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The Penn Marketplace
The Penn Marketplace provides an efficient and user friendly process for faculty
and staff to order most commonly required products and specific services from
University contract and preferred suppliers. Hosted by
SciQuest Incorporated,
the Penn Marketplace streamlines the order creation process, promotes utilization of
strategic supplier relationships, provides
cost savings opportunities, and increases
customer satisfaction.
The Penn Marketplace contains catalog content from many of the University's contract
suppliers and selected non-contract suppliers. Increased business opportunity resulting
from participation in the Penn Marketplace enables our top suppliers to further invest
in the Penn business relationship, both financial in lower costs and value added
services, as well as the commitment of resources and technology to ensure an efficient
and effective purchase-to-pay process for faculty and staff. Over the past year,
purchases from Penn Marketplace suppliers represent nearly 75% of all purchase orders
issued through the BEN Buys Purchasing System.
The Penn Marketplace delivers significant
return-on-investment by enabling Purchasing Services
to significantly improve spend management by:
- Improving usability of the purchasing system
- Increasing contract compliance
- Leveraging spend for new savings opportunities
- Reducing maverick buying
To shop at the Penn Marketplace, authorized users must
login
to the BEN Buys Purchasing System.
Supplier Recruitment Strategy
Purchasing Services actively recruits contract suppliers and emerging preferred
suppliers for inclusion in the Penn Marketplace. Local community based and diversity
suppliers are also actively recruited in support of the
University's commitment to economic inclusion.
Preferred contract suppliers that offer value added benefits or have made a financial
commitment above and beyond Penn discount pricing are classified as
"strategic contract suppliers" and their content is
prioritized in the marketplace search results. While Penn preferred contract suppliers
have formal discount pricing agreements in place with the University, they may also
offer special quotes in response to large volume one-time purchase requests or changing
market conditions that may produce favorable discounting opportunities. Preferred
suppliers are recruited based on their potential for increased purchase activity which
may result in potential discount pricing opportunities.
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