Collective Purchasing is a strategy where multiple buyers come together to purchase goods or services as a single group. This approach allows them to leverage their combined buying power to negotiate better prices and terms from suppliers. By pooling their resources, participants can often access discounts that would not be available to individual buyers. This method is commonly used by cooperatives, business associations, and even local governments to reduce costs and improve efficiency. Collective purchasing can apply to various sectors, including food supplies, office equipment, and healthcare services, making it a versatile tool for cost savings.