Co-Operative Procurement Definition
In the public procurement context, cooperative purchasing (or co-operative procurement) is an arrangement whereby two or more public bodies agree to pool their resources in order to jointly procure goods or services.
This type of arrangement can offer a number of advantages to participating organizations, including:
-Increased buying power: By banding together, participating organizations can increase their buying power and leverage better terms from suppliers.
-Improved efficiency: Cooperative purchasing arrangements can lead to increased efficiency in the procurement process, as well as economies of scale in the purchase and delivery of goods or services.
-Shared risk and cost: By sharing the risks and costs associated with procuring goods or services, participating organizations can minimize their individual exposure.
