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A group purchasing organization leverages the power of a group of businesses and helps them attain discounts on products they’re already buying. GPOs partner with larger businesses, known as suppliers or vendors, to provide their members with exclusive savings on products they need to run their business. GPOs are typically funded by administrative fees by suppliers, and there’s no annual cost for small businesses to join.
There is a one time guaranteed refundable administrative set up cost.
The most obvious advantage of a purchasing group is the scale economy. The volume of the aggregated purchase demands, such as a network of businesses coming together to order supplies, gives the individual businesses access to scale economy and consequent purchasing power that they could not hope to obtain alone.