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Manufacturing Talk Radio is a weekly Talk Radio Podcast broadcast to manufacturers of all sizes across the globe. Show host, Lew Weiss, and co-host, Tim Grady, present breaking manufacturing news and tackle business trends and economic forecasts in manufacturing for small, medium and large manufacturers across the globe.

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Episode 316: The ISM Manufacturing AND Non-manufacturing Reports

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The ISM Manufacturing Report On Business

Hosts Lew Weiss and Tim Grady welcome Tim Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee with an unprecedented inside look at the ISM Manufacturing Report On Business for February 2019. Don’t miss this live report for a deep dive into the report and take a close look at the latest developments through the world of manufacturing.

The full report can be found at the bottom of this page.

The ISM Non-manufacturing Report On Business

LIVE at 12 Noon ET – Anthony Nieves, ISM committee chair on the Non-Manufacturing Report On Business joins Manufacturing Talk Radio host Tim Grady for a look inside the ISM Non-manufacturing Report On Business. Don’t miss this special LIVE broadcast only on Manufacturing Talk Radio.

The full report can be found at the bottom of this page.

February 2019 Manufacturing ISM® Report On Business®

PMI® at 54.2%

New Orders, Production, and Employment Growing

Supplier Deliveries Slowing at Slower Rate; Backlog Growing

Raw Materials Inventories Growing; Customers’ Inventories Too Low

Prices Decreasing; Exports and Imports Growing

(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 118th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The February PMI® registered 54.2 percent, an decrease of 2.4 percentage points from the January reading of 56.6 percent. The New Orders Index registered 55.5 percent, a decrease of 2.7 percentage points from the January reading of 58.2 percent. The Production Index registered 54.8 percent, 5.7-percentage point decrease compared to the January reading of 60.5 percent. The Employment Index registered 52.3 percent, a decrease of 3.2 percentage points from the January reading of 55.5 percent. The Supplier Deliveries Index registered 54.9 percent, a 1.3 percentage point decrease from the January reading of 56.2 percent. The Inventories Index registered 53.4 percent, an increase of 0.6 percentage point from the January reading of 52.8 percent. The Prices Index registered 49.4 percent, a 0.2-percentage point decrease from the January reading of 49.6 percent, indicating lower raw materials prices for the second straight month after nearly three years of increases.

“Comments from the panel reflect continued expanding business strength, supported by notable demand and output, although both were softer than the prior month. Demand expansion continued, with the New Orders Index reaching the mid-50s, the Customers’ Inventories Index scoring lower and remaining too low, and the Backlog of Orders returning to a low-50s expansion level. Consumption (production and employment) continued to expand but fell a combined 8.9 points from the previous month’s levels. Inputs — expressed as supplier deliveries, inventories and imports — stabilized at a mid-50s level and had a slight negative impact on the PMI®. Inputs continue to reflect an easing business environment, confirmed by Prices Index contraction.

“Exports continue to expand, at slightly stronger rates compared to January. The manufacturing sector continues to expand, but inputs and prices indicate easing of supply chain constraints,” says Fiore.

Of the 18 manufacturing industries, 16 reported growth in February, in the following order: Printing & Related Support Activities; Textile Mills; Computer & Electronic Products; Electrical Equipment, Appliances & Components; Fabricated Metal Products; Paper Products; Wood Products; Primary Metals; Chemical Products; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Petroleum & Coal Products; Transportation Equipment; Machinery; Furniture & Related Products; and Plastics & Rubber Products. The only industry reporting contraction in February is Nonmetallic Mineral Products.

MEET YOUR HOST

Lewis Weiss

Mr. Lewis Weiss is Host of Manufacturing Talk Radio and President of All Metals & Forge Group, the principal sponsor of the show. He has 60 years in the metals industry as a manufacturer of open die forgings and seamless rolled rings, running a business that sells forged products globally to OEMs, major manufacturers, mid-size first- and second-tier suppliers, and small metalworking companies. Lewis Weiss puts his experience in manufacturing to good use as an expert consultant on various TV and radio programs nationwide.


Tim Grady

Mr. Tim Grady is an Executive Producer and Co-host of Manufacturing Talk Radio. He brings more than 25 years of knowledge as a senior strategist and business advisor to companies of all sizes in more than thirty industries, advising them on revving up revenues, macro and micro marketing, strategic selling, organization optimization, website ergonomics, data mining, and other external or internal factors that can accelerate or impede business operations and net profit.


