Institute For Supply Management - ISM


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.

  1. Supply Management

    A broad term describing the various acts of identifying, acquiring ...
  2. Purchasing Managers' Index - PMI

    An indicator of the economic health of the manufacturing sector. ...
  3. Supply Chain

    The network created amongst different companies producing, handling ...
  4. Just In Time - JIT

    An inventory strategy companies employ to increase efficiency ...
  5. Supply Chain Management - SCM

    Supply chain management is the streamlining of a business' supply-side ...
  6. Whartonite

    A graduate of the Wharton School of Business at the University ...
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