Administration
Octo's team consists of 12 permanent employees who manage the following administrative tasks:
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Processing rebates twice a month.
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Producing several individual reports for all members monthly.
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Keeping your business information confidential and not sharing it with other members.
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Providing suppliers' individual programs and condensed rebate documentation.
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Preparing all negotiation review meetings and general assemblies.
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Hosting and organizing the two general assemblies.
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Conducting and organizing 4 to 6 Executive Board conference calls annually.
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Recruiting new members on a continual basis.
Basics
The Octo Purchasing Group does not interfere with the daily operations of its members.
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Each member maintains their autonomy.
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You negotiate your day-to-day acquisition costs.
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All members pay the same fees.
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Each member has an equal voting right.
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Committees handle negotiations, not the largest member.
Finances
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No capital is required for bank guarantees, bonds, or letters of credit.
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To ensure the well-being of all members, financial statements are sent directly to an external auditor annually in complete confidentiality.
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Financial health of our members is monitored by our corporate standard ratios.
Marketing
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Enhancing your existing communication network with Octo’s members and suppliers.
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Receiving constant industry updates and notifications.
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Accessing an efficient and varied communication system, including private and secure website access.
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Learning about your competition, both internal and external.
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Establishing or re-establishing links between suppliers and members.
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Interfacing, networking, and exchanging best practices with other members and vendors.
Guidelines
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Transferring purchase volumes towards supportive Octo vendors is encouraged and beneficial.
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Honoring the terms afforded to Octo by its suppliers, as image and credibility are very important to Octo members.
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Undertaking to keep all components of Octo’s rebate book, including negotiation documents, agreements with suppliers, and membership, confidential.
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Sending financial statements to Octo's auditor annually to ensure membership stability and reliability.
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Attending Octo’s general meetings.
Purchasing
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Maintaining your established relationships with your suppliers.
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Preserving your buying autonomy.
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Adding to your sourcing opportunities.
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Participating in bulk buy opportunities and group buys.
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Accessing multiple monthly promotions offered by suppliers.
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Benefiting from collective buying volumes to maximize day-to-day pricing.
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Reducing transportation costs by pooling with other members to get the best pricing level and pre-paid (PPD) shipments.
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Taking advantage of buy/sell opportunities within the group.
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Moving, selling, or trading surplus or dead inventory in other territories or regions.