Glossary of Key Purchasing and Supply Terms Term of the Day:
STANDARDIZATION
The process of agreeing on a common specification. This process can take place at different levels: (1) across an organization; (2) throughout an industry; (3) across a nation and (4) around the world.
The National Association of Purchasing Management has become the Institute for Supply Management. Please be aware that NAPM.org is now ISM.ws.