EMERYVILLE, Calif. — October 2, 2020 — Bolt Threads, a biotechnology company creating the next generation of advanced materials, today announced the creation of an unprecedented consortium with iconic global companies who have secured exclusive access to its innovative material, Mylo™. Made from infinitely renewable mycelium, Mylo looks and feels like leather; brand partners will begin bringing products featuring Mylo to market in 2021. The Mylo consortium marks a major milestone in the industry, as global companies come together to invest in material innovation and creative solutions to reduce our environmental impact.

The consortium is the largest joint development agreement in consumer biomaterials to date, marrying deep science and high design.

“We are thrilled to be working with partners who recognize that we are in a race to develop sustainable solutions to conventional technologies,” said Bolt Threads CEO Dan Widmaier. “They are joining forces, and investing in a solution that can scale: Mylo. The consortium unites four iconic and forward-thinking companies — adidas, Kering, lululemon, and Stella McCartney — who collectively represent hundreds of millions of square feet of potential demand for Mylo. Most importantly, this is an ongoing commitment to develop materials and products for a more sustainable future.”

“I have always been convinced that innovation is key to addressing the sustainability challenge that Luxury is facing. Finding innovative, alternative materials and fabrics can potentially drastically reduce the environmental impact of our industry over the long term. This is why Kering is actively looking for innovations in this field and it’s why we became an early supporter of Bolt Threads. Mylo is one of the very promising solutions that we have identified,” said François-Henri Pinault, chairman & CEO, Kering.

“Many people associate leather with luxury but since the beginning I always wanted to approach things in a different way because killing animals for the sake of fashion is quite simply not acceptable. Working so closely with Bolt Threads since 2017 has been a career changing experience and I cannot wait to launch Mylo products to market in 2021,” said Stella McCartney, founder and Creative Director.

Consortium partners were drawn to Mylo because of its remarkable resemblance to soft, supple leather. Mylo can be used like animal or synthetic leather and can take on any color, finish or emboss. The first Mylo products will be available for purchase in stores and online starting in 2021.

“For too long the industry standard has categorized materials as either natural or highly functional – but not both. The way to remedy this is to innovate responsibly with solutions that challenge the status quo, and products that use the best of what nature has spent millions of years perfecting — like Mylo — are critical to that,” said James Carnes, vice president, Global Brand Strategy at adidas. “We hope this inspires others to join forces, as a more sustainable future is something that no brand can create alone.”

“At lululemon, we are committed to making products and operating our business in an innovative, sustainable way for our guests. The Mylo consortium demonstrates how leading global brands can collaborate across industries to be part of a lasting solution to restore a healthy environment. We firmly believe that innovation and sustainability are key to the future of retail,” said Sun Choe, chief product officer, lululemon.

The process of finding the right brand partners was highly selective, based on mission alignment and a demonstrated commitment to sustainability. The four selected companies appreciate that Mylo is developed from the ground up with environmental impact at the forefront. For the Mylo consortium partners, this is more than a marketing story as they are investing in science and research to make sure the material is truly better for the planet.

More on Mylo: High-Tech Science + Low Environmental Impact

Mylo is everything you love about leather without everything you (and the planet) don’t. Made from infinitely renewable mycelium — the branching underground structure of mushrooms — Mylo is created using a highly efficient grow process that is intentionally designed to be low impact — taking less than two weeks to grow, emitting fewer greenhouse gases and using less water and resources than animal leather.

Posted October 5, 2020

Source: BOLT THREADS

MÖNCHENGLADBACH, Germany — October 5, 2020 — During the Innovate Textile & Apparel (ITA) virtual textile machinery show which will run from October 15-30, 2020, Monforts will be emphazising its leadership position in three key fields — advanced coating, denim finishing and fabric sanforizing.

With its multi-head capability, the latest Monforts texCoat coating system provides the flexibility the market is looking for, with an unprecedented range of options and a wide range of modules available.