SPECIAL GUEST

Anthony Nieves and Tim Fiore

Anthony Nieves

Anthony Nieves is the Chief Executive Officer of a Home Health Agency – Five Star Home Health, Inc. As a leading home health care agency in Southern California, Five Star Home Health, Inc., provides comprehensive medical care and support for patients with chronic diseases and post-acute care needs. Nieves is also the Principal and Sole Managing Member of Riviera Hospitality, LLC – A 141 seat white tablecloth restaurant and lounge serving Italian and international fare. Additionally he is the Principal of Convergence Investments, LLC – a diverse investment strategy company with a concentration in the services sector. Included in this are supply management consulting, healthcare and hospitality management.

Nieves is also the former Chief Procurement Officer and Senior Vice President of Supply Management for Hilton Worldwide. Nieves and was responsible for end-to-end supply management services and solutions for all properties within the Hilton portfolio. A purchasing and supply management veteran for 25+ years, Nieves’ past experiences include wholesale distribution and full service restaurant management.

A recognized leader within the supply management and hospitality industries, Nieves is the 2010 recipient of the J. Shipman Gold Medal Award which is presented annually to an individual who has made a major contribution to the profession, to the Institute for Supply Management, and to his or her community. Contributions include leadership, influencing the positive recognition of the profession, publishing and teaching. It is the highest award that can be conferred by Institute for Supply Management (ISM).

Nieves serves as the chair for Non-Manufacturing Business Survey Committee for the Institute for Supply Management (ISM). In this role he facilitates the analysis for the monthly Non-Manufacturing Report on Business. He is the past chair of the board of directors for ISM and is the Chair Emeritus for the Purchasing Manager’s Executive Study Group of the National Restaurant Association (NRA). Nieves is the past chairperson of The Conference Board’s Purchasing and Supply Leadership Council. The council consists of 35+ chief procurement officers representing various fortune 500 companies. Additionally, he is a past Board Trustee for the Center for Advanced Procurement and Supply Research (CAPS Research), an independent global research organization.

Nieves holds the titles of Certified Professional in Supply Management (CPSM), Certified Purchasing Manager (C.P.M.) and Accredited Purchasing Practitioner (A.P.P.) through ISM and Certified Foodservice Purchasing Manager (CFPM) through the National Restaurant Association. Nieves is a frequent speaker to major national and international organizations Nieves earned a Bachelor of Science degree in hospitality, travel and tourism management from Florida International University.

 

Guest Tim Fiore

Timothy Fiore is Chair of the ISM Manufacturing Business Survey Committee. In that role, he is responsible for compiling, writing and releasing the ISM® Manufacturing Report On Business®, based on the survey results of a panel of supply management professionals across 18 different industry sectors. The Report On Business® is released on the first business day of each month, and features the world renowned PMI® Index as its key measure.

Prior to his current role, Fiore was the Chief Procurement Officer of ThyssenKrupp NA. He was responsible for developing and implementing ThyssenKrupp’s first consolidated North American supply management program initially addressing indirect and transportation cost, procurement processes, systems, tools and supply-chain employee development. His organization supported all of ThyssenKrupp’s operating companies in the United States, Canada and Mexico, as well as the company’s regional headquarters. Through collaboration, teamwork and deployment of effective competition among the TK Global, Regional and Business Area supply management organizations, ThyssenKrupp NA will realize the benefits of mass and scale in the Region.

In his position, Fiore drew on extensive experience in designing and optimizing supply chains, including serving as senior vice president of supply management at Terex Corporation and Celanese Corporation. He also was senior vice president of supply management and chief procurement officer at Ryder System, Inc. and president of Ryder Energy Distribution Company. Prior to joining Ryder, Fiore spent more than 20 years at United Technologies Corporation companies in a series of procurement and supply chain management capacities.

Fiore is the past Chair of the Board of Advisors of CAPS Research as well as a past board director for the Institute for Supply Management (ISM). He served on the Finance Committee as Chair and as a member of the Nominating Committee. He has been a member of The Conference Board’s Purchasing and Supply Leadership Council and a member of Howard University Business School’s Supply Chain Advisory Board. He also is an adviser to ISM affiliate ISM-Connecticut, Inc. and ISM Greater Boston and has been a jury member for the European Business School and Supply Management Institute’s professional development program. He is also a Richter Scholar Mentor.

Fiore holds a master’s in business administration with a technology focus and a master’s degree in management from Rensselaer Polytechnic Institute and a bachelor’s degree in history from the University of Massachusetts in Amherst.