What is a Higher Ed Cooperative Agreement? A Comprehensive Look at Their Role in Procurement
Cost-efficiency, streamlined processes, and strategic sourcing. It sounds simple, but putting these practices into action is hard work. Procurement teams in higher education face serious challenges, and it doesn’t appear they’ll get significant help anytime soon. The financial outlook for higher education appears problematic. Moody’s Ratings, S&P Global, and Fitch Ratings all cite significant financial […]
Solving Complex Procurement Problems Through Cooperative Agreements
Academic institutions must meet complex and often overlapping needs while navigating a maze of regulations, initiatives, compliance requirements, and budget constraints. Procurement professionals can sometimes feel like that mouse running a maze, constantly hitting dead ends and having to circle back to find a better pathway. Then, just when the end is in sight, challenges […]
Simple Reasons Why Higher Ed Cooperative Agreements Help Procurement Pros
Procurement and finance teams that handle purchasing for colleges and universities walk a tightrope these days, due to complex compliance regulations, policies, and institutional initiatives. At the same time, there are increasing budget constraints. It can be challenging to keep your balance while trying to meet all of these objectives and make sure your institution […]
Is a Cooperative Agreement Legally Binding? What Higher Ed Sourcing Pros Should Know
What Is a Cooperative Agreement? A cooperative agreement is a contract whereby two or more parties join together to work collaboratively. It can be as simple as an agreement to provide goods or services or significantly more complex, with legal obligations for all parties. Not all cooperative agreements are the same. A general higher ed […]
Category Management in Higher Ed Procurement: A Comprehensive Guide for Leaders
Navigating financial and budgetary challenges is becoming increasingly complex for colleges and universities. Concerns about enrollment, changes in governmental policy, rising costs, and even global unrest are affecting how colleges and universities need to evolve their procurement practices. Academic institutions must find innovative ways to reduce spend to meet budget constraints while ensuring they have […]
What Does a Category Manager Do? Insights for Higher Ed Procurement Leaders
From strategic sourcing to managing supplier relationships, category managers can guide procurement decisions, creating a more stable supply chain and delivering savings. Colleges and universities increasingly turn to category management to shape their strategies and achieve their goals. What does a category manager do in higher ed procurement, and exactly what is a category manager […]
How Category Management Supports a Smarter Approach to Budget Challenges in Higher Ed Procurement
Nearly every college and university across the country is concerned about its finances. For some, it’s a dire situation. Even institutions that haven’t felt the pinch yet are not immune, as higher ed analysts anticipate continued budget cuts. Schools are being forced to eliminate programs , redesign learning experiences, and make increasingly difficult procurement decisions. […]
Solving Procurement Challenges with Category Management in Higher Education
In most colleges and universities, procurement teams have historically been viewed as buyers focused solely on transactional processes. In many cases, procurement responsibilities were delegated to department heads, or, in smaller schools, handled exclusively by finance team. That’s all changed. Today’s procurement professionals are strategic-problem solvers, immersed in data analysis, research and negotiations, and advanced […]
How Category Management Drives Higher Ed Procurement Success
When a prominent western US university was looking to consolidate resources and save money, it faced a few hurdles. The biggest one was that departments had the discretion to select from several contract suppliers for janitorial and sanitation suppliers, which caused overspending and disjointed strategies when it came to janitorial purchasing. This is a common […]
From Planning to Implementation: Making the Most of Higher Ed Cooperative Agreements
Colleges and universities are increasingly leveraging cooperative agreements . By utilizing contracts that are already in place from sourcing cooperatives like E&I Cooperative Services, you can meet compliance goals and reduce costs. In this article, we will discuss “What is a cooperative purchasing agreement in higher education?” and how you can get the most out […]