Refinements

“Since we acquired the coating technology that our systems are based on we have made a lot of refinements and all of them are reflected in higher coating accuracy and the resulting quality of the treated fabrics,” says Monforts Head of Technical Textiles, Jürgen Hanel. “We are the only manufacturer to offer completely integrated coating lines from a single source and the coating machine is tailored to the subsequent Monforts drying technology — with all the benefits resulting from fully integrated plc control.

“Our systems have the shortest fabric path from the coating unit into the stenter and we have all variations of coating application systems too – and all of these options are available in wider widths, with the engineering and manufacturing from a single source here in Europe.”

CYD

Denim finishing is meanwhile a field in which Monforts has an undisputed lead and it has been working closely with its many partners in the key denim manufacturing countries of Bangladesh, Brazil, China, India, Mexico Pakistan and Turkey to develop advanced solutions.

The latest of these is the CYD yarn dyeing system.

“CYD is based on the proven Econtrol® dyeing system for fabrics*,” explained Monforts Head of Denim Hans Wroblowski. “It integrates new functions and processes into the weaving preparatory processes — spinning, direct beaming, warping and assembly beaming, followed by sizing and dyeing — in order to increase quality, flexibility, economic viability and productivity. The CYD system has been developed in response to a very strong market demand.”

Pre-shrinking

Monforts has also recently delivered a significant number of its latest Monfortex sanforizing lines to customers around the world.

Sanforizing is vital to final fabric quality, pre-shrinking it by compressing prior to washing, to limit any residual or further shrinkage in a made-up finished garment to less than 1%, for perfect comfort and fit over an extended lifetime.

As with industry-leading Montex stenters, Monfortex lines benefit from the latest Qualitex 800 control system which allows all parameters to be easily automated via the 24-inch colour touchscreen, including production speed, control of all fabric feed devices, rotation spray or steaming cylinder options, the width of the stretching field and the rubber belt pressure. Up to 10,000 separate process parameter records can be generated and stored by the data manager.

“We are looking forward to being a part of ITA at a time when international travel to trade shows is being greatly restricted,” says Monforts Textile Technologist Jonas Beisel. “This year has been all about finding new solutions to unprecedented problems and such an innovative showcase is part of that. Hopefully we will be able to resume face-to-face gatherings with all of our customers and colleagues from around the world very shortly.”

Posted October 5, 2020

Source: A. Monforts Textilmaschinen GmbH & Co. KG

TEMPE, Ariz. — October 1, 2020 — Economic activity in the manufacturing sector grew in September, with the overall economy notching a fifth consecutive month of growth, 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 September PMI® registered 55.4 percent, down 0.6 percentage point from the August reading of 56 percent. This figure indicates expansion in the overall economy for the fifth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth. The New Orders Index registered 60.2 percent, a decrease of 7.4 percentage points from the August reading of 67.6 percent. The Production Index registered 61 percent, down 2.3 percentage points compared to the August reading of 63.3 percent. The Backlog of Orders Index registered 55.2 percent, 0.6 percentage point higher compared to the August reading of 54.6 percent. The Employment Index registered 49.6 percent, an increase of 3.2 percentage points from the August reading of 46.4 percent. The Supplier Deliveries Index registered 59 percent, up 0.8 percentage point from the August figure of 58.2 percent.

“The Inventories Index registered 47.1 percent, 2.7 percentage points higher than the August reading of 44.4 percent. The Prices Index registered 62.8 percent, up 3.3 percentage points compared to the August reading of 59.5 percent. The New Export Orders Index registered 54.3 percent, an increase of 1 percentage point compared to the August reading of 53.3 percent. The Imports Index registered 54 percent, a 1.6-percentage point decrease from the August reading of 55.6 percent.

