BCNET vending machine contract boosts value for participating institutionsTuesday, May 15, 2018
The BCNET Ryan Vending contract is helping to boost revenues and commissions from vending machine sales, while providing a greater variety of product offerings for students, faculty and staff.
In the last five years, BCNET has sourced over 24 general and IT contracts that meet member requirements, offer the best overall price, help minimize duplication and follow a process compliant with legislative and regulatory requirements. One such general contract with Ryan Vending is a good example of how member participation in contracts can benefit the entire public, post-secondary sector.
greater contract participation = more benefits for all
As more institutions join the Ryan Vending program, better commission rates and benefits are realized by all participants. With the recent addition of three institutions in the Ryan Vending program, the projected sales have jumped to over $1.5 million for the next fiscal year. Once the $1.5 million sales target is achieved, all current and future participating institutions will benefit from a two per cent increase in commissions for snack and beverage agreements. Today there are a total of 14 institutions in the program.
The original Ryan Vending contract was initiated by the University of the Fraser Valley on behalf of higher education institutions in B.C. Since then, the sectors' collective revenue from sales has grown to $1.4 million, while commissions have reached $500,000. As well, institutions have achieved an average growth of 46 per cent in vending machine sales, when compared to prior contracts.
BCNET Vending Program
The BCNET contract aims to increase commissions, improve user experience, and integrate the latest technology to meet the changing needs of the customer. The contract provisions equipment, consumables hot and cold beverages, and snack food, traditional as well as healthy choices, and vending-related maintenance and services for higher education sector institutions in BC.