Finding the Target: An Experiment in Benchmarking

Abstract

In an effort to maximize a dwindling materials budget, the University of North Texas Libraries have been investigating new methods of evaluating purchasing decisions. One such investigation was into the possibility of using cost data to establish internal benchmarks for acceptable price points. The hope was to create benchmarks for specific subjects and formats to aid staff in evaluating new resources, assessing existing resources, and negotiating pricing with vendors. This article will walk through the steps taken to create these benchmarks, the efforts taken to implement them, and conclusions regarding their feasibility as an ongoing tool for collection development.