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Benefits of Using Preferred Vendors

Preferred Vendors are those that have been awarded a contract by Purchasing and Strategic Sourcing for use by all departments and schools. We strongly encourage you to utilize 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 Purchasing and Strategic Sourcing.
  • 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.
  • Purchasing and Strategic Sourcing monitors the performance of Preferred Vendors to make sure they comply with the contract agreement.
  • Purchasing and Strategic Sourcing 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, Purchasing and Strategic Sourcing can assist in resolving the disputes.

Improved access to information

  • Leading to further improved contracts.

Better management control and more automated adherence to policy

  • Minimizes the ethical questions about vendors you are purchasing from.