cooperative purchasing
nounUK /kəʊˈɒpərətɪv ˈpɜːtʃɪsɪŋ/
US /koʊˈɑːpərətɪv ˈpɜːrtʃəsɪŋ/
When a group of people buy things together to get a better price.
The neighbors used cooperative purchasing to buy a big order of seeds for their gardens.
RELATED WORDS
OTHER MEANINGS
2. A business strategy where companies combine orders to lower costs.
The two small shops saved money through cooperative purchasing of office supplies.
3. A system where members of a co-op pool their money to buy goods in bulk.
The food co-op relies on cooperative purchasing to stock affordable produce.
4. The act of buying supplies together as a team or organization.
The school's cooperative purchasing program helped teachers get cheaper classroom materials.