This study contends that one area rich for reform and cost-saving opportunities is college and university procurement--the billions of dollars public institutions spend annually to purchase goods and services. While considerable cost savings may be realized in the reform of current procurement practices, these practices are largely shaped by state policies and mandates, as well as policies at the system and institutional levels. This study, based on a survey of procurement officials at public colleges and universities, examines the opportunity at hand to reform state and institutional procurement policies and practices to further contain costs, improve efficiency, and boost productivity in an area affecting virtually every aspect of campus operations. All stakeholders have a role to play: state policymakers, state procurement officials, campus leaders, campus procurement professionals, and even end users at the departmental level. The survey data confirm that states exercise considerable oversight over the purchase of goods and services by America's public colleges and universities. Evidence from the survey suggests that some state procurement policies inhibit colleges' and universities' ability to fully maximize purchasing power, generate cost savings, enhance product/service quality and improve procurement efficiency and productivity. Several key recommendations for states as well as for systems/institutions emerged from the survey and are summarized in this paper. These proposals can produce meaningful improvements in the utilization of resources in the purchasing of goods and services. Survey Questionnaire is appended. (Contains 7 figures and 3 footnotes.) [This paper was created by the National Association of Educational Procurement with support from the Huron Consulting Group.]