Business in Singapore
Singapore Institute of Purchasing & Materials Management (SIPMM) is a not-for-profit, independent professional organisation founded in 1972 with the aim to enhance managerial effectiveness of professionals in purchasing, logistics, materials and supply management. The mission of SIPMM is to lead professional competence in purchasing, materials, logistics, and supply management.
In 1975, SIPMM became the first Singapore organisation to be admitted to the world body, the International Federation of Purchasing & Supply Management (IFPSM). Since then, the Institute works closely with the fellow national affiliates of IFPSM, and develops strategic relationship with leading institutes worldwide. In 1980, SIPMM initiated a closer co-operation of Asia-Pacific institutes within IFPSM and became the first institute to host the inaugural IFPSM Asia-Pacific regional conference. Subsequently in 1990, the Institute hosted the IFPSM sixth Asia-Pacific regional conference. Over the years, SIPMM has expanded its role and scope beyond management development to become the largest leading organisation in Singapore, representing and promoting professional development of purchasing, logistics, materials and supply management.
SIPMM collaborated with the World Certification Institute (WCI) to offer competency awards leading to the accreditation of a practitioner or the certification of a professional in the specialised field of purchasing, logistics and supply chain management. These awards are designed to validate the competence of those in the specialised field of the profession.
In 1998, SIPMM successfully conducted a pilot survey on the Singapore Purchasing Managers’ Index (PMI). The composite index took into account the Singapore’s economic structure. The Singapore PMI was launched in January 1999 and since then, SIPMM has published the monthly index. The Singapore PMI has become a key barometer of the Singapore manufacturing economy and has been widely followed by major local and international media agencies.