The Strategic Connection Between Sourcing and Procurement and Why it Matters

If you’re working in education today, you know the challenge. You’re tasked with providing high-quality services and optimizing diminishing resources. With increasing budget constraints and the high price of goods and services, a strategic approach to sourcing and procurement is crucial. You can no longer just renew contracts or go to the same suppliers without […]

Supply Chain Secrets Higher Ed Procurement Officers Need to Know

Over the past year, supply chains have more or less stabilized with fewer disruptions and more available inventory. Still, costs remain high for goods and services and remain challenging for higher education institutions that are operating under budgetary constraints. How do schools improve supply chain procurement and reduce costs? By relying on their procurement teams, […]

Maximizing Value Despite Rising Costs: The Case for Educational Purchasing Cooperatives

There are two truths facing educational institutions when it comes to procurement. Costs have increased for nearly every category of goods and services. At the same time, there are significant budgetary constraints, resulting in renewed efforts to reduce expenditures. Procurement teams are on the front lines of maximizing value and ensuring dollars are spent wisely, […]

Generating Revenue by Optimizing Indirect Procurement in Higher Education

Indirect spending can account for 35% to 45% of an institution’s expenses, yet it often gets overlooked as a place to save money and generate revenue. McKinsey research shows that a focused approach to category management can reduce indirect costs by 10% to 15% with a fairly short turnaround. About eight in 10 organizations see […]

Uncovered Opportunities: How Category Management Adds Value to Higher Education Institutions

Colleges and universities today are looking for innovative solutions to control costs and create efficiencies when purchasing goods and services. By organizing procurement activities around specific categories of spending, category management in procurement enables academic institutions to leverage their buying power and create strategic relationships to drive greater value. What Is Category Management in Procurement? […]

Leveraging Purchasing Cooperatives to Streamline Sole Source Procurement

Sole source procurement poses unique challenges in the education sector. When one supplier can provide a specific product or service, it can make procurement more challenging to negotiate favorable terms and justify the decision to comply with procurement policies. Because goods or services are only available from one supplier, procurement takes place without a competitive […]

The Hidden Costs of Neglecting Category Management in Higher Education

For most colleges and universities, the stakes have never been higher. States are pulling back funding, budgets are staying flat or shrinking, and enrollment is down while the costs of goods and services continue to rise. Schools are being forced to make crucial financial adjustments to meet budgetary constraints. Procurement teams play a key role […]

Using Procurement Categories to Boost Higher Education Financial Strength

Maximizing-Value

Higher education is in a tenuous state these days. Increased costs for goods and services, declining enrollments, thinning state support, and growing concerns about the value proposition of spiraling tuition costs are taking a toll. A Fitch Ratings market analysis forecasts challenges ahead, anticipating a deteriorating credit environment for higher education and additional economic headwinds—such […]