what is the institute for supply management ism 
the term institute for supply management ism refers to a nonprofit supply management association established in 1915 it is the largest organization of its kind it provides certification development education and research for individuals and corporations in the supply management and purchasing professions the goal of the ism is to help advance supply management to drive value and competitive advantage 1 the organization publishes the ism manufacturing report on business understanding the institute for supply management ism the institute for supply management was founded in 1915 as the national association of purchasing agents 2 the organization operated as such until 2002 when it officially changed its name to the ism 3 as noted above it is the largest organization that serves members of the supply management and the purchasing industries as of 2021 the organization had more than 50 000 members across 100 countries 1 the association offers services to industry professionals and corporations 4 the ism s leadership is comprised of individuals who work in supply management 5the ism provides professionals with certifications career help training and peer networking members can earn two highly sought after designations from the institute and become a certified professional in supply management cpsm and a certified professional in supplier diversity cpsd individuals must recertify through continuing education work experience volunteering or exams 8the organization releases its report on business which includes the manufacturing purchasing managers index pmi and the services or non manufacturing pmi these two indexes are published monthly by the ism manufacturing and services business survey committees they and are considered to be among the most reliable economic indicators the committees also release a monthly hospital pmi 9professionals with a cpsm designation can earn as much as 10 more than their industry peers 7special considerationssupply management is often considered to be the way in which businesses purchase and use the raw materials they need to produce their finished goods while this is just one part of the definition there s actually more to it than that supply management is a complex process that requires personnel to tackle the following personnel who work in supply management and purchasing must also be adept at coordinating the logistics involved with preproduction inventory management budgeting workforce management and ensuring that the business runs smoothly 