E&I returned nearly $14 million to members in the form of rebates in 2012, and approved another $1.9 million to be returned in the form of patronage refunds, according to a report disclosed at the Cooperative’s Annual Stockholder’s Meeting.
E&I Cooperative Purchasing – the premier purchasing group for education – posted a number of other notable 2012 achievements: · Membership reached a record high – climbing 15% to nearly 3,000 · Member purchases totaled $1.8 billion – a 16% increase over 2011 · Members saved over $200 million using E&I contracts · Member utilization of contracts increased 11.1% · Supplier satisfaction was rated 8.57 on a scale of 1-10
“We are incredibly proud of our strong performance in 2012, marked by an increase in member purchases, contract utilization and member satisfaction,” said Tom Fitzgerald, CEO, E&I Cooperative. “Most notably, I am excited about the fact that we returned more than $15 back to our members in the form of rebates and patronage. These opportunities represent real revenue generators for our members and I believe it is extremely important for us to continue to deliver these kinds of savings opportunities. I look forward to building upon these successes in 2013.”
Established in 1934 by members of The National Association of Educational Procurement (NAEP), Educational & Institutional Cooperative Purchasing (E&I) is a buying cooperative that serves colleges and universities. E&I uses the combined purchasing power of nearly 3,000 member institutions to lower costs on a wide range of products and services. The organization provides members with access to a diverse portfolio of high quality national and regional contracts from best-in-class suppliers. E&I's member-driven competitive solicitation process has been validated by the National Institute of Governmental Purchasing (NIGP). For more information, please go to: www.eandi.org.