Institute for Supply Management: Facilitating Supply for Demand
In a world driven by supply and demand, and where the consumer is king, the system of supply management makes use of the most sophisticated technology at its disposal to ensure that the flow of goods continues uninterrupted. Founded in 1915, the Institute for Supply Management addresses the issue of efficient supply management, which is essential in today’s highly competitive markets. Its mission is to encourage the industry to adhere to standards of excellence, making available research resources, promotional activities and ongoing education. As a non-profit association and a member of the International Federation of Purchasing and Supply Management (IFPSM), the Institute for Supply Management (ISM) has a network of affiliated associations, both in the United States and internationally, serving more than 40,000 members in over 80 countries.
The ISM offers the qualifications of Certified Professional in Supplier Diversity® (CPSD™) and the Certified Professional in Supply Management® (CPSM®). As part of its ongoing education program, the ISM organizes conferences and seminars, as well as hosting a Virtual Education Network and the ISM-ADR School for Supply Management, including customized training and development tailored to suit the needs of companies, and in-house professional development seminars. The Virtual Education Network provides educational podcasts, web-based seminars, satellite seminars and an online knowledge center. By using these communication resources, companies are kept up-to-date on trends and technology advances in supply management. Members are also kept updated on supply management news and events by means of the ISM Just in ETime newsletter.
Of particular interest to Wall Street investors are the reports compiled by the Institute for Supply Management under the registered trademark of Report On Business. These include reports on Manufacturing sectors detailing the Purchasing Managers Index (PMI), New Orders, Production, Employment, Supplier Deliveries, Inventories, Customer Inventories, Prices, Backlog of Orders, Export and Imports; as well as Non-Manufacturing detailing NMI/PMI, Business Activity, New Orders, Employment, Supplier Deliveries, Inventories, Prices, Backlog of Orders, New Export Orders, Imports, Inventory Sentiment, Customers Inventories, plus a comparison of Manufacturing and Non-Manufacturing. The ISM also publishes its Purchasing Managers Index (PMI) on a monthly basis.