Collaborative Procurement

Collaborative procurement is a process where multiple organizations work together to buy goods or services. By combining their purchasing power, they can negotiate better prices, improve quality, and share resources. This teamwork reduces costs, avoids duplication, and increases efficiency for all involved. It’s like a group of friends pooling money to buy something in bulk, getting a better deal than if they bought individually. This approach is often used by government agencies, companies, and institutions to maximize value and achieve common goals through coordinated purchasing efforts.