Supplier Diversity in Education Purchasing Cooperatives
Most academic institutions have initiatives in place to promote equitable procurement activities through solicitation and inclusion of diverse suppliers. Even those who have not adopted formal policies typically look to provide opportunities to vendors that are more than 50% owned and operated by members of a minority group. It can be a challenge for procurement […]
The Bid Process Reimagined: The Truth About Purchasing Cooperative Contracts
As budgets get tighter and demands get higher, procurement teams are looking for innovative ways to streamline their process, comply with legal requirements and school initiatives, and control costs. Today, more schools, colleges, and universities are turning to purchasing cooperatives to leverage their massive buying power to negotiate better deals. Using cooperative contracts absorbs much […]
RFP Contract Meaning: Key Concepts for Higher Education Procurement
In the public sector, it takes 57 days on average from posting to awarding a contract—not including the time to prepare. Suppliers spend an average of 23.8 hours drafting responses for a single RFP. The larger the company, the more time it generally takes. If you make a mistake or overlook key items, it can […]
What Is an RFP Contract for Higher Education?
Many small private colleges are surviving quarter to quarter and looking at significant budget cuts. Larger institutions are adopting aggressive programs for cost control. Several well-known schools have announced layoffs and shut down programs. As a college or university procurement team member, you play a critical role in managing budgets efficiently, meeting compliance requirements, and […]
Navigating the World of Procurement Solicitations: A Handbook for Higher Ed Professionals
Today’s higher education procurement teams are truly wizards. While they can’t wave a magic wand and clear away all of the purchasing on their desk, they work the way a lot of magicians do. In magic, audiences can appreciate tricks without ever understanding the mechanisms that make it happen. In an efficient and streamlined procurement […]
Defining the Types of Solicitation Documents in Higher Education Procurement
Public higher education institutions publish an average of 29,000 solicitations every year. With increasing budget constraints and pressure to lower costs, the solicitation process in procurement is adding to the burden of college and university procurement teams. Managing the volume of solicitations and the procurement process can be unrelenting. To handle the volume efficiently, schools […]
Can Contract RFPs Help Higher Education Procurement Professionals?
Managing increasingly tight budgets, compliance regulations, and social responsibility requirements makes higher education procurement challenging and complex. Procurement professionals need to be highly strategic in their approach to balance these goals and ensure colleges and universities have what they need to operate. Contract RFPs help procurement teams overcome these challenges in several ways. Tailored Solutions […]
The Power of Effective Procurement Solicitation in Higher Education Institutions
Higher education institutions today face a complex financial landscape. While keeping things running smoothly, procurement teams are under significant pressure to find cost savings wherever they can. Cost pressures are not expected to improve over the coming years. According to the Chronicle of Higher Education, high schools will hit peak enrollment around 2025 and then […]
From Theory to Practice: Applying Solicitation Practices in Procurement for Higher Education
Colleges and universities spend about a quarter of their operating budgets procuring goods and services to keep their schools running efficiently, which adds up to billions of dollars every year. Today, those dollars are under intense scrutiny as budgets tighten. Some schools are seeing significant budget reductions, and at the same time, prices continue to […]
What Is Solicitation in Higher Education Procurement?
As colleges and universities struggle with financial stress and budget challenges, there is mounting pressure on procurement teams to find innovative ways to lower costs. As many schools have cut programs and staff, there are few obvious answers left when it comes to cost control. Higher education institutions are turning inward, taking a more critical […]
