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Group purchasing organization, the Glossary

Index Group purchasing organization

In the United States, a group purchasing organization (GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members.[1]

Table of Contents

  1. 38 relations: Acute care, Agriculture, Bakery, Benchmarking, Candy, Collective buying power, Dairy, Diagnosis, Discounting, Distribution (marketing), Drink, Dry goods, Electronics, Foodservice, Government Accountability Office, Grocery store, Group buying, Health care, Horizontal and vertical market, Industry (economics), Manufacturing, Medicaid, Medicare (United States), Nonprofit organization, Poultry, Prescription drug purchasing pool, Procurement, Produce, Production line, Purchasing power, Raw material, Rebate (marketing), Snack, Strategic sourcing, Supply chain, United States Congress, United States Department of Health and Human Services, United States Senate Committee on the Judiciary.

  2. Purchasing consortia

Acute care

Acute care is a branch of secondary health care where a patient receives active but short-term treatment for a severe injury or episode of illness, an urgent medical condition, or during recovery from surgery.

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Agriculture

Agriculture encompasses crop and livestock production, aquaculture, fisheries, and forestry for food and non-food products.

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Bakery

A bakery is an establishment that produces and sells flour-based baked goods made in an oven such as bread, cookies, cakes, doughnuts, bagels, pastries, and pies.

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Benchmarking

Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies.

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Candy

Candy, alternatively called sweets or lollies, is a confection that features sugar as a principal ingredient.

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Collective buying power

Collective buying power is the ability of a group of consumers or businesses to leverage the group size in exchange for discounts. Group purchasing organization and Collective buying power are purchasing consortia.

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Dairy

A dairy is a place where milk is stored and where butter, cheese and other dairy products are made, or a place where those products are sold.

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Diagnosis

Diagnosis (diagnoses) is the identification of the nature and cause of a certain phenomenon.

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Discounting

In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee.

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Distribution (marketing)

Distribution is the process of making a product or service available for the consumer or business user who needs it, and a distributor is a business involved in the distribution stage of the value chain.

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Drink

A drink or beverage is a liquid intended for human consumption.

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Dry goods

Dry goods is a historic term describing the type of product line a store carries, which differs by region.

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Electronics

Electronics is a scientific and engineering discipline that studies and applies the principles of physics to design, create, and operate devices that manipulate electrons and other electrically charged particles.

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Foodservice

The foodservice (US English) or catering (British English) industry includes the businesses, institutions, and companies which prepare meals outside the home.

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Government Accountability Office

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan government agency within the legislative branch that provides auditing, evaluative, and investigative services for the United States Congress.

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Grocery store

A grocery store (AE), grocery shop (BE) or simply grocery is a foodservice retail store that primarily retails a general range of food products, which may be fresh or packaged.

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Group buying

Group buying, also known as collective buying, offers products and services at significantly reduced prices on the condition that a minimum number of buyers would make the purchase. Group purchasing organization and Group buying are purchasing consortia.

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Health care

Health care, or healthcare, is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Group purchasing organization and health care are health economics.

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Horizontal and vertical market

A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs.

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Industry (economics)

In macroeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services.

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Manufacturing

Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation.

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Medicaid

In the United States, Medicaid is a government program that provides health insurance for adults and children with limited income and resources.

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Medicare (United States)

Medicare is a federal health insurance program in the United States for people age 65 or older and younger people with disabilities, including those with end stage renal disease and amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease).

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Nonprofit organization

A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, or simply a nonprofit (using the adjective as a noun), is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners.

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Poultry

Poultry are domesticated birds kept by humans for the purpose of harvesting animal products such as meat, eggs or feathers.

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Prescription drug purchasing pool

Prescription Drug Purchasing Pools are groups of individuals, businesses, and governments that pool their purchasing power to negotiate a lower price for prescription drugs. Group purchasing organization and prescription drug purchasing pool are purchasing consortia.

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Procurement

Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process.

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Produce

Produce is a generalized term for many farm-produced crops, including fruits and vegetables (grains, oats, etc. are also sometimes considered produce).

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Production line

A production line is a set of sequential operations established in a factory where components are assembled to make a finished article or where materials are put through a refining process to produce an end-product that is suitable for onward consumption.

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Purchasing power

Purchasing power refers to the amount of products and services available for purchase with a certain currency unit.

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Raw material

A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials that are feedstock for future finished products.

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Rebate (marketing)

In marketing, a rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively.

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Snack

A snack is a small portion of food generally eaten between meals.

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Strategic sourcing

Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.

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Supply chain

A supply chain, sometimes expressed as a "supply-chain", is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers.

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United States Congress

The United States Congress, or simply Congress, is the legislature of the federal government of the United States.

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United States Department of Health and Human Services

The United States Department of Health and Human Services (HHS) is a cabinet-level executive branch department of the U.S. federal government created to protect the health of the U.S. people and providing essential human services.

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United States Senate Committee on the Judiciary

The United States Senate Committee on the Judiciary, informally known as the Senate Judiciary Committee, is a standing committee of 21 U.S. senators whose role is to oversee the Department of Justice (DOJ), consider executive and judicial nominations, and review pending legislation.

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See also

Purchasing consortia

References

[1] https://en.wikipedia.org/wiki/Group_purchasing_organization

Also known as Buying group, Group purchasing organisation, Group purchasing organizations, Private purchasing group.