Higher educational institutions of all sizes are being asked to do more with less. With enrollments skyrocketing, state schools are fighting the impact of state budget gaps, while private institutions face shrinking endowments. The result is staff reductions and hiring freezes that must be offset with increased efficiency. As boards of trustees increase budget scrutiny, every possibility must be examined to reduce expenses, while maintaining the highest levels of academic achievement. The procurement process is an effective area for colleges and universities to increase cost savings opportunities.
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