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In the United States, a group purchasing organization (GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. [1] Many GPOs are funded by administrative fees which are paid by the vendors that GPOs oversee.
Topco Associates LLC is the largest American retail food GPO (Group Purchasing Organization) and the sixth largest private company in Illinois. [1] [2] History.
Group buying, also known as collective buying, offers products and services at significantly reduced prices on the condition that a minimum number of buyers would make the purchase. Origins of group buying can be traced to China , where it is known as Tuán Gòu ( Chinese : 团购 ), or team buying .
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This is possible due to the sheer volume of buyers, which drives down prices and allows each group or individual to benefit from economies of scale. Collective buying power plays a good role in reducing costs, as it ensures that purchasing decisions are made with consideration for both quality and cost-saving measures.
Purchasing cooperatives bring together multiple organizations, such as government entities, educational institutions, and non-profit organizations, to collectively pool their purchasing power. These cooperatives negotiate and establish pre-negotiated contracts with suppliers, covering a wide range of products and services.
The company began as a group purchasing organization (GPO) which offered its customers medical supply discounts. By August 2014, MedAssets had become the largest GPO in the United States. [ 6 ] The company became publicly traded in 2007. [ 7 ]
WASHINGTON (Reuters) -The FBI has been investigating a longtime Exxon Mobil consultant over the contractor's alleged role in a hack-and-leak operation that targeted hundreds of the oil company’s ...
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