The top TEN benefits of being a member of a business buying group.

Every business in the UK has felt the turbulent challenges and multiple uncertainties of high inflation, increasing interest rates, and supply chains still not at full compacity.  So now is an excellent time to join forces with a business buying group like PRL.

Still unsure if a buying group is right for your business? Check out the top ten benefits, we think you will change your mind.

No 1 – Item and Overhead Level Savings

Any business off their own back will find a decent amount of savings, but it shadows in comparison to the savings that can be achieved when part of a buying group, and when also factoring in large amounts of valuable time taken up trying to source in the first place, a buying group can start to look like appealing. Group buying combines the purchasing power of a diverse range of businesses to negotiate better discounts, delivery, and service, resulting in savings all day – every day.

These savings are often considerable, ranging from 10% to 35%, sometimes even more.

No 2 – Free Membership – Yeah, right!

Not all buying groups are equal, and many do not offer free membership, so finding one that does is a particular advantage.  Free membership with PRL benefits the member by creating an extensive network when supply partners are willing to extend discounts and additional service levels to gain business access.

No 3 – Direct Relationship with Suppliers

Joining a buying group does not mean your connection with the supplier will be severed.  Members will still receive deliveries straight from the supplier; the member will still be able to call on the supplier if the need arises.  PRL encourages that B2B relationship.

No 4 – Category Management with On-Going Support

Buying groups keep their members up to date on offers and service enhancements by having regular reviews with suppliers to understand and agree on new offers, service levels, and analysing global industry trends.  Purchasing power from a buying group helps reduce supply chain exposure.  PRL ensures that all businesses have little to no procurement downtime.

No 5 – Collaboration is the New Networking

Businesses benefit the most from a buying group that understands and welcomes collaboration. Businesses can share best practices and exchange information when bringing together other professionals from multiple industries with similar challenges and opportunities. PRL promotes collaboration through the member portal and events, allowing members to exchange experiences and have the peace of mind that the goods and services they need to run their business are fully compliant.

No 6 – Lower Purchasing Risk and Quality Service

Purchase-buying groups strive to keep members for the long haul, so the pressure to support the member is immense.  PRL onboards all supply partners through a thorough vetting process that ensures the supplier is ethical, comply with legislation, and delivers best practices.  This reduces the supply risk and time for the member.  As part of our due diligence, we also vet our members, as we are here to do business and support our suppliers and members.

No 7 – Savings Beyond Price

Many buying groups’ primary goals are to get members products and services for the best savings.  However, that should never be a reason to ignore quality.  PRL encourages members to work with suppliers to identify qualitative, not just quantitative, improvements that will give them the best-in-class service.  A buying group should go beyond initial savings and consider the total cost of ownership; this can help with inventory reductions and process improvements.

No 8 – Varying Products and Services

Products and services are available depending on the buying group you decide to join.  These services range from supply chain consulting and expense reduction analysis to benchmarking. Some buying groups will offer business support and bespoke outsourcing to add value to the membership offer.  PRL works across sectors and industries to provide members with everything needed to run their businesses.

No 9 – Gaining a Competitive Advantage

All businesses, regardless of size, are looking to ensure that they can be sustainable and profitable whilst riding the tide of the ever-changing landscape of the current UK economy.  A distinct and often overlooked buying group advantage is a competitive advantage. PRL ensures your business stays ahead of the curve, taking advantage of the economy of scale and aiding in maintaining a competitive advantage.

No 10 – The Dedicated PRL Team

Being a member of a buying group like PRL gives you access to a dedicated team of procurement specialists, who will have knowledge of your particular business sector, and experience in how to best support you. PRL takes the hassle out of account management, and not only offers a robust support structure but access to a broad range of supply partners, giving PRL substantial buying power. PRL offers all of the above on a daily basis, with free membership, no fees, no levies, and no service charges.

With nothing to lose and everything to save – call our team at (03333) 580 055 or visit our website today and start making those savings.

Blog Author
Hellen Hetherington
(Founder and Director – PRL)