In June 1972 18 persons of Senior Executive level in the field of Purchasing and Materials Management in Government Departments, Defense Services, State Corporation and leading Mercantile Firms met to discuss the establishment of an Institute to foster the professional development of the Purchasing and Supply Functions in Sri Lanka. On 24th October 1972 the Institute of Supply and Materials Management was established, thus fulfilling a long felt need. The Institute was ceremonially inaugurated with a well attended seminar in early 1973 at the Auditorium of the Central Bank by the then Minister of Foreign and Internal Trade, Hon. T. B. Illangaratne. It was registered as a company under section 19 of the Companies Ordinance in 1978 with the Registrar of Companies. The Institute was admitted a Member of the Organization of Professional Associations of Sri Lanka in 1976 and has its registered office in the OPA Building at No.275/75, Prof. Stanley Wijesundara Mawatha, Colombo 7. This Institute was incorporated by Parliament by Act No. 3 of 1981. The ISMM affiliated to the International Federation of Purchasing & Supply Management (IFPSM), the Institute for Supply Management (ISM) in USA, Association of Management Development Institutes of South Asia (AMDISA) and the Asian-Pacific Logistics Federation (APLF). Presently the Institute consists, of 28 Fellow Members, 469 Corporate Members, 299 Associate Members with 12 Institutional Members making a total of 809 professionals spread over the Public and Private sector under-takings.