Introducing Updated ISM Glossary of Key Supply Management Terms

FOR RELEASE: January 9, 2007

Media Contact:
Jean McHale
ISM Public Relations
800/888-6276, extension 3143
jmchale@ism.ws

ISM Customer Service:
800/888-6276, extension 401
custsvs@ism.ws

Fourth edition expanded by more than 130 percent.

(TEMPE, Ariz.) January 9, 2007 — Information from all disciplines within supply management and expanded content are highlights of the updated publication, ISM Glossary of Key Supply Management Terms (4th Edition).

Compiled and updated by Institute for Supply Management™ (ISM), the just-released Glossary is expanded by more than 130 percent including:

  • Almost 300 additional legal terms
  • More than 120 additional inventory and warehouse management terms
  • More than 130 additional logistics, transportation and receiving terms
  • More than 150 additional financial terms

The expansive supply management content is a result of collaboration with subject matter experts and sources representing practitioners, attorneys and academicians. All definitions in the expanded fourth edition have been written or selected to reflect the current global business environment.

This valuable reference tool is a result of a comprehensive review of printed and Web-based sources across private and public industry sectors. The bound collection, which includes a searchable CD, is available for $30 for ISM members and $50 for nonmembers. To order online, visit ISM at www.ism.ws and select Products or call ISM Customer Service at 800/888-6276, extension 401.

As the oldest and largest supply management institute in the world, the mission of Institute for Supply Management™ (ISM) is to lead supply management. By executing and extending its mission through education, research, standards of excellence, influence building and information dissemination — including the renowned monthly ISM Report On Business® — ISM continues to extend the global impact of supply management. ISM's membership base includes more than 40,000 supply management professionals in 75 countries. Supply management professionals are responsible for trillions of dollars in the purchases of products and services annually. ISM is a member of the International Federation of Purchasing and Supply Management (IFPSM).

ISM defines supply management as the identification, acquisition, access, positioning and management of resources and related capabilities the organization needs or potentially needs in the attainment of its strategic objectives. Further, supply management is: future oriented, senior-management critical, strategic in relation to the competitive imperatives of the organization, and a significant contributor to marketplace intelligence and profitability. Components included under the supply management umbrella are: purchasing/procurement; strategic sourcing; logistics; quality; inventory control; materials management; warehousing; transportation/traffic/shipping; disposition/investment recovery; distribution; receiving; packaging; product/service development and manufacturing supervision.