Institute for Supply Management
Advancing the purchasing and supply management profession through education and development.
December 20, 2004
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Efficiency Opportunities
"Cost-Effective Supply Chain Management"

The Legal ABC's of Purchasing
"Purchasing and the Law"

Back to Basics
"Fundamentals Of Purchasing: The Building Blocks of World Class Professionalism"

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Glossary of Key Purchasing and Supply Terms Term of the Day:

FAIR MARKET VALUE
The value of an item as determined by negotiation between purchasers and suppliers, which is acceptable as a basis for a purchase and sale.


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