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


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:

INVENTORY TURNOVER

A measure of the velocity of total inventory movement through the organization, found by dividing annual sales (at cost) by the average aggregate inventory value maintained during the year. The higher the turnover, generally, the more favorable the measure.


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