There are plenty of reasons why more academic institutions are relying on cooperative contracts for procurement, but here’s the biggest one: saving money.
Educational institutions that leverage cooperative purchasing agreements often reduce costs by 15–25% versus buying independently. By combining demand across hundreds or thousands of schools across the country, procurement cooperatives like E&I Cooperative Services can achieve significant volume discounts that save you money. Because E&I focuses its efforts exclusively on the education sector, its cooperative contracts include terms and conditions that are tailored to meet the unique needs of schools.
That’s just the beginning, however. With budget constraints, rising prices, and increased pressure to improve efficiency, there’s a long list of reasons why educational institutions are embracing cooperative purchasing agreements. Here are just a few.
Managing procurement independently requires extensive effort—from competitive solicitation to vetting suppliers to negotiating contracts and ensuring compliance with regulations. Cooperative contracts simplify this process by providing pre-negotiated agreements that you can leverage immediately.
This reduces the burden on your procurement teams and allows you to focus on strategy rather than buying.
Educational institutions must adhere to strict purchasing guidelines and compliance requirements. Cooperative contracts help mitigate risk by ensuring that suppliers and agreements meet legal and regulatory standards.
Organizations like E&I Cooperative Services conduct thorough due diligence on suppliers, so universities can be confident that they are working with reputable vendors who meet the necessary compliance requirements.
By utilizing cooperative contracts, you gain access to a wide network of suppliers that have been selected based on quality, reliability, and pricing.
Many of these suppliers offer innovative products and services that you might not be able to access on your own. This ensures you can acquire high-quality solutions while remaining on budget.
This is particularly valuable for smaller institutions or those with limited resources. For example, E&I Cooperative Services has category specialists with a deep understanding of suppliers and product lines to help guide you toward the solutions you need.
“E&I provides a team of professionals to help us with our day-to-day jobs,” said Roxanne Venegas, Purchasing Manager at Joliet Junior College. “We have a dedicated sourcing consultant who helps us find contracts and connect with the vendors.”
One common misconception about cooperative contracts is that they limit flexibility. While cooperative purchasing agreements do include standardized terms, you can often customize contracts to meet your specific needs. You may be able to adjust service levels, add optional features, or tailor your spending based on your budget.
Cooperative contracts often include base pricing discounts, but do not mandate spending commitments. Some agreements may offer different tiers with increased discounts for higher purchasing volumes.
Academic institutions need to align their procurement strategies with broader goals, such as sustainability, supplier diversity, or long-term cost reduction. Cooperative contracts offer a strategic advantage in this regard.
Through E&I Cooperative Services, you get access to a broad range of diverse and minority-owned businesses and suppliers who prioritize environmentally friendly solutions. You can also benefit from a no-cost Strategic Spend Assessment that analyzes your current spend to find ways to lower your costs by switching to cooperative agreements and bringing more spend under contract.
When you partner with the right purchasing cooperative, you get enhanced value.
Because cooperative contracts offer a significant source of business for suppliers, they are more likely to provide additional benefits. They have a significant incentive to provide high service levels and resolve any conflicts quickly to avoid losing a big chunk of business.
E&I helps you manage supplier relationships and works closely with member institutions to understand their needs to create more value.
“We’re not just taking advantage of contracts, but E&I is listening to the types of contracts that we need and new ways to solicit those business partners to get more value or better value,” said Rachel Capo, Director of Procurement Services for Rensselaer Polytechnic Institute.
For institutions seeking a more efficient and cost-effective approach to procurement, cooperative contracts are proving to be a smart solution. Institutions that embrace this model can save money and free up valuable resources.
There is no cost to become a member at E&I and no minimum purchasing requirement.
Take a look at the cooperative contracts available through E&I Cooperative Services, and join the nearly 6,000 member institutions that are already saving money.
