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What is Cooperative Purchasing? Competitive solicitations for goods & services Buying power & economies of scale Reduces costs Increases overall transparency Prevents duplication of traditional public
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Cooperative purchasing is a procurement strategy in which two or more entities engage in a joint buying process to secure goods or services.
Depending on the organization's policies and regulations, various entities such as government agencies, educational institutions, and non-profit organizations may be required to file for cooperative purchasing.
To fill out cooperative purchasing, entities must collaborate with other potential buyers to create a joint purchasing agreement and adhere to the established guidelines.
The purpose of cooperative purchasing is to leverage the combined buying power of multiple entities to secure better pricing, terms, and conditions for goods or services.
Information such as the participating entities, the products or services being purchased, the agreed-upon terms, pricing details, and contract length must be reported on cooperative purchasing.
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