ISM Greater Rhode Island Annual Report for the program year 2010-2011

Posted: Thursday, May 26th 2011 - 10:30 am

2011 has been an extremely busy and challenging year. Because we had learned that the PMARI’s name isn’t as widely known around our area as we thought and that the Institute for Supply Management is known; therefore, the Board of Directors had decided that for the good of the organization we should change our name Institute for Supply Management – Greater Rhode Island. This was put to a vote of the general membership at our regular February Open Forum meeting and the vote carried unanimously. We also decided that we have to start marketing ourselves rather aggressively through Chamber of Commerce and trade shows.

That change in name had to be approved by ISM in Tempe and their requirements to allow the use of their name in an affiliate’s name were very stringent. The process forced us to think and plan much more strategically. We had to develop three year Professional Development, Membership and Marketing plans as well as a three year budget. Many committee and Board meetings resulted in a “hammering out” of those strategic plans and all of the many other details that resulted in the ISM Board of Directors’ approval of our new name on August 14th.

That work continued with our attendance at the Greater Providence Chamber of Commerce’s Business Expo at the Convention Center last Spring and at World Trade Day in June and the “Supply Chain Summit” in August both at Bryant University. These efforts at marketing our organization with it’s new name are beginning to have some results.

This past March we had our most successful ever annual Supplier’s Night with APICS Providence members attending our meeting at Twelve Acres Restaurant in Smithfield. The 22 suppliers that were registered to exhibit at this event provides extra income to support our other programs. The only disappointment was the small number of ISM Greater Rhode Island members in attendance to view the exhibits.

In conjunction with supplier exhibits and dinner meeting presentation we had conducted a two hour “Logistics” mini-workshop earlier in the day which was attended by 14 people, some of which were non-ISM Greater Rhode Island members. That may well result in future memberships and certainly is gaining our organization some much needed notoriety.

Our membership numbers at the end of 2010-2011 program years stands at 130, (99 regular members, 10 Volume Discount members, 9 student members, 2 educational members, plus 10 honorary life members); however, we have a number of members that were unemployed at the beginning of 2011 and under ISM and PMARI rules these members have a dues waiver so that there is no revenue coming in from them. Students and Educational members (Professors) are also dues free. Declining membership, for whatever reason, remains the single largest challenge to this organization.

A 60 hour Certified Professional in Supply Management (CPSM) body of knowledge workshop with for registrants is currently in process and has resulted in three new members.. A shorter 30 hour “CPSM Bridge Exam” workshop for people already possessing a C.P.M. will start in early fall to be completed before the holidays. These efforts align with our stated Mission Statement.

The Golf Outing again had to be cancelled due to lack of registrations; however, we will try again this coming year. This is another necessary fund raising event. This year’s event is being held on August 26th and is being chaired by Paul LaFrance. Hopefully the economic downturn will have eased somewhat so that we can regain enough registrants to allow this event to go forward.

In 2008 the proceeds from this tournament allowed the organization to contribute $1,000 to St. Rita’s Food Bank to feed the hungry and also contributed an additional $1,000 to the monies that the Northeast Supply Management Group supplied for scholarships for our members and their children.

A slate of Officers and Directors, contained three new Directors, was proposed by the Nominating Committee. The slate will be duly elected and installed this evening. The meeting will then be turned over to the returning president, Craig Colson.

From all the officers and directors, committee chairs and volunteers, a thank you is extended to you, the members, for your commitment to our association, by your attendance at as many functions, meetings and special events as possible. Your attendance is vital to the continued growth of this association. Without you we are not able to grow, so please keep coming.

Mission statement

Institute for Supply Management (ISM) Greater Rhode Island provides the opportunity for professional growth in Supply Management through our programs, networking, education, job postings, certification training and other resources in affiliation with the Institute for Supply Management. The organization encourages the understanding of supply management concepts and strives to educate its members and leaders of the business community, government officials, and the public at large on supply management. The organization seeks to assist newly appointed supply management personnel to ensure that members understand the supply management concepts.

Financials

The checking account balance is: $ 907.95

The savings account balance is: $20,640.98

The portfolio balance is: $50,000.39

Total Cash Assets a/o $71,549.32

Outstanding Invoices -0-

Income: Member Dues: $21,157.69

Suppliers’ Night 5,390.00

CPSM Workshops 3,166.45

Other Income: 1,660.27

Total $31,374.41

Expenditures: ISM Dues $10,486.60

Member Meetings 7,043.69

CPSM Workshop 3,791.45

Insurance 1,929.00

Board Meetings 736.59

Committee Meetings 292.88

CPSD Pilot Testing Program 174.66

Marketing 1,573.85

Scholarship 1,500.00

Website/Internet 774.54

Phone 505.70

Other Expenses: 8,899.91

Total $37,708.87