Generating Revenue by Optimizing Indirect Procurement in Higher Education
Indirect spending can account for 35% to 45% of an institution’s expenses, yet it often gets overlooked as a place to save money and generate revenue. McKinsey research shows that a focused approach to category management can reduce indirect costs by 10% to 15% with a fairly short turnaround. About eight in 10 organizations see […]
Uncovered Opportunities: How Category Management Adds Value to Higher Education Institutions
Colleges and universities today are looking for innovative solutions to control costs and create efficiencies when purchasing goods and services. By organizing procurement activities around specific categories of spending, category management in procurement enables academic institutions to leverage their buying power and create strategic relationships to drive greater value. What Is Category Management in Procurement? […]
Leveraging Purchasing Cooperatives to Streamline Sole Source Procurement
Sole source procurement poses unique challenges in the education sector. When one supplier can provide a specific product or service, it can make procurement more challenging to negotiate favorable terms and justify the decision to comply with procurement policies. Because goods or services are only available from one supplier, procurement takes place without a competitive […]
The Hidden Costs of Neglecting Category Management in Higher Education
For most colleges and universities, the stakes have never been higher. States are pulling back funding, budgets are staying flat or shrinking, and enrollment is down while the costs of goods and services continue to rise. Schools are being forced to make crucial financial adjustments to meet budgetary constraints. Procurement teams play a key role […]
Using Procurement Categories to Boost Higher Education Financial Strength
Higher education is in a tenuous state these days. Increased costs for goods and services, declining enrollments, thinning state support, and growing concerns about the value proposition of spiraling tuition costs are taking a toll. A Fitch Ratings market analysis forecasts challenges ahead, anticipating a deteriorating credit environment for higher education and additional economic headwinds—such […]
Higher Education Procurement Blueprint: How Category Management Boosts the Bottom Line
What Is Category Management in Procurement? Category management in procurement is a strategy used to group similar types of goods and services to improve buying efficiency and reduce costs. Instead of considering each purchase separately, category management takes a more holistic approach to optimize value across both direct and indirect procurement categories. Effective category management […]
The Cooperative Purchasing Playbook: A Blueprint for Educational Procurement Success
Budget constraints. Limited resources. Rising prices. Supply chain risk. There are plenty of challenges in procurement and supply chain management. Sourcing and procurement leaders have a significant job to do and are being asked to provide strategic solutions to optimize value. At the same time, there is a growing list of policies and initiatives to […]
E&I Announces its 2024 Annual Business Partner Awards
March 2024 | Collegiate Travel Planners, Patterson Dental, Ferguson, and Enterprise Recognized
Recycling on Campus: How to Encourage Sustainability
Recycling on campus can make a significant difference in reducing waste. In a 2023 competition, more than 3.4 million college students and staff donated, composted, and recycled a staggering 29.4 million pounds of waste. That included recycling more than 205 million single-use plastic bottles and preventing the release of nearly 30,000 metric tons of carbon […]
Finding Customizable Weatherproof Recycling Bins for Schools
Ninety-two percent of students say that sustainability is something that all schools should actively pursue and promote. Students are increasingly interested in learning about sustainable practices, educational options highlighting green initiatives, and making eco-friendly choices. Schools need a broad approach to sustainability, including curricula, ongoing education, and visible signs of commitment to meet student and […]
