What is Consortia Procurement?
Consortia procurement is a group-purchasing model in which two or more independent companies collaborate and aggregate their spend volumes to jointly meet their goods and services requirements. The key objectives of coming together are to increase the buying power of the individual companies and enhance savings by leveraging greater economies of scale and pre-negotiated prices with suppliers. This purchasing model is generally considered more suitable for small and medium enterprises.
Read more to learn about GEP’s procurement software solutions.