To promote and develop the principles, techniques and practices of purchasing and supply chain management.
To hold meetings regularly for reading papers and discussing matters connected with purchasing and supply chain management.
To undertake research into the working of the supply function, to improve techniques and to examine and report on any development which may affect activities in the field of purchasing and supply chain management.
To sponsor, organize and conduct conferences, seminars, public lectures, group studies within or outside Sri Lanka with a view to enlarging the knowledge of those engaged in purchasing and supply chain management.
To conduct courses and examinations qualifying for membership of the Institute to test the competence of persons engaged in supply and materials management and to grant certificates of competence.
To assess the eligibility of candidates for admission to the various grades of membership of ISMM.
To establish, maintain or assist or carry on colleges, institutes, academies, libraries or research centers for studies relating to supply and materials management for the benefit of the members of the Institute and the general public or any section thereof, within or outside Sri Lanka.
To provide opportunities for members of the Institute to undertake studies on subjects of particular interest to the Institute and where feasible, arrange for the publication of such studies.
To promote and foster a high code of professional conduct amongst all persons engaged in purchasing and supply chain management.
To secure wide recognition of the importance of efficient Purchasing, Supply and Materials Management in modern industry, and to improve the professional status of the same and to bring into association and friendly relationship those engaged in purchasing and supply chain management for public undertakings or industrial firms or companies.
To foster public interest in and to increase public awareness of the importance of purchasing and supply chain management in Sri Lanka.
To establish, foster and maintain relations with similar or allied interests both in Sri Lanka and abroad.
To add all such other acts and things as are incidental or conducive to the attainment of the above objectives or any of them.
In June 1972 18 persons of Senior Executive level in the field of Purchasing and Materials Management in Government Departments, Defence 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