“After the coronavirus (COVID-19) pandemic brought manufacturing activity to historic lows, the sector continued its recovery in September. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories and are becoming more proficient at maintaining output. Panel sentiment was optimistic (2.3 positive comments for every cautious comment), an improvement compared to August. Demand expanded, with the (1) New Orders Index growing at strong levels, supported by the New Export Orders Index expanding moderately, (2) Customers’ Inventories Index at its lowest figure since June 2010, a level considered a positive for future production, and the (3) Backlog of Orders Index expanding at a faster rate compared to the prior two months. Consumption (measured by the Production and Employment indexes) contributed positively (a combined 0.9-percentage point increase) to the PMI® calculation, with five of the top six industries continuing to expand output strongly. Employment neared expansion territory for the first time since July 2019. Inputs — expressed as supplier deliveries, inventories and imports — continued to indicate input-driven constraints to further production expansion, but at slower rates compared to August. Inventory levels contracted again due to strong production output and supplier delivery difficulties. Overall, inputs improved compared to August and contributed positively to the PMI® calculation. (The Supplier Deliveries and Inventories indexes directly factor into the PMI®; the Imports Index does not.) Prices continued to expand at higher rates, reflecting a continued shift to seller pricing power — a positive for new-order growth.

“Among the six biggest manufacturing industries, Food, Beverage & Tobacco Products remains the best-performing sector, with Fabricated Metal Products and Chemical Products growing strongly. Computer & Electronic Products and Transportation Equipment expanded moderately. Petroleum & Coal Products remained a headwind to PMI performance.

“Manufacturing performed well in the month with demand, consumption and inputs registering growth indicative of a normal expansion cycle. While certain industry sectors are experiencing difficulties that will continue in the near term, the manufacturing community as a whole has learned to conduct business effectively and deal with the variables imposed by the COVID-19 pandemic,” Fiore said.

Of the 18 manufacturing industries, 14 reported growth in September, in the following order: Paper Products; Wood Products; Food, Beverage & Tobacco Products; Furniture & Related Products; Electrical Equipment, Appliances & Components; Nonmetallic Mineral Products; Fabricated Metal Products; Chemical Products; Miscellaneous Manufacturing; Plastics & Rubber Products; Machinery; Textile Mills; Computer & Electronic Products; and Transportation Equipment. The four industries reporting contraction in September are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Petroleum & Coal Products; and Primary Metals.

What Respondents Are Saying

“Still struggling with long lead times for components coming from China [contract manufacturers].” — Computer & Electronic Products

“Volume remains lower than one year ago but has steadily improved over the past two periods.” — Chemical Products

“Business is booming, and the supply chain has been caught off guard. We are working closely with our suppliers to ensure supply and try to control costs. The resin industry, along with plastics, is driving cost increases and scarce availability.” — Transportation Equipment

“Our business has not begun to recover.” — Petroleum & Coal Products

“Overall business conditions are improving, but not at the rates we saw them decline.” — Fabricated Metal Products

“Our customer order intake is increasing significantly for deliveries in the first half of 2021. Outlook is generally positive.” — Machinery

“Retail sales remain strong, but food service is still down about 15 percent year-over-year. All of our factories are still struggling with manning shifts due to positive COVID-19 cases and/or quarantine because employees came in contact with someone who contracted the virus.” — Food, Beverage & Tobacco Products

“Demand remains high, strong finish to 2020 projected, with an even stronger 2021 fiscal year. Prices have increased in certain categories, but no major price increases of our own have been implemented yet. We are seeing an uptick in reshoring opportunities in the third quarter across various industries and products.” — Electrical Equipment, Appliances & Components

“We are seeing a marked increase in international demand in Q4 compared to Q2 and Q3. Still not at historical levels; however, a positive outlook.” — Paper Products

“Raw material shortages, especially of hardwood logs, are starting to impact overall supply. Domestic market demand is fragmented but remains sound. Export demand, especially to China, is robust.” — Wood Products

“Business has continued to be strong, with September following August. October is also shaping up to be a good sales month as well.” — Plastics & Rubber Products

Manufacturing ISM® Report On Business® data is seasonally adjusted for the New Orders, Production, Employment and Inventories indexes.

*Number of months moving in current direction.

Commodities Reported Up/Down In Price And In Short Supply

Commodities Up in Price
: Aluminum (4); Aluminum Extrusions; Copper (4); Freight (2); High-Density Polyethylene (HDPE) (3); Lumber (3); Natural Gas (2); Polypropylene (3); Polyvinyl Chloride; Precious Metals (3); Propylene (2); Resins; Sanitizers; Steel (2); Steel — Cold Rolled; Steel — Hot Rolled; Steel — Scrap (2); and Steel Products.

