Competitive Edge - Monthly E-Newsletter - Volume XXXIX - III

           "You must stick to your conviction, but be ready to abandon your assumptions."      
                                                                                                                Denis Waitley

November 2016 - In This Issue:
President's Message
James Martin
Dear Members:
I'm five months in for my term as your affiliate president and I am somewhat pleased with our progress to date.  In September, we opened our year with an on-line membership meeting featuring a presentation focusing on best practices in Contingent Workforce spending and benchmarking.  

Last month, we had our first in person meeting at the offices of Morgan Stanley where we learned how best to deliver our message to senior executives and how to improve our personal communication skills.  I would like to think of these at vital skills to improve on how we do our jobs and how best to add value.  I was also pleased to see so many members again.

This month we have another area often overlooked which can yield significant opportunities for savings.  It is our annual Sustainability and Social Responsibility meeting and once again, Citi will be our host.  Energy is something almost every company wastes and implementing simple steps to identify and reduce that waste always produces results.  I hope to see you there.
A topic which came to me recently was use of email.  Many of you rely on corporate email as your means of communication, perhaps even registering for events or getting updates from ISM-New York.  My advice - don't do it.  Use a personal email and make sure you have a copy of all your work contacts in a separate file.  Update it regularly and make sure you have access to it outside your workplace.  A recent colleague of mine found themselves without a job and totally without email support.  Keep the two separate and be prepared for the unwanted.
Lastly, I mentioned "somewhat pleased" with our progress at the beginning of this note.  I would like to see our membership renewal volumes increase and many more new members joining.  If you know someone who changed jobs or just drifted away please let us know so we can bring them back into the ISM-New York family.  I look forward to seeing you all at the membership meeting which is on November 30 th from  8AM to 10AM EST

Jim Martin
President, ISM - New York 
Vice President, Enterprise Spend Management - IT Sourcing and Contracts 
Financial Operations of the Americas / FMA
Upcoming Professional Development & Certification Review

Click the title for more information.
Download our new editable  Registration Form  and our   2016 - 2017 Professional Development Catalog

November 10th, 2016

November 17, 2016

with Bravo Solution

ISM-New York would like to congratulate the following members for earning their certification: Andrea Regina - CPSM
The Report on Business (ROB)

Click here to learn more about this month's ROB or go to the ISM New York's Facebook Page to listen to the podcast. 

 Annual Conference
      ISM - New York's              34th  Annual Conference            
 Thursday, March 16th 
 Executive Conference Center
1601 Broadway, New York
 9:00 A.M. - 4:00 P.M.


Get Involved!

Get engaged! We are seeking members to assist with planning member meetings, the ISM- New York Annual Conference and the Supplier DiversityEXPO & Member Member Meetings!

 Volunteer and develop your leadership skills, network and have some fun in the process.

ISM-New York is in need of volunteers to assist as photographers, social media gurus and support at meetings and events to name just a few categories.

If you are interested in volunteering email

 Get Recognized.
 Become an ISM-New York

 ISM -New York offers a variety of creative  sponsorship opportunities.
 For more information, contact 

November Member Meeting

Please join us for breakfast on   
Wednesday, November 30th from 8:30 AM  - 10:00 AM 
for our   
Annual Sustainability & Corporate Responsibility Breakfast.

"Energy Management Strategy, 
Energy Procurement & Sustainability"
presented by
Stephen King, President of Sales  & 
Scott Besada, Vice President - NYC

Agenda Highlights

Deregulation Overview
Green Initiatives
Grid Infrastructure Information
Why Use an Energy Consultant?
Energy Analytics

Click on the link below to learn about our presenters and
Premiere Energy Auctions 

Director, Sustainability and Corporate Responsibility
Issac Fang

  Dear ISM-NY members,

As we are going through another round of change in seasonal temperature, we are speculating how much to spend on heating bills for this winter. And as procurement professionals, it is time again looking into energy purchase opportunity.

Many of us are pretty familiar with traditional energy buying cycle, number of us have probably participated in hedging exercises trying to save a few bucks. But have we considered purchasing alternative power sources to create a more positive impact for the environment? And if we have, was there a long-term procurement strategy of green energy created? Or just a short-term purchase to offset carbon footprint?

The power purchase strategy varies from industry to industry, and from firm to firm. Certainly, it can cost more to be sustainable for now. But there are more cost effective methods that are available to implement a renewable energy purchase strategy than it was before.

Please join me on November 30th for an informative discussion on sustainable energy procurement and management strategy. I look forward to 
seeing you at the event.

With warm regards,
Issac Fang
Director of ISM NY Sustainability & Social Responsibility

Are you interested in learning more about Sustainability & Corporate Responsibility?
Sustainable energy procurement is just one tool in the professional sustainable toolkit. This year we'll be providing ISM-NY members with more information about how to identify sustainable procurement opportunities and exploit them to their benefit.  Watch this newsletter and the ISM-New York website for more information. Contact: &, to find out more information.
Focus On Supplier Diversity
The views expressed in this article do not represent those of the Federal Reserve Bank of New York or the Federal Reserve System.
Ownership and Accountability: Elements for Building an Effective Supplier Diversity Program -  Navin M. Persaud

 Over the past few years, supplier diversity has increasingly become an important focus among a large number of organizations in both the public and private sectors. 

Companies are applying these principles to their procurement practices not only as part of their corporate social responsibility goals, but equally important, to promote greater cost efficiency, innovation and growth into their operations.
But what are organizations doing to see to it that their programs are effectively including a more diverse population of vendors and that these efforts are delivering tangible benefits to them?
The Federal Reserve Bank of New York ("Bank") has long held supplier diversity as an important goal with respect to its ongoing procurement initiatives and remains committed to ensuring that all firms interested in and qualified to do business with it have the opportunity to do so. In an effort to foster supplier diversity in its acquisition activities, the Bank seeks to promote an environment that provides access and opportunity for minority and women-owned business enterprises seeking to do business with the Bank. Maria Frangelaki, Vice President, Procurement Value Management ("PVM") and the Bank's Chief Procurement Officer, noted, "While the Bank has always been proactive about including diverse suppliers into its acquisition initiatives, over the past 18 months we've  made a concerted effort to build further on our approach and add collective ownership and greater accountability to our process."
This has involved refining the Bank's supplier diversity strategy by moving from a single point of contact charged with all aspects of efforts relating to supplier diversity, 
to a model that extends responsibility 
across the entire procurement organization.

Making this shift has helped to incorporate supplier diversity into each procurement, allowing a broader group of vendors direct access to the Bank's strategic sourcing professionals and increased involvement of the procurement team in outreach activities.  

In addition, the Bank's strategic sourcing professionals host technical assistance forums focused on educating diverse suppliers on the Bank's acquisition process and more effectively connecting Bank business area representatives with anticipated need for the suppliers' specific products or services. The impact of these activities has been very positive in helping diverse suppliers become more effective in articulating their value proposition to the Bank's business area representatives and strategic sourcing staff as well as navigating the Bank's acquisition process.  
Since the implementation of this new strategy in 2015, the Bank has realized a significant increase in diverse supplier participation in every phase of the acquisition process. The number of qualified diverse suppliers identified by the Bank's PVM Function increased 41%. The total number of diverse suppliers invited to submit proposals increased 71%; the number of diverse suppliers who submitted proposals increased 43% over this same period. The contracts awarded to diverse suppliers increased by over 100%. The positive trend has continued in the first and second quarters of 2016.
In addition, to keep a finger on the pulse of trends in supplier diversity, the Bank's PVM team continues to develop strategic partnerships with supplier diversity business organizations such as the New York and New Jersey Minority Supplier Development Council (NYNJMSDC), the Women Presidents' Educational Organization (WPEO), the Institute for Supply Management's Diversity Committee, the Financial Services Roundtable for Supplier Diversity (FSR SD), and the National Minority Supplier Development Council (NMSDC).  PVM leverages these organizations to identify potential diverse suppliers, benchmark its supplier diversity efforts, and keep abreast of evolving best practices.
"Our goal in terms of the Bank's supplier diversity strategy is to extend beyond purely reporting diverse spend.  Our collective effort is geared toward partnering with a diverse population of suppliers who can provide entrepreneurial perspectives, innovative solutions, and value-added business propositions to successfully meet the Bank's acquisition needs" added Frangelaki.


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