Ten of Missouri’s public universities are examining the potential cost savings of participating in a procurement shared services program, according to a UM System news release.
“This program would leverage the contracts the UM System already has in place to other institutions, resulting in supply and processing cost efficiencies that could ultimately result in significant cost savings,” the news release stated.
The System is leading the 10 universities in a feasibility study to find opportunities to improve efficiency and cut costs.
“All of us are keenly interested in finding ways our universities can be more productive and efficient, including trimming costs wherever we can,” said Gary Allen, UM System Information Technology vice president Gary Allen. “This thorough feasibility study is designed to determine whether the idea of a strategic procurement program would be a good return on the investment each of us would need to make.”
The eight-week study will examine the combined annual purchasing power of the participating universities for many different products and services, according to the news release. These expenses include class and office technology, administrative supplies, travel, food and power.
“The study also will identify the required resources and preliminary costs, deliver a variety of business plan options, outline the preliminary program design and the return on investment for each institution,” the news release stated.
The universities are Truman State University, Northwest Missouri State University, Missouri State University, Harris-Stowe State University, Southeast Missouri State University, Missouri Western State University and the four campuses of the UM System.