Benefits of Using Preferred Vendors

Preferred Vendors are those that have been awarded a contract by PRS for use by all departments and schools. We strongly encourage you to utilize Preferred Vendors.

Benefits of using Preferred Vendors:

  • Maximizes overall best value to the University
    • Preferred Vendors deliver the best overall value to the University based on the price, delivery capabilities, quality, past performance, training, financial stability, ease of ordering, etc.
  • Ease of ordering
    • It's easier to order from Preferred Vendors, especially those with catalogs enabled in the iBuyNU marketplace.
    • Reduced transaction costs (total costs of acquisition).
  • Improved productivity and efficiency of department personnel
    • Departments/schools are not required to solicit other bids when choosing to utilize a Preferred Vendor because this activity has already been performed by PRS.
    • Terms and conditions have also already been established.
    • Allows departments and schools to better focus on their core responsibilities, which are primarily teaching, research, and other administrative duties.
  • Savings due to consolidating purchasing power and leveraging volume
    • Consolidation of usage drives up volume, providing incentive for vendors to offer the best possible price.
    • The price on contracts is the actual price departments/schools will pay. All savings are realized by the ordering department/school. If pricing is ever improved, everyone benefits.
  • Reduced risk due to improved contract administration
    • Service levels are higher because these vendors have a stronger commitment to the University.
    • PRS monitors the performance of Preferred Vendors to make sure they comply with the contract agreement.
    • PRS has considerable leverage and is able to hold these vendors more accountable in ensuring the products and services meet the expectations of departments/schools.
    • If expectations are not met, PRS can assist in resolving the disputes.
  • Improved access to information, to further improve contracts.
  • Better management control and more automated adherence to policy. This minimizes the ethical questions about vendors you are purchasing from.