What does 'cooperative purchasing' refer to?

Cooperative purchasing refers to a collaborative procurement strategy where multiple public entities, such as government agencies or municipalities, come together to jointly procure goods or services. This approach allows them to leverage their collective purchasing power, which can lead to better pricing, reduced administrative costs, and efficiencies in the procurement process. By pooling their buying capacity, these entities can often secure more favorable contract terms and access a wider range of suppliers than they might individually.

This method fosters a spirit of collaboration and resource sharing among public entities, ensuring that they can achieve their procurement objectives more effectively while also utilizing taxpayer dollars more efficiently. The concept is particularly beneficial when dealing with common types of purchases, such as office supplies, equipment, or services that multiple entities need, thereby maximizing both cost savings and operational efficiency.