What is cooperative purchasing also known as?

Cooperative purchasing refers to the practice where multiple entities, such as government agencies or organizations, join together to procure goods and services. The primary goal of cooperative purchasing is to achieve economies of scale, resulting in cost savings and enhanced negotiating power due to the larger collective buying group.

The term "pooling" effectively encapsulates the essence of cooperative purchasing as it emphasizes the act of collectively bringing resources together for a common purpose. This collective approach allows participants to benefit from shared contracts and aggregated purchasing power. By pooling their buying needs, organizations can leverage better pricing and terms that might not be accessible individually.

The other options, while related concepts, do not fully capture the intent of cooperative purchasing in the same way. "Negotiated Contracts" refers more to the agreements reached through complex negotiations rather than the collaborative nature of pooling resources. "Collaborative Buying" is a broader term that encompasses various forms of cooperative efforts, but may not reflect the specific nature of pooling resources. "Joint Purchasing" is similar but emphasizes the partnership approach rather than the act of pooling itself. Thus, the term "pooling" closely aligns with the core concept of cooperative purchasing, highlighting the collaboration and resource sharing involved.