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Strategic Business Plan
The Purchasing Services Strategic Business Plan, updated every
two years, builds upon the accomplishments of the past decade and is the blueprint
for the future success of the organization. The Strategic Business Plan emphasizes
a campus-wide approach to supply management, supports the entire
procure-to-pay process, and encourages collaboration with
internal and external business partners.
The cornerstone of our strategic business plan is the
cost containment objective. Reducing the
cost of required products and services enables the institution to redirect savings
to its core education, research and social missions.
The Strategic Business Plan supports the following business objectives:
- Provide best quality, best service, and best value through best practices
- Deliver user friendly and efficient buying methods
- Provide cost effective strategic supplier business relationship and contracts that leverage the institution's buying power and produce significant financial return-on-investment
- Support the principals of socially responsible purchasing
- Strive for best-in-class recognition in supply management
The Strategic Business Plan enables the organization to focus its resources on
aggressive business objectives, which are value-added and provide significant
Return-on-Investment, in order to achieve the
following by the end of FY2010:
- Achieve $50 Million in new documented
cost savings during the four year period
- Process 80% of annual purchase order spend
through "managed" supplier relationships
- Increase annual purchase order spend
with preferred contract suppliers to $300 Million
- Increase annual purchase order spend with
collaborative contract suppliers to $30 Million
- Increase annual purchase order spend with
local community ($120 Million)
and diversity ($80 Million)
- Increase supplier participation in the
Penn Marketplace to 250 suppliers
- Increase utilization
of Penn Marketplace suppliers to 75% of purchase order transactions
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