Institute for Supply Management (ISM) announces the departure of Timothy R. Fiore CPSM, C.P.M., who has served as chair of ISM’s Manufacturing Business Survey Committee since 2017.
Fiore will be succeeded by Susan Spence who will assume the role in June 2025. In this capacity, she will oversee the Manufacturing ISM Report On Business, author the monthly report, and serve as the official spokesperson for the ISM Manufacturing Business Survey Committee.
Fiore led the ISM Manufacturing PMI through some of the most pivotal and challenging periods in recent economic history, including the global supply chain disruptions caused by the COVID-19 pandemic. under his steady leadership and sharp economic insight, the Manufacturing PMI remained a vital barometer of the U.S. economy. His deep expertise, composed leadership, and ability to interpret complex data elevated the PMI’s global reputation as a trusted and essential economic indicator, earning him wide recognition and respect across business and economic communities.
Spence served as vice president of the newly centralized Sourcing & Procurement group at FedEx Corp., beginning in October 2013. She led a team of more than 250 professionals managing over USD 25 billion in spend, systems and policies related to the company’s global sourcing and procurement operations. Spence is an active member of several professional supply chain management councils and university boards. In 2020, she was honored with ISM’s J. Shipman Gold Medal Award, which recognizes individuals whose career achievements have advanced the procurement and supply chain management profession. Spence retired from FedEx in July 2023 and currently contributes her expertise through various advisory board roles and speaking engagements.
Prior to joining FedEx, Spence spent 28 years at United Technologies Corporation (UTC), holding positions of increasing responsibility within its aerospace divisions, including Pratt & Whitney, Hamilton Sundstrand and Sikorsky Aircraft. She also served as director of supply management at UTC’s corporate headquarters where her team received Purchasing Magazine’s Medal of Excellence. Spence was also recognized as a YWCA Woman Achiever in Business. Her career has encompassed leadership in supply management, operations transformation and continuous improvement.
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