In 2009, the worldwide economic crisis dominated the world stage, not just the business stage. CAPS Research, like almost every other organization in the private, public, or nonprofit sector, took some tough hits.

But we made it through this difficult period. Like your organizations, we cut back on activities not critical to our core mission, held off on projects that could be delayed, and reexamined every expense. In short, we survived by using the same strategies that enabled your organizations to cope with this significant economic downturn.

CAPS Research examined the downturn and its effects on supply management at the 2009 Executive Roundtable, in which participants took in lessons from their peers in presentations and dissected them further in their discussions. In June, we returned to similar themes at our global Roundtables in Tokyo, Japan and Shanghai, China, but with an eye on strategies and tactics used in those parts of the world. The same topic was examined at two Critical Issues conferences, our one-day, in-depth examinations of challenges facing supply management organizations. In April, Dresser-Rand hosted a conference on "Supplier Financial Risk Assessment," and Rolls-Royce hosted another in August on the same topic.

Now we are focusing on the steps to take after the recovery, to help your organizations prosper in the new economies. Our 2009 Best Practices Workshop focused on "Supply Management in a Transitioning Economy," and the next Executive Roundtable will focus on maximizing your capabilities beyond the transition, with a spotlight on value-based commodity management and accelerating innovation from the supply base. And our benchmarking and focus studies will continue to provide insights into the details behind successful organizations' most effective and efficient strategies.

For our steady progress forward from 2009, we owe a great debt to our corporate sponsors. All of them are listed here, and I am grateful to each of them for their stalwart financial support and commitment to our programs.

Nowhere was this level of commitment more evident than from our 25-member Board of Trustees, led by James Scotti, senior vice president and CPO of Fluor Corporation. The Board believes strongly in the vision of CAPS Research: to lift up the profession by means of research that yields measurable value. The Board continues to give us firm and enlightened guidance on strategies to achieve this vision.

You can be assured that the challenging conditions of the past year have forged a stronger CAPS Research. We look forward to 2010 and working with you on the opportunities that will be presented to us.

Phillip L. Carter

Source: CAPS Research Annual Report 2009