Collaborative Procurement Definition
Collaborative procurement is a process in which two or more organizations work together to source, procure, and manage goods and services. The goal of collaborative procurement is to improve efficiency and effectiveness while reducing costs.
In order to achieve these objectives, collaborative procurement typically involves the following activities:
1. Planning and Strategy: Organizations involved in collaborative procurement work together to develop a shared vision and strategy. This includes identifying common needs and objectives, as well as developing processes and systems that will be used by all parties involved.
2. Sourcing and Procurement: Once a shared vision and strategy has been established, organizations work together to source suppliers and negotiate contracts. This includes conducting market research, issuing Request for Proposals (RFPs), evaluating bids, and awarding contracts.
3. Implementation and Management: Once a contract has been awarded, organizations involved in collaborative procurement work together to implement and manage the agreement. This includes setting up purchase orders, coordinating deliveries, invoicing, and monitoring compliance with the terms of the agreement.
