Key Trends in Higher Education Procurement for 2024
The National Association of Educational Procurement (NAEP) surveyed chief procurement officers, chief business officers, and higher education procurement managers or directors about their top focus areas in 2021. Here are the priorities they found: Business process transformation Building strong teams Contracting & risk management Financial resource management Strategic alignment of sourcing and contracting Diversity, equity […]
Higher Education Procurement Demystified
Colleges and universities are facing significant challenges. Declining enrollments are forcing educational institutions to take an even closer look at spending and budgets. Many schools are seeing cutbacks and budget constraints they have never seen before. Understanding the Higher Education Procurement Process Outside of procurement teams, most people do not understand the difference between procurement […]
Why Cooperative Buying Is Important for Higher Education Procurement
Higher education can be both big and surprisingly small. It is a supportive culture where teams learn from each other and build upon their successes. This is true across multiple departments and disciplines, including higher education procurement. That spirit is embodied in cooperative buying. With declining budgets and increasing pressure to find efficiencies, higher education […]
How to Leverage E&I’s Cooperative Buying Benefits in Higher Education
While buyers can purchase goods or services, procurement teams have to manage the entire procurement vs purchasing process. This means end-to-end sourcing, negotiating, contracting, and managing vendor relationships. Cooperative buying streamlines the entire process by making pre-negotiated contracts available, generally at significantly discounted prices. E&I Cooperative Services® is a member-driven organization that focuses exclusively on […]
How Does Higher Education Procurement Work
The landscape in education is changing rapidly. Colleges and universities are dealing with declining enrollment and lower tuition fees. While overall enrollment rose in the fall of 2023, freshman enrollment numbers continue to drop. Inflation, higher supply costs, and staffing challenges are all eating away at budgets. For everyone involved in procurement and purchasing, there […]
How Do Education eProcurement Systems Work?
Schools and universities typically spend as much as 25% to 35% of their operating budgets on goods and services. Whether you’re overseeing a large procurement team or handling purchasing locally, the need for an efficient system to navigate procurement and secure the best deals is paramount. An eProcurement system is a digital platform designed to […]
Key Trends in Education eProcurement
Collectively, public and private universities in the U.S. spend about $600 billion annually on goods and services. Public elementary and secondary schools spend another $870 billion. With more than $1.5 trillion in purchases each year, many institutions struggle to control spending or fail to take advantage of consolidation and cooperative purchasing to lower costs. Now […]
Different Types of Education eProcurement Solutions and Who They Benefit
Despite the billions of dollars that are spent in the education sector each year, a surprising number of transactions still take place manually. This can be labor intensive and cost you valuable time and money. eProcurement solutions can streamline the procurement process, enabling you to more effectively manage and consolidate your spending and make more […]
Your Guide to Today’s Education eProcurement Tools
In today’s challenging economic landscape, it’s more important than ever for educational institutions to prioritize increased control of their spending. As costs escalate and budgets tighten, procurement teams are facing heightened scrutiny while continually navigating the balance between spending and essential needs. eProcurement solutions help accelerate procurement cycles and control costs. eProcurement Definition eProcurement is […]
Education eProcurement 101: Examples, Software, Benefits, and More
In an era of rising prices, budgetary constraints, and uncertain enrollment numbers, there is increasing pressure to streamline processes, reduce costs, and do more with less. Today’s higher ed institutions are experiencing a significant drop in tuition revenue, contributing to a 70% increase in the number of colleges facing financial distress. This situation is particularly […]
