Cooperative Contracts are King During Economic Uncertainty
If procurement professionals are anything, they’re resilient! No matter what challenges come the way of public agencies, they adapt and roll with the punches.
If procurement professionals are anything, they’re resilient! No matter what challenges come the way of public agencies, they adapt and roll with the punches. Even with staffing shortages and supply chain issues, the procurement world keeps moving. At CompareCoOps, we aim to help that trend continue by giving procurement professionals everything they need to do their jobs as efficiently and quickly as possible.
Some concerns that are coming up a bit more frequently than usual in the procurement world are the current rate of inflation and a potential recession. While inflation is temporary and there’s certainly no guarantee of a recession, it never hurts to be prepared. After all, procurement professionals are great at weathering a storm. One quick, simple, and impactful way to prepare yourself for uncertainty is to use CompareCoOps to leverage cooperative contracts.
Cooperative Contracts Offer Agility and Speed
When things become unpredictable, the ability to move quickly becomes extremely important. Cooperative contracts are the perfect procurement solution when you’re looking to get things done fast. CoOp contracts have already been competitively bid, meaning you skip the lengthy bidding process. They have relevant compliance details worked out as well, saving you a lot of negotiating time.
Cooperative purchasing also allows you to combine your purchasing power with other public agencies to get better value. Let’s say for example, you’re a city looking for IT Staffing contracts. You can work with other local cities who also need IT Staffing and combine your purchasing power in order to leverage a better deal than you would have been able to get on your own. That’s something everyone could use whether dealing with inflation or not.
CompareCoOps Makes Using Cooperative Contracts Easier Than Ever
The only thing better than cooperative contracts is leveraging CompareCoOps to use them. Think of us as a way to better verify the benefits and value of CoOp contracts. We have tons of great contracts across a wide range of categories and suppliers. You can search categories, request quotes, communicate with/evaluate suppliers, run due diligence, and make decisions all in one place. When the process is complete, you get a comprehensive report you can present to your board or other relevant parties.
The best part? CompareCoOps is completely free for public agencies. Signing up only takes a minute, then you’re on your way to better value and more agility through cooperative purchasing.
It never hurts to be prepared. As a procurement professional, you already know that. Whether you’re dealing with inflation, concerned about potential economic issues, or simply want to arm yourself with everything you need to manage uncertainty before it occurs, the combination of using smart procurement technology like CompareCoOps to find and use cooperative contracts will set you up for success.
