cooperative purchasing

Cooperative purchasing is a collaborative approach where multiple organizations, such as government agencies or nonprofits, team up to buy goods and services together. By pooling their purchasing power, they can negotiate better prices, terms, and conditions than they could individually. This method reduces costs, improves efficiency, and leverages collective bargaining to access higher-quality products or services. Essentially, it’s a strategic partnership that benefits all participating entities by saving money and streamlining procurement processes through shared resources.