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The Penn Marketplace
The Penn Marketplace provides an efficient and user friendly process for ordering most
commonly required products and services from University contract and preferred suppliers.
Hosted by SciQuest Incorporated, the
Penn Marketplace streamlines the campus-wide buying process, maximizes strategic supplier
relationships, reduces purchasing costs, and increases customer satisfaction.
The Penn Marketplace contains online catalog content from many of the University's contract
suppliers and selected preferred non-contract suppliers. Use of the Penn Marketplace reduces
time and effort related to purchase order creation, reduces order cycle time, increases the
accuracy of purchase order and invoice data, increases utilization of our preferred and
contract suppliers resulting in lower costs for the most commonly ordered products and
services. Increased business opportunity also enables our top suppliers to 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 over 70% of all purchase orders issued through the
BEN Buys Purchasing System.
The Penn Marketplace delivers significant
return-on-investment by enabling Purchasing Services
to influence buying decisions and significantly improve spend management while offering
a better purchasing experiencing by:
- Promoting contract and preferred suppliers to increase contract compliance
- Improving usability of the purchasing system
- Reducing non-catalog requisitions
- Identifying new savings opportunities
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. 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. Local community based and diversity suppliers are also actively
recruited in support of the University's commitment to
economic inclusion.
Suppliers and manufacturers participating in the Penn Marketplace are eligible to join the
Supplier Showcase,
a Penn specific "electronic storefront" for supplier internal marketing to faculty
and staff.
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