When you become an independent business owner, you’re always thinking of ways to reduce your expenses, manage your finances better and stay ahead of the competition. One of the best ways to solve all three is to join a buying group also known as a group purchasing organization (GPO).
DealTrack Blog — Industry Sector: Buying Groups
Buying groups, as the name suggests, are formed to give buying power to smaller independent companies through purchase consolidation. Whilst buying groups don’t typically have control over the systems implemented by members, they do need information from members in order to negotiate the best possible deals on their behalf.
For spring / early summer we have a series of three webinars planned to share more detail about our 3 step approach to profitable growth through:
Mastering rebate accounting and maximising profit from rebate deals;
Being prepared for and executing on smarter supplier negotiations;
Collaborating with suppliers for mutually profitable growth.
Topics: Rebate Management, Procurement Excellence, Rebate Management & Compliance, Rebate Accounting, Industry Sector: Building Materials, Industry Sector: Wholesale Distribution, Rebate Management & Growth, Industry Sector: Retail, Industry Sector: Buying Groups, Rebate Management System
In order to prepare for major negotiations with suppliers, businesses often have to extract historical data from multiple systems: buying groups need information from their members' systems, newly merged businesses need information from different parts of the group.
We've had great feedback from our recent webinar, so I wanted to share the content with those who didn't make it on the day. This blog provides a summary of the topics we discussed:
Founded in 2005, XLVets is one of the UK's leading veterinary groups sharing experience, knowledge and skills whilst providing economies of scale for member practices. On behalf of its members, the group establishes deals for pharmaceutical supplies and accessories with manufacturers and wholesalers. It also works alongside academic bodies and commercial research and manufacturing companies to place its members at the forefront of veterinary science.
Over 150 premises
More than 500 vets
Landmark Wholesale Buying Group is a major buying group that provides a centralised trading and marketing operation on behalf of its members — leading independent wholesalers. The group represents members throughout the UK and has a turnover of £1.8 billion. One of their key roles is to organise the complex process of managing member overrider payments.