--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

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Enhance the Value and Performance of Practitioners and their Organizations Worldwide:


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.


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Glossary of Key Supply Management Terms TERM OF THE DAY:

PURCHASE ORDER

A legally binding document prepared by a purchaser to describe the terms and conditions of a purchase. In the contracting process the purchase order may function as an offer, an acceptance, a confirmation of an oral agreement or a trigger for periodic performance (release) under an established contract.


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