OU Procurement Implements New System to Reduce Costs and Increase Savings
Starting July 1, 2023, OU Procurement will begin expanding and transitioning procurement services into the OU Marketplace. This rolling integration is a significant step toward enhancing university procurement processes and streamlining university- and system-wide operations.
Changes and User Impact
The July 1 implementation date will not immediately affect how faculty and staff make purchases. Departments will be moved to the system over the next several months to ensure a smooth transition and maximize its benefits. During the transition efforts, OU Procurement will conduct individual departmental training sessions to prepare staff with the necessary skills and knowledge to effectively use the system and take full advantage of its features.
The only impact that faculty, staff and those interested in doing business with university will see on July 1 is how university solicitations are publicized and processed. The new system offers a more integrated approach to sourcing events by allowing the university to issue solicitations and receive bids electronically, expand reach to suppliers through automated notices, increase competition to reduce costs, and collaborate with stakeholders and suppliers in real time.
OU Procurement will also schedule a series of question-and-answer sessions to allow faculty, staff and suppliers to learn more about the new system and changes.
Improved Capabilities
The new system brings a range of benefits that will make acquiring goods and services easier, more efficient and more transparent. Its user-friendly interface and features will empower faculty and staff to locate university contracts and find more goods and services.
One of the key advantages of the new system is its ability to identify savings opportunities and reduce costs. Through more robust tracking and reporting capabilities, OU Procurement will be able to gain valuable insights into purchasing patterns and help make data-driven decisions. This information will allow the university to optimize its procurement strategies, negotiate better contracts and leverage its buying power for cost savings.
Expanded Supplier Portfolio
The new system will expand the university’s supplier portfolio by providing a comprehensive database of suppliers or other businesses interested in doing business with the university. This investment will also help local and small businesses connect with university procurement opportunities. By connecting with these suppliers, the university will foster stronger relationships within the community and support the local and state economy.
Existing university suppliers will receive invitations to register in the new system in the coming weeks.
University Procurement looks forward to the positive impact that the new OU Marketplace will have on faculty and staff and the overall efficiency of our university. This integration represents OU Procurement’s commitment to continuous improvement and delivering goods and services seamlessly from the best available suppliers.