Commodities Down in Price
: Oil.

Commodities in Short Supply:
Aluminum; Cable Assemblies; Capacitors; Lumber (2); Personal Protective Equipment (PPE); PPE — Gloves (7); PPE — Masks; Polypropylene; Resins; Resistors; and Sanitizers.

Note: The number of consecutive months the commodity is listed is indicated after each item.

September 2020 Manufacturing Index Summaries

PMI®

Manufacturing grew in September, as the PMI registered 55.4 percent, 0.6 percentage point lower than the August reading of 56 percent. “The PMI signaled a continued rebuilding of economic activity in September, with all subindexes either remaining in moderate to strong growth territory or slowing their rate of contraction (Employment and Inventories). Five of the big six industry sectors continue to expand. The New Orders and Production indexes continued at strong expansion levels. The Supplier Deliveries Index continues to reflect supplier difficulties in maintaining delivery rates due to factory labor safety issues and transportation challenges. Eight of the 10 subindexes were positive for the period. A reading of ‘too low’ for Customers’ Inventories is considered a positive for future production,” Fiore said. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

A PMI above 42.8 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the September PMI indicates the overall economy grew in September for the fifth consecutive month following contraction in April. “The past relationship between the PMI and the overall economy indicates that the PMI for September (55.4 percent) corresponds to a 3.7-percent increase in real gross domestic product (GDP) on an annualized basis,” Fiore said.

The Last 12 Months

New Orders

ISM’s New Orders Index registered 60.2 percent in September, a decrease of 7.4 percentage points compared to the 67.6 percent reported in August. This indicates that new orders grew for the fourth consecutive month. “Four of the top six industry sectors (Food, Beverage & Tobacco Products; Fabricated Metal Products; Chemical Products; and Transportation Equipment) expanded,” Fiore said. A New Orders Index above 52.5 percent, over time, is generally consistent with an increase in the Census Bureau’s series on manufacturing orders (in constant 2000 dollars).

Of the 18 manufacturing industries, the 12 that reported growth in new orders in September — in the following order — are: Wood Products; Electrical Equipment, Appliances & Components; Plastics & Rubber Products; Furniture & Related Products; Paper Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Fabricated Metal Products; Nonmetallic Mineral Products; Machinery; Chemical Products; and Transportation Equipment. The three industries reporting a decline in new orders in September are: Apparel, Leather & Allied Products; Textile Mills; and Miscellaneous Manufacturing.

Production

The Production Index registered 61 percent in September, 2.3 percentage points lower than the August reading of 63.3 percent, indicating growth for the fourth consecutive month. “Five of the top six industries (Chemical Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; and Computer & Electronic Products) expanded strongly,” says Fiore. An index above 51.7 percent, over time, is generally consistent with an increase in the Federal Reserve Board’s Industrial Production figures.

The 14 industries reporting growth in production during the month of September — listed in order — are: Wood Products; Electrical Equipment, Appliances & Components; Furniture & Related Products; Paper Products; Machinery; Chemical Products; Fabricated Metal Products; Nonmetallic Mineral Products; Transportation Equipment; Primary Metals; Food, Beverage & Tobacco Products; Computer & Electronic Products; Plastics & Rubber Products; and Miscellaneous Manufacturing. The three industries reporting decreased production in September are: Apparel, Leather & Allied Products; Textile Mills; and Petroleum & Coal Products.

Employment

ISM’s Employment Index registered 49.6 percent in September, 3.2 percentage points higher than the August reading of 46.4 percent. “This is the 14th consecutive month of employment contraction, at a slower rate compared to August. This marks the fifth consecutive month of improvement since the index’s low of 27.5 percent registered in April. Four of the six big industry sectors, (Computer & Electronic Products; Food, Beverage & Tobacco Products; Chemical Products; and Transportation Equipment)  experienced expansion. Slowing inventories contraction typically indicates a need for more labor to maintain production output. Long-term labor market growth remains uncertain, but strong new-order levels and an expanding backlog signify potential employment strength for the fourth quarter. Survey panelists’ comments indicate that there are significantly more companies hiring or attempting to hire than those that are reducing labor forces,” says Fiore. An Employment Index above 50.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) data on manufacturing employment.

