joint purchasing
nounUK /dʒɔɪnt ˈpɜːtʃɪsɪŋ/
US /dʒɔɪnt ˈpɝːtʃəsɪŋ/
When two or more people or groups buy something together.
The two schools saved money through joint purchasing of books and supplies.
OTHER MEANINGS
2. A business arrangement where companies combine their orders to get lower prices.
The joint purchasing agreement let both factories buy steel at a discount.
3. The act of buying goods together with another party under a shared contract.
Joint purchasing of office equipment reduced costs for the whole department.
4. A strategy in which hospitals or agencies pool resources to purchase medical supplies.
The hospital network uses joint purchasing to obtain affordable medicines.