DEFINITION of 'Institute For Supply Management - ISM'
A non-profit organization that serves professionals, who are employed in the supply management profession. The Institute for Supply Management provides educational resources to its members, as well as creating industry standards. ISM polls its members about factors affecting their business, compiling this information in reports, such as the Purchasing Managers Index (PMI).
BREAKING DOWN 'Institute For Supply Management - ISM'
The organization was initially called the National Association of Purchasing Agents, when it was founded in 1915. The name was changed in 2002. ISM also created the Certified Professional in Supply Management (CPSM) certification.