Group Purchasing Agreements: Best Practices for Higher Education Institutions
You have a wide variety of options when it comes to group purchasing organizations, sourcing cooperatives, and group purchasing agreements. Which is right for you? We have some best practices to help you make the best decision for your college or university and ensure you get maximum value from the relationship. Best Practices for Group […]
What Is a GPO Contract? An In-Depth Explanation for Higher Education Institutions
As colleges and universities navigate tight budgets and look for cost savings, group purchasing organizations (GPOs) are becoming increasingly important. By leveraging the aggregated purchasing power of their members, GPOs can typically produce savings of 10 to 15% versus what schools could negotiate on their own. This provides bottom-line savings in addition to streamlining procurement […]
GPO Contracts: Insights for Educational Institutions
As colleges and universities increasingly look for opportunities to reduce costs, group purchasing organizations (GPOs) have become an increasingly attractive option. By leveraging the purchasing power of multiple institutions, GPOs can produce better pricing and more favorable terms. The details in these contracts are important, so we will explain how GPO contracts work and what […]
What Is a GPO Contract? Key Differences of Cooperatives for Higher Education
As colleges and universities look for additional ways to control costs and lower expenses, group purchasing organizations (GPOs) have become an even more popular option. However, there can be significant differences between different GPOs, GPO contracts, and cooperatives. We will explain the key differences you need to know about and provide some tips on how […]
The Value of GPO Contracts During Financial Challenges for Universities
The so-called enrollment cliff has created significant financial shortfalls for many colleges and universities. For some, it is at a crisis level. A May 2024 headline in Fortune summed up the challenge this way: “Tuition money sees the biggest plunge in 40 years.” However, tuition declines are just one of the challenges higher education institutions […]
Why More Universities Are Turning to Group Purchasing Organizations for Cost Savings
The University of Lynchburg in Lynchburg, Virginia, has shut down 17 academic programs 25 academic minors, and MBA tracks; 80 staff and faculty positions are being eliminated. Brandeis, in Waltham, Massachusetts, is eliminating 60 positions to reduce a projected $2 million budget deficit. The University of the Arts in Philadelphia announced a permanent closure as […]
Top 8 Reasons Why Your College Should Join a Group Purchasing Organization
We do not have to tell you about the current economic environment in colleges and universities. To say it is challenging is an understatement. Procurement teams are being asked to rise to the challenge and find new ways to reduce costs and streamline processes to produce tangible savings. In today’s academic institutions, the pressure to […]
What Is a Group Purchasing Organization? The Key to Overcoming Budget Challenges for Higher Education
It seems like everything is more expensive these days. When that happens at the same time budgets are decreasing, it can cause significant problems. In business, it means less profitability. For higher education institutions, it typically means cutbacks. Most higher ed procurement teams are under intense pressure to lower costs without sacrificing quality. Group purchasing […]
What Makes a Great Group Purchasing Org? Key Features and Benefits
A group purchasing organization can leverage economies of scale by aggregating purchasing across multiple organizations, providing lower prices and streamlined procurement. However, not all GPOs work the same way. You need to understand the key features and benefits that make the best group purchasing organization for you before jumping in. What Makes for the Best […]
The Advantages of Group Purchasing: Maximizing Value and Efficiency
Joining a group purchasing organization (GPO) can be a great way to save money and create a more efficient procurement process for your school. However, not all GPOs work the same way, so you need a clear understanding of the different types. Make sure you have a clear understanding of how group purchasing organizations work […]
