Monday, November 19, 2018

$19 Million in Savings: The Power of Strategic Sourcing

Our colleague Ryan Balber, located in Procurement & Supplier Diversity Services, recently presented to the Leadership Advisory Council of the Virginia Higher Education Procurement Consortium (VHEPC) the results of the strategic sourcing efforts he has championed as Director of VHEPC for the past three fiscal years.
Ryan Balber

Balber is located here at UVA, and his position is funded by all VHEPC member entities.  In his role, he has developed a strategic and cooperative procurement program leveraging the purchasing power of VHEPC's 15 member organizations.  In the three years since VHEPC was formed and Balber took the lead, he has worked hard to negotiate better contracts for member entities with their suppliers.

The results of these efforts are impressive:  $19 million in savings and incentives enjoyed by UVA, The College of William & Mary, James Madison University, and more.  UVA's portion of the savings totaled over $6.5 million.

Sam Jones, Senior Vice President for Finance at the College of William and Mary, noted that the results of VHEPC's efforts speak for themselves, and UVA's John McHugh, Interim Director of PSDS, agrees.

"This is strategic sourcing in a nutshell," he said.

Well done, Ryan!

Read more about VHEPC on their website. 

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