What is another word for Group Purchasing?
Pronunciation: [ɡɹˈuːp pˈɜːt͡ʃɪsɪŋ] (IPA) 
Group purchasing, also known as collective buying, refers to a procurement strategy where multiple individuals or businesses join forces to make joint purchases. This approach enables participants to access larger volume discounts, thus driving down costs and maximizing savings. The term "collective procurement" is often used synonymously with group purchasing as it highlights the collaborative nature of this practice. Additionally, "consolidated buying" emphasizes the pooling of resources and efforts. Another synonym frequently employed is "bulk buying", which implies the acquisition of goods or services in substantial quantities. Ultimately, whether referred to as group purchasing, collective buying, consolidated procurement, or bulk buying, the objective remains the same – to leverage collective bargaining power for advantageous deals.
