2nd Vice President's MessageGreetings!
We are now one month into 2016 and I would like to take a moment to reflect on recent events held by ISM-Phila. In December we held our 100th anniversary dinner event at the Pyramid Club. We experienced a fantastic networking event with our largest attendance this program year. Everyone was abuzz with all of the memorabilia and the chance to connect with new faces. In January we held our dinner event in King Prussia and I am please to state that we again experienced a sizable attendance, our 2nd largest of the program year...Read More
Welcome to ISM-PhiladelphiaOne of the nation’s largest and most active ISM affiliates!
ISM-Philadelphia has served the purchasing and supply management professionals of the Greater Philadelphia area since 1915. The local association is a not-for-profit professional educational association, affiliated with the Institute for Supply Management (ISM) and offers seminars and educational meeting programs designed to meet the needs of today’s supply management professionals. Read more...
Buying Behavior Study
Temple University is a partner of ISM-Philadelphia and is conducting a Buying Behavior Study for the Supply Chain Program. This survey was announced at our dinner meeting on Thursday, January 14th and we are seeking for your participation
Buyer supplier relationships are an important part of supply chain management. This research seeks to better understand the dynamics between you and your suppliers...Read More
New Corporate Sponsorship Program
Attention fellow members! Your Vendor Relations Committee is launching a new Corporate Sponsorship Program, providing vendors many ways to connect and engage with our members. Options include Dinner Meeting sponsors and Monthly Networking Event sponsors, plus Premium Video-Dinner Sponsorships on our ISM-Philadelphia training videos.
To learn more about our Corporate Sponsor Program, contact Allen Riddick or click here for more information.
Monthly Blog: Total Cost of OwnershipTotal Cost of Ownership: Why is it important in evaluating RFP Responses?
By Jim Moran. Second Vice President, ISM-Philadelphia, Inc and Strategic Sourcing Manager (Indirect) for Ricoh USA, Inc.
What is Total Cost of Ownership (TCO)?
Wikipedia defines Total Cost of Ownership (TCO) as a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs.
TCO encompasses all of the internal and external cost drivers that an organization will incur as a result of a decision to onboard a particular provider’s solution. It will not matter the solution, be it a Business Process Outsourcing engagement, a social media enhancement tool, a selection of products for Resale, a design for a customer engagement, installation at a customer site, etc. All of these and many other examples as well will contain both internal and external cost drivers that will, through financial analysis, enable you as the buyer to make an informed business decision on the best option to recommend to your senior leaders...Read More
Welcome New Members!Noah Cleary, Temple University
Kristen Rost, Temple University
Evan Radcliffe, Temple University
Eric Jung, Temple University
Scott Garret, FMC Corporation