Princeton Facilities welcomed nearly 90 businesses from the tri-state area to a new supplier showcase. The November 12th event brought together representatives from across the University community and potential suppliers for a day of shared learning.
Facilities partnered with five regional chambers of commerce for the event. All new suppliers in the area were welcome to participate. The programming provided an overview of the type of work different University departments contract out. Attendees heard from representatives on everything from campus grounds and capital construction to interiors and civil engineering.
Following the overview presentations there was a session on doing business with Princeton. Marci Gnandt, Executive Director, Facilities Budget, Procurement & Analysis, laid out the steps and process of becoming a University vendor.
The café area of 701 Carnegie center was buzzing after the presentations. Attendees networked with Princeton personnel and the construction management firms currently working on campus.
The event is one of several efforts the University has undertaken to broaden the pool of businesses to potentially provide goods and services to the University. The Supplier Diversity Action Plan was adopted by the University in 2021 to grow the pool of suppliers, including businesses that are certified women-, minority-, LGBTQ+-, or veteran-owned. The plan built upon an existing supplier diversity program established in 2015 in the Office of Finance and Treasury.
Princeton’s Supplier Diversity Action Plan does not dictate who should be hired, but rather gives guidance to improve competitive purchasing practices and strengthen supplier capabilities. University departments are required to engage in a competitive bid process for all purchases over $10,000, and competitive bids are recommended for purchases or contracts of lesser value. Expanding the pool of qualified suppliers and contractors seeking to do business with the University makes the bidding processes more competitive.
Information on how to do business with the University as a supplier is publicly available on the Finance & Treasury and Facilities websites. Events like this one allow participating firms to engage with the people who manage the process, ask questions and understand the specifics.
