Joint purchasing is a collaborative approach where multiple organizations or individuals come together to buy goods or services. By pooling their resources, they can negotiate better prices and terms with suppliers, leading to cost savings for all parties involved. This method is often used by businesses, non-profits, and even government entities to maximize their purchasing power. This strategy can apply to various sectors, including retail, healthcare, and education. For example, several schools might join forces to purchase textbooks or supplies in bulk, reducing overall expenses. Joint purchasing not only enhances savings but also fosters collaboration among participants.