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The Institute for Supply Management® (ISM) is the first supply management institute in the world. Since 1915, ISM has executed and extended its mission through education, research, standards of excellence and information dissemination — including the renowned monthly ISM Report On Business® — and maintains a strong global influence among individuals and organizations.

Glossary of Key Supply Management Terms TERM OF THE DAY:


The computer-to-computer exchange of business information in a standard format (ANSI X.12). Transaction documents, such as purchase orders, invoices and shipping notices, are transmitted electronically and entered directly into a supplier's (or purchaser's) computer or into a third-party network for processing.

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