Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Cooperative Procurement (Purchasing)”
  • Cooperative Procurement (Purchasing)

    1. The action taken when two or more entities combine their requirements to obtain the advantages of volume purchases, including administrative savings and other benefits. 2. A variety of arrangements, whereby two or more public procurement entities purchase from the same supplier or multiple suppliers using a single Invitation for Bids (IFB) or Request for Proposals (RFP). Cooperative procurement efforts may result in contracts that other entities may “piggyback.” See also: Consortium.



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