth,” said Goss. Other components: Other components of the August Business Conditions Index were new orders at 56.8, up from July's 52.2; production or sales at 60.1, up from last month's 54.2; and delivery lead time at 50.0, down from 53.3 in July. The Creighton Economic Forecasting Group has conducted the monthly survey of supply managers in nine states since 1994 to produce leading economic indicators of the Mid-America economy. States included in the survey are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

Financial Highlights for Fiscal Year Ended June 30, 2013

By Max Merz III, CPSM, C.P.M., CPP, Director of Finance

It’s time to summarize and review our finances for the recently closed fiscal year.

As you can see, our Income exceeded our Expenses, for a Net Profit of $8,970. Budgeted profit for the fiscal year was $4,467. Education income and expenses were budgeted as break even, but actually provided about $4,000 net gain. Membership revenue was less than expected, but Administrative expenses were also lower than anticipated, resulting in the balance of observed profit. Our June 30 Balance Sheet changed considerably. Here is a comparison of the last two fiscal years.

Value Percent

2013 2012 Change Change

ASSETS Current Assets

Edward Jones 111,639.39

100,834.89

10,804.50 10.7%

US Bank Checking 62,938.46

64,991.93

(2,053.47) -3.2%

Total Current Assets 174,577.85

165,826.82 76.81 5.3%

TOTAL ASSETS 174,577.85

165,826.82 76.81 5.3%

LIABILITIES & EQUITY Equity

Market Value Adjustment (1,404.66)

(1,185.35)

(219.31) -18.5%

Opening Balance Equity 164,081.40

164,081.40 - 0.0%

Retained Earnings 2,930.77 2,367.93 562.84 23.8%

Net Income 8,970.34 562.84 8,407.50 1493.8%

Total Equity 174.577.85

165,826.82

8751.03 5.3%

TOTAL LIABILITIES & EQUITY

174,577.85

165,826.82

8751.03 5.3%

$35,153

$1,024

$5,450

Dues

Interest

Education

$0 $10,000 $20,000 $30,000 $40,000

Income $41,627

$14,794 $1,477 $1,911

$14,475

Attendance

Communications

$0 $5,000 $10,000 $15,000 $20,000

Expenses $32,657

Chapter investments at Edward Jones consist of six Certificates of Deposit, ranging in value from $10,000 to $12,000, with one maturing approximately every six months; and a Money Market account that held $35,000 at the beginning of the fiscal year. The Money Market was increased to $45,000 by transferring excess operating cash from the checking account at US Bank. The current financial plan is to reestablish the Money Market value at $35,000 by increasing the value of all CD’s to approximately $12,000 as they mature and new ones are purchased. As always, please direct questions or comments your Director of Finance at: finance@ismstlouis.org

NEW MEMBERS

Roger L Humphries Jr, PolyOne

Linda Nance

Don’t Forget

Tue, Sep 24, 2013 The Power of Networking

You earn 1 hour for general meeting And you will get hours for participation on the board!!!

Labor Day Facts: Did you know...?

Labor Day is celebrated for the contributions and achievements of the 155 million men and women who are in the U.S. Workforce. In the late 1800s, much like today, the average American worked 12-hour days and seven-day weeks to make a basic living. The year in which the 8-hour day was firmly established was 1916 with the passage of the Adamson Act. This was the first federal law regulating hours of workers in private companies. On June 28, 1894, Congress passed an act making the first Monday in September of each year a legal holiday in the District of Columbia and the territories.

Hope you enjoyed your Labor Day!

JOB OPPORTUNITIES

SENIOR PROCUREMENT SPECIALIST SIGMA ALDRICH, ST LOUIS, MO

Global Category Specialist Sigma Aldrich, St. Louis, MO

BUYER/SUPPLY MANAGEMENT ANALYST CITY OF KIRKWOOD

PURCHASING MANAGER

APACHE

AND, for a sneak peek into 2013 / 2014 scheduled events, visit our website!

www.ismstlouis.org

Get involved! For Volunteer Opportunities Contact our BOARD!

In many survey's the membership have spoken of how much they like more pre-dinner sessions. Volunteering to teach a session helps to accomplish this. When you volunteer your time to teach a class or facilitate a workshop, you get a chance to polish your public speaking skills, and you get a nice credit to add to your résumé. Volunteering allows you to meet people who have similar interests. You may make new friends of the same professional background or a different one all together. Or you may make contacts that become important in the future. There are a variety of opportunities to get involved in our affiliate. Sharing your knowledge of purchasing or logistics topics is of vital importance to grow others in our field and the professional and personal rewards are abundant. If you have a passion for any aspect of purchasing please consider sharing that passion with the other members of your profession.

BOARD OF DIRECTORS

Patrick Williamson C.P.M. President Term: 2013-14 president@ismstlouis.org Melissa L. Orlando, CPSM, C.P.M. President Elect Term: 2013-14 presidentelect@ismstlouis.org Dawn Fadler, CPSM, Vice President Term: 2013-14 vicepresident@ismstlouis.org Max Merz, CPSM, C.P.M. Director of Finance Term: 2012 -14 finance@ismstlouis.org

AFFILIATE DIRECTORS AND ADVISORS

Christine Wojak Director of Marketing Term: 2012 -14 marketing@ismstlouis.org Patricia Greathouse Director of Membership Term: 2012 -14 members@ismstlouis.org Paula J. Matousek Director of Professional Development Term: 2011 - 14 pro-d@ismstlouis.org Kimberly R. Butts, CPSM, C.P.M. Affiliate Advisor advisor2@ismstlouis.org Larry Jackson, CPSM, C.P.M. Immediate Past President pastpresident@ismstlouis.org