What is cooperative purchasing

What is cooperative purchasing?

Cooperative purchasing is when the buyers, suppliers, and other stakeholders of different businesses collaborate to buy goods, which increases the overall quantity and therefore gets the best price for a given good.

It can be a great way to save money on products or services, but it also has drawbacks. If you're using cooperative purchasing, you should ensure you understand how it works and the pitfalls. Many businesses use cooperative purchasing to save money on products and services.

For example, if you need laptops for your employees, you could ask other companies in your area if they want to buy them together. Then you can negotiate with the supplier to get a better price than any individual company could get on its own.