Earlier this month, the Institute for Supply Management released its annual report, which detailed its financial performance over its most recently-concluded fiscal year. The report revealed that:
- “ISM realized gross revenues of $12,399,099.” This represents a 32% decline from two years ago.
- “ISM’s personnel budget was reduced by 30 percent over the past year” and ISM sustained a “nearly 20 percent reduction in headquarters staff”
- ISM’s expenses far exceeded its revenues “resulting in a negative net of $2,122,489 for the fiscal year.” This is the second year in a row that ISM had sustained a huge loss, as it had a negative net of $2,252,918 in its previous fiscal year.
- “As a result of the transition to a recertification-only program, the fiscal year proved to be very strong for Certified Purchasing Manager (C.P.M.) certifications.” With the C.P.M. exam no longer being available, this portion of ISM’s revenue will obviously not be available for future years. However, the annual report did not provide an estimate as to the degree of additional net shrinkage, if any, the institute would experience as a result in the immediate future.
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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