Institute for Supply Management

The Institute for Supply Management (ISM) is a global not-for-profit professional organization dedicated to advancing the practice of supply management and end-to-end supply chain management. Founded in 1915, its mission is to elevate the profession by driving value, resilience, and competitive advantage, while contributing to a more sustainable and prosperous world. ISM's headquarters are located in Tempe, Arizona.

ISM provides a comprehensive suite of products and services, including globally recognized certifications such as the Certified Professional in Supply Management (CPSM), Certified Professional in Supplier Diversity (CPSD), and Associate Professional in Supply Management (APSM). The organization offers extensive education, training programs, and research, alongside publications like the Inside Supply Management magazine. A key offering is the monthly ISM PMI® Reports (Manufacturing, Services, and Hospital), which are highly regarded economic indicators. ISM also fosters a strong community through events, corporate services, and networking opportunities for its more than 50,000 members across over 100 countries.

In recent developments, ISM announced a strategic expansion in March 2025 to cover end-to-end supply chain management, reflecting the evolving nature of the profession. The organization also appointed its 2025-2026 Board of Directors in October 2025, notable for featuring the first all-woman leadership team with Stacey Taylor as Chair and Michelle Hawkins as Vice Chair. ISM continues to recognize emerging talent through its 30 Under 30 Rising Supply Chain Stars program and supports future leaders with initiatives like the R. Gene Richter Scholarship. Its monthly Manufacturing PMI® reports consistently provide current insights into economic activity, with the April 2026 report indicating continued expansion.

Latest updates

US Manufacturing Expansion Continues, Prices Surge Amid Geopolitical Uncertainty

Event summary

  • The ISM Manufacturing PMI registered 52.7 in April 2026, unchanged from March, indicating continued expansion.
  • Prices increased significantly, with the Prices Index jumping to 84.6, the highest level since April 2022.
  • Employment contracted for the 31st of the last 39 months, with 60% of panelists managing head counts through attrition or layoffs.
  • New Export Orders contracted for the second consecutive month, and Customers' Inventories remain 'too low'.

The big picture

The April PMI report paints a mixed picture of the U.S. manufacturing sector. While overall expansion continues, rising prices and a contracting labor market, exacerbated by the ongoing Iran War and tariffs, present significant headwinds. The persistent 'too low' customer inventory levels suggest a cautious approach to production and potential future demand, while the contraction in export orders highlights the sector's sensitivity to global economic conditions.

What we're watching

Price Pressures
The sustained surge in prices, particularly driven by geopolitical instability and tariffs, will likely force manufacturers to either absorb costs or pass them onto consumers, potentially impacting demand.
Labor Dynamics
The continued contraction in employment, coupled with workforce management strategies like attrition, suggests a potential long-term shift in manufacturing labor practices and could constrain production capacity.
Export Vulnerability
The decline in new export orders signals a weakening in external demand, and the sector's reliance on global trade makes it vulnerable to further geopolitical disruptions and trade policy changes.

Former Novartis Procurement Chief Melton Wins Supply Chain Leadership Award

Event summary

  • Farryn Melton, former CPO of Novartis, Amgen, and Bristol Myers Squibb, received the 2026 J. Shipman Gold Medal Award from the Institute for Supply Management (ISM).
  • While at BMS, Melton oversaw $12 billion in spend and delivered $1.5 billion in synergy savings following the Celgene acquisition.
  • Melton established a supplier diversity program at BMS, achieving a $1 billion annual spend goal two years ahead of schedule (2023 vs. 2025 target).
  • Since retiring in 2023, Melton founded Strategic Edge Advisories and serves on multiple boards, including Cambrex and SafeTouch Security.

The big picture

Farryn Melton's career exemplifies the increasing strategic importance of procurement within large organizations. Her focus on supplier diversity, resilience, and talent development reflects a broader trend towards ESG integration and risk mitigation within global supply chains. The award recognizes a leader who has successfully positioned procurement as a value driver, not just a cost center, a model increasingly adopted by Fortune 100 companies facing complex geopolitical and economic challenges.

What we're watching

Governance Dynamics
Melton's continued board service and advisory roles suggest a focus on governance best practices within the supply chain space; expect her influence to shape corporate risk management strategies.
Supplier Diversity
The accelerated achievement of BMS's supplier diversity goal highlights a growing emphasis on inclusive procurement; other large organizations will likely face increasing pressure to follow suit.
Strategic Partnerships
Melton's advocacy for supplier partnership models indicates a shift away from purely transactional sourcing; the long-term viability of these relationships will depend on navigating economic volatility.
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