Becoming a member of a group purchasing organization (GPO) can open up new doors for your business. In this blog post, we’ll take a deep dive into some of the benefits you can expect when you become a GPO member, and provide greater insight in to how you can improve operations and procurement at your organization by joining a GPO.
Take Advantage of a Broad Range of Cost Savings
Group purchasing organizations are unique in that they provide members with a broad range of cost-saving opportunities that they would otherwise not be able to access. GPOs leverage the purchasing power of their members to negotiate special pricing with industry-leading suppliers on a wide scope of contracted items, ensuring members are able to obtain lower pricing on goods and services. Additionally, GPOs may provide their members with limited-time exclusive promotions thanks to special agreements made with suppliers. These promotions vary by GPO and deliver supplementary savings that can assist in bolstering a business’s financial strength. In some cases, savings opportunities can be extended to individuals on your team, as GPOs often offer discounts to member employees on personal products and services.
Reinforce Your Supply Chain Against Disruptions
Your ideal GPO partner will act as an extension of your procurement team working to reinforce every aspect of your supply chain. Many GPOs, like CNECT, make this possible by offering a broad contract portfolio of industry-leading suppliers and advanced strategies to ensure your purchasing processes are fully optimized. A GPO partner can also work to protect your organization in the face of supply disruptions. For instance, during the COVID-19 pandemic, CNECT assisted its members by sourcing new high-quality products and services in the wake of the global disruptions imposed by national lockdowns. Additionally, GPOs can be your go-to source for alternative sourcing options during other disruptions such as shortages and product recalls.
Capitalize on Supply-Chain Data and Analytics
GPOs, including CNECT, deliver services that assist members in optimizing their supply-chains to the fullest. These additional services include business analytics, wherein, procurement experts provide utilization quotes, price comparisons, or account payable analyses to provide recommendations that align with a business’s supply chain goals. A reputable GPO will also back up these services with years of experience ensuring that you’re making the most informed business decisions possible.
A Wide Breadth of Industry Knowledge
Some GPOs bring decades of experience and knowledge to the table, and they’ll share that knowledge via educational content. For instance, at CNECT we share our over 40-years of industry experience with our members in the form of blog posts, educational webinars, and newsletters, all at no additional charge to our members. Through this share of knowledge, our goal is to deliver valuable insight that you can use to feel confident in your business decisions.
The CNECT GPO Advantage
CNECT is a group purchasing organization that specializes in providing supplies and services for a wide breadth of industries. We’re an affiliate of Premier Inc., a healthcare improvement company. Through this partnership, CNECT members can take advantage of over $67 billion in purchasing power in the form of special pricing and discounts. When you become a member of CNECT, you’ll gain the guidance and expertise of a team of nationwide representatives dedicated to supporting your organization and providing custom savings. Click here to learn more about what makes CNECT GPO the right GPO choice for your organization.