Of the 18 manufacturing industries, the eight industries to report employment growth in September — in the following order — are: Textile Mills; Furniture & Related Products; Miscellaneous Manufacturing; Computer & Electronic Products; Paper Products; Food, Beverage & Tobacco Products; Chemical Products; and Transportation Equipment. The eight industries reporting a decrease in employment in September, in the following order, are: Printing & Related Support Activities; Petroleum & Coal Products; Apparel, Leather & Allied Products; Primary Metals; Nonmetallic Mineral Products; Plastics & Rubber Products; Machinery; and Fabricated Metal Products.

Supplier Deliveries†

The delivery performance of suppliers to manufacturing organizations was slower in September, as the Supplier Deliveries Index registered 59 percent. This is 0.8 percentage point higher than the 58.2 percent reported in August. “Suppliers continue to struggle to deliver, with deliveries slowing at a faster rate compared to August. Transportation challenges and continuing difficulties in supplier labor markets are still constraints to production growth. The Supplier Deliveries Index reflects the difficulties suppliers continue to experience due to COVID-19 impacts. These issues are not expected to diminish soon and, at this time, represent a continuing hurdle to production output and inventories growth,” Fiore said. A reading below 50 percent indicates faster deliveries, while a reading above 50 percent indicates slower deliveries.

Sixteen of 18 industries reported slower supplier deliveries in September, listed in the following order: Paper Products; Nonmetallic Mineral Products; Textile Mills; Fabricated Metal Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Wood Products; Miscellaneous Manufacturing; Machinery; Computer & Electronic Products; Chemical Products; Furniture & Related Products; Primary Metals; Electrical Equipment, Appliances & Components; and Transportation Equipment. The only industry reporting faster supplier deliveries in September is Petroleum & Coal Products.

Inventories

The Inventories Index registered 47.1 percent in September, 2.7 percentage points higher than the 44.4 percent reported for August. Inventories contracted for the third straight month, but at a slower rate. “Inventory levels remained in contraction due to continued strength in production and ongoing supplier difficulties,” Fiore said. An Inventories Index greater than 44.3 percent, over time, is generally consistent with expansion in the Bureau of Economic Analysis (BEA) figures on overall manufacturing inventories (in chained 2000 dollars).

The four industries reporting higher inventories in September are: Apparel, Leather & Allied Products; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; and Paper Products. The 12 industries reporting a decrease in inventories in September — listed in order — are: Printing & Related Support Activities; Primary Metals; Wood Products; Plastics & Rubber Products; Fabricated Metal Products; Machinery; Furniture & Related Products; Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Transportation Equipment; Chemical Products; and Computer & Electronic Products.

Customers’ Inventories†

ISM’s Customers’ Inventories Index registered 37.9 percent in September, 0.2 percentage point lower than the 38.1 percent reported for August, indicating that customers’ inventory levels were considered too low. “Customers’ inventories are too low for the 48th consecutive month and moved further into ‘too low’ territory in September, a positive for future production growth. It’s been more than a decade (a reading of 35.8 percent in June 2010) since the Customers’ Inventories index has been at this level,” Fiore said.

Of the 18 industries, the two reporting higher customers’ inventories in September are: Apparel, Leather & Allied Products; and Printing & Related Support Activities. The 15 industries reporting customers’ inventories as too low during September — listed in order — are: Wood Products; Primary Metals; Fabricated Metal Products; Paper Products; Furniture & Related Products; Machinery; Plastics & Rubber Products; Textile Mills; Chemical Products; Transportation Equipment; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Nonmetallic Mineral Products; Computer & Electronic Products; and Miscellaneous Manufacturing.

Prices†

The ISM® Prices Index registered 62.8 percent, an increase of 3.3 percentage points compared the August reading of 59.5 percent, indicating raw materials prices increased for the fourth consecutive month. “Price increases were driven primarily by plastics, lumber, aluminum, copper, steel products, transportation expenses and precious metals. Price growth continues to reflect a power shift toward sellers, as increased costs to produce input materials continue to be passed on to panelists’ companies,” Fiore said. A Prices Index above 52.5 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Producer Price Index for Intermediate Materials.

The 15 industries reporting paying increased prices for raw materials in September — listed in order — are: Wood Products; Textile Mills; Furniture & Related Products; Plastics & Rubber Products; Fabricated Metal Products; Machinery; Primary Metals; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; Printing & Related Support Activities; Computer & Electronic Products; Chemical Products; Transportation Equipment; Paper Products; and Food, Beverage & Tobacco Products. The two industries reporting decreased prices in September are: Petroleum & Coal Products; and Nonmetallic Mineral Products.

Backlog of Orders†


ISM’s Backlog of Orders Index registered 55.2 percent in September, a 0.6-percentage point increase compared to the 54.6 percent reported in August, indicating order backlogs expanded for the third consecutive month after four straight months of contraction. “Backlogs expanded at faster rates in September, indicating that new-order intakes were sufficient to fully offset production outputs. Four of the six big industry sectors’ backlogs expanded (Fabricated Metal Products; Chemical Products; Food, Beverage & Tobacco Products; and Transportation Equipment). The index achieved its highest level of expansion since November 2018 (56.4 percent),” Fiore said.

The 10 industries reporting growth in order backlogs in September, in the following order, are: Electrical Equipment, Appliances & Components; Wood Products; Plastics & Rubber Products; Fabricated Metal Products; Miscellaneous Manufacturing; Chemical Products; Food, Beverage & Tobacco Products; Transportation Equipment; Furniture & Related Products; and Machinery. In September, four industries reported lower backlogs: Apparel, Leather & Allied Products; Textile Mills; Computer & Electronic Products; and Primary Metals.

New Export Orders†


ISM’s New Export Orders Index registered 54.3 percent in September, up 1 percentage point compared to the August reading of 53.3 percent. “The New Export Orders Index grew for the third consecutive month at a faster rate and reached its highest level since September 2018 (56 percent). With five of the six big industry sectors expanding, (Food, Beverage & Tobacco Products; Transportation Equipment; Fabricated Metal Products; Computer & Electronic Products; and Chemical Products), new export orders were a positive factor to the growth in new orders,” Fiore said.

The 10 industries reporting growth in new export orders in September — in the following order — are: Furniture & Related Products; Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Paper Products; Food, Beverage & Tobacco Products; Transportation Equipment; Fabricated Metal Products; Miscellaneous Manufacturing; Computer & Electronic Products; and Chemical Products. The only industry reporting a decrease in new export orders in September is Machinery. Six industries reported no change in new export orders in September compared to August.

Imports†

ISM’s Imports Index registered 54 percent in September, down 1.6 percentage points compared to the 55.6 percent reported for August. “Imports expanded for the third consecutive month, reflecting continued increases in U.S. factory demand,” Fiore said.

The 10 industries reporting growth in imports in September — in the following order — are: Wood Products; Electrical Equipment, Appliances & Components; Paper Products; Transportation Equipment; Nonmetallic Mineral Products; Furniture & Related Products; Machinery; Computer & Electronic Products; Food, Beverage & Tobacco Products; and Chemical Products. The four industries reporting decreases in imports in September are: Apparel, Leather & Allied Products; Primary Metals; Miscellaneous Manufacturing; and Fabricated Metal Products.

†The Supplier Deliveries, Customers’ Inventories, Prices, Backlog of Orders, New Export Orders and Imports indexes do not meet the accepted criteria for seasonal adjustments.

Buying Policy

Average commitment lead time for Capital Expenditures decreased September by one day to 135 days. Average lead time for Production Materials decreased in September by two days to 64 days. Average lead time for Maintenance, Repair and Operating (MRO) Supplies decreased in September by five days to 35 days.

Posted October 2, 2020

Source: Institute for Supply Management® (ISM®)