IMS content package
Note: You are currently viewing documentation for Moodle 3.2. Up-to-date documentation for the latest stable version of Moodle is probably available here: IMS content package.
IMS is a body which helps define technical standards for various things, including e-learning material. The IMS Content Packaging specification makes it possible to store chunks of material in a standard format which can be re-used in different systems, without having to convert the material into new formats.
Forthcoming in Moodle 1.6 is the ability to incorporate and deploy such "content packages" as easily as you might incorporate any other